Southampton, Massachusetts Property Taxes
The median property tax rate in Southampton, MA is 1.70%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Southampton at $228,200, the typical annual property tax bill reaches $3,875, exceeding the national median of $2,690. Property taxes in Southampton 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 Southampton'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 Southampton 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
Southampton, 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 Southampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southampton 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 Southampton, Massachusetts
Property taxes in Southampton, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southampton is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Southampton set these rates annually, and they can vary across different neighborhoods. Each year, Southampton 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 Southampton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01073 has the highest median property tax rate of 1.70%, while it also represents the lowest median tax rate of 1.70%. Understanding how these cities compare with Southampton 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 Southampton Tax Rate
1.70%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01073 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Southampton, Massachusetts
In Southampton, 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 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 Southampton, 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. Southampton's median home price is $228,200, with tax bills ranging from $3,574 at the 25th percentile to $4,157 at the 75th percentile, and $4,498 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 01073, with a value of $3,875. 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 Southampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Southampton, Massachusetts
Source: Ownwell
$59,100
$292,600
$526,100
Average Southampton Assessed Value
$228,200
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 Southampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01073 | $202,040 | $210,500 | $228,200 | $244,800 | $264,900 |
Source: Ownwell
Property Tax Bills Across Southampton, Massachusetts
In Southampton, Hampden County, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the town's tax rate to arrive at the annual property tax bill. For instance, with a median home price of $228,200, homeowners can expect their tax bills to vary significantly. Factors such as property size, location, and improvements can influence the assessed value. In Southampton, the tax bill at the 25th percentile is around $3,574, while at the 75th percentile, it rises to $4,157. The 90th percentile sees tax bills reaching up to $4,498. Comparatively, the highest and lowest median tax bills in the area both stand at $3,875, reflecting a relatively narrow range of property tax burdens within the town. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and plan accordingly.
Average Southampton Tax Bill
$3,875
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Southampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01073 | $3,431 | $3,574 | $3,875 | $4,157 | $4,498 |
Source: Ownwell