Montague, Massachusetts Property Taxes
The median property tax rate in Montague, MA is 1.57%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Montague at $288,100, the typical annual property tax bill reaches $4,481, exceeding the national median of $2,690. Property taxes in Montague are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Montague's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Montague or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montague, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$4,523
Ownwell’s Montague Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montague with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montague to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Montague, Massachusetts
Property taxes in Montague, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montague is 1.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montague set these rates annually, and they can vary across different neighborhoods. Each year, Montague estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Montague's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01351 has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these figures compare with Montague provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montague Tax Rate
1.57%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montague, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01351 | 1.56% | 1.56% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Montague, Massachusetts
In Montague, Massachusetts, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Franklin County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Montague, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Montague helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Montague is $4481.00, found in the 01351 zip code, while the lowest median tax bill is also $4481.00 in the same zip code.
Average Montague Assessed Value
$288,100
Average Franklin County Assessed Value
$252,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montague, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01351 | $186,580 | $233,200 | $288,100 | $350,700 | $429,540 |
Source: Ownwell
Property Tax Bills Across Montague, Massachusetts
In Montague, Franklin County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the town's assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the town's tax rate to determine the annual property tax bill. For example, with a median home price of $288,100, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, leading to changes in the tax bill. In Montague, the 25th percentile tax bill is $3,645, while the 75th percentile reaches $5,456. The 90th percentile tax bill can be as high as $6,673. These figures illustrate the range of property tax burdens homeowners might face, impacting their overall financial planning and homeownership costs. With the national median property tax rate at 0.99%, Montague's property tax rates highlight the importance of understanding local tax assessments.
Average Montague Tax Bill
$4,481
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Montague, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01351 | $2,928 | $3,645 | $4,481 | $5,456 | $6,673 |
Source: Ownwell