Ludlow, Massachusetts Property Taxes
The median property tax rate in Ludlow, MA is 1.95%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Ludlow at $242,100, the typical annual property tax bill reaches $4,731, well above the national median of $2,690. Property taxes in Ludlow are calculated based on the assessed value, which often falls below market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ludlow'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 Ludlow 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
Ludlow, Massachusetts Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,460
Ownwell’s Ludlow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ludlow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ludlow 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 Ludlow, Massachusetts
Property taxes in Ludlow, Massachusetts, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Ludlow is 1.95%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ludlow set these rates annually, leading to variations across different neighborhoods. Each year, Ludlow 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 Ludlow's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the zip code 01056 has the highest median property tax rate of 1.95%, while the same zip code also has the lowest median tax rate of 1.95%. Understanding how these figures compare with Ludlow provides valuable insights into the varying tax landscape across Hampden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ludlow Tax Rate
1.95%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ludlow, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01056 | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Ludlow, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ludlow, Massachusetts. 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 Hampden County Assessor's Office 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 Ludlow, 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. For example, the median home price in Ludlow is $242,100, with tax bills ranging from $3,889 at the 25th percentile to $7,722 at the 90th percentile. Interestingly, the highest and lowest median tax bills are both $4,731 in the 01056 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ludlow Assessed Value
$242,100
Average Hampden County Assessed Value
$245,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ludlow, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01056 | $172,460 | $199,100 | $242,100 | $313,400 | $394,540 |
Source: Ownwell
Property Tax Bills Across Ludlow, Massachusetts
In Ludlow, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the Hampden County assessor's office, which evaluates the property's market value and applies an assessment ratio. For instance, if a home in Ludlow has a median home price of $242,100, the assessed value will be a percentage of this market price. The local tax rate is then applied to the assessed value to calculate the annual tax bill. Factors that influence the tax bill include property size, location, and improvements made to the property. In Ludlow, tax bills can vary significantly; the 25th percentile tax bill is $3,889, while the 75th percentile tax bill reaches $6,123, and the 90th percentile can be as high as $7,722. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Higher tax bills can impact homeowners by increasing their annual expenses, but they also contribute to the quality of local amenities and services.
Average Ludlow Tax Bill
$4,731
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Ludlow, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01056 | $3,377 | $3,889 | $4,731 | $6,123 | $7,722 |
Source: Ownwell