Wales, Massachusetts Property Taxes
The median property tax rate in Wales, MA is 1.71%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Wales, the typical annual property tax bill reaches $3,832, exceeding the national median of $2,690. Property taxes in Wales 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 Wales'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 Wales or another part of Hampden County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wales, 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 Wales Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wales with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wales 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 Wales, Massachusetts
Property taxes in Wales, Massachusetts, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wales is 1.71%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wales set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wales 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 Wales' effective property tax rate to other areas in Hampden County and the national median. For comparison, the zip code 01081 in Wales has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these figures compare with Wales 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 Wales Tax Rate
1.71%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wales, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01081 | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Wales, Massachusetts
In Wales, 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 Assessor 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 Wales, 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 Wales helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, Wales has the highest and lowest median tax bill at $3,832 in the 01081 zip code.
Average Wales Assessed Value
$225,300
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 Wales, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01081 | $131,150 | $168,575 | $225,300 | $287,500 | $357,940 |
Source: Ownwell
Property Tax Bills Across Wales, Massachusetts
In Wales, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Hampden County. The assessed value is determined by the local assessor's office and represents the market value of your property. For instance, with a median home price of $225,300, the tax bill can vary significantly. Homeowners in the 25th percentile of tax bills pay around $2,876, while those in the 75th percentile face bills up to $4,884. At the highest end, the 90th percentile reaches $6,107. These figures are influenced by various factors, including property size, location, and improvements. Comparing to the national median property tax rate of 0.99%, Hampden County's tax rates can be higher, reflecting the local government's revenue needs and funding requirements for public services. For homeowners, this means the property tax bill can be a significant annual expense, affecting overall household budgets and financial planning.
Average Wales Tax Bill
$3,832
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Wales, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01081 | $2,237 | $2,876 | $3,832 | $4,884 | $6,107 |
Source: Ownwell