Hardwick, Massachusetts Property Taxes
The median property tax rate in Hardwick, MA is 1.73%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Hardwick at $374,239, the typical annual property tax bill reaches $6,459, exceeding the national median of $2,690. Property taxes in Hardwick 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 Hardwick'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 Hardwick 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
Hardwick, 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 Hardwick Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hardwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hardwick 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 Hardwick, Massachusetts
Property taxes in Hardwick, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardwick is 1.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hardwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hardwick 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 Hardwick's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the zip code 01082 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these areas compare with Hardwick provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hardwick Tax Rate
1.73%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hardwick, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01082 | 1.73% | 1.73% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Hardwick, Massachusetts
In Hardwick, 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 Hampshire 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 Hardwick, 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. The median home price in Hardwick is $374,239, with the highest and lowest median tax bills both standing at $6,459 in the 01082 zip code. 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 Hardwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hardwick, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Hardwick Assessed Value
$374,239
Average Hampshire County Assessed Value
$310,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hardwick, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01082 | $374,239 | $374,239 | $374,239 | $374,239 | $374,239 |
Source: Ownwell
Property Tax Bills Across Hardwick, Massachusetts
In Hardwick, located in Hampshire County, MA, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the home. For instance, if a home has a median market price of $374,239, the assessed value will be a portion of this amount. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including property size, location, and any improvements or changes made to the property. In Hardwick, homeowners experience a median property tax bill of $6,459, which is significantly higher than the national median of 0.99%. This higher tax bill can impact homeowners by increasing the overall cost of homeownership, potentially affecting budgeting and financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax obligations effectively.
Average Hardwick Tax Bill
$6,459
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardwick, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01082 | $6,459 | $6,459 | $6,459 | $6,459 | $6,459 |
Source: Ownwell