Montgomery, Massachusetts Property Taxes
The median property tax rate in Montgomery, MA is 1.49%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Montgomery at $268,800, the typical annual property tax bill reaches $3,992, exceeding the national median of $2,690. Property taxes in Montgomery 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 Montgomery'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 Montgomery 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
Montgomery, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$4,005
Ownwell’s Montgomery Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Montgomery with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Montgomery to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value, determined by Hampden County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Montgomery, Massachusetts
Property taxes in Montgomery, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montgomery is 1.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montgomery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montgomery 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 Montgomery's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01085 zip code has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Montgomery 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 Montgomery Tax Rate
1.49%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01085 | 1.48% | 1.48% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery, Massachusetts
In Montgomery, Massachusetts, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Hampden 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 Montgomery, 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. Montgomery's median home price is $268,800, with tax bills ranging from $3,216 at the 25th percentile to $6,326 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Montgomery, Massachusetts
Source: Ownwell
$59,100
$292,600
$526,100
Average Montgomery Assessed Value
$268,800
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 Montgomery, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01085 | $173,320 | $215,950 | $268,800 | $345,500 | $425,986 |
Source: Ownwell
Property Tax Bills Across Montgomery, Massachusetts
Property tax bills in Montgomery, Hampden County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor’s office, which evaluates the property’s market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For Montgomery, the median home price is $268,800, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $3,216, while the 75th percentile tax bill is $5,131, and the 90th percentile tax bill reaches $6,326. This variation indicates that the tax burden can differ widely based on property values and specific circumstances. Compared to the national median property tax rate of 0.99%, homeowners in Montgomery may experience a higher tax rate, impacting their annual financial planning. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances effectively.
Average Montgomery Tax Bill
$3,992
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01085 | $2,573 | $3,216 | $3,992 | $5,131 | $6,326 |
Source: Ownwell