Wareham, Massachusetts Property Taxes
The median property tax rate in Wareham, MA is 1.20%, which is higher than the national median of 0.99% but slightly lower than the Massachusetts state median of 1.23%. With a median home value of $327,800 in Wareham, the typical annual property tax bill amounts to $3,957, surpassing the national median of $2,690. Property taxes in Wareham are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wareham's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Wareham or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wareham, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$3,934
Ownwell’s Wareham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wareham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wareham 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 Wareham, Massachusetts
Property taxes in Wareham, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wareham is 1.20%, which is higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Wareham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wareham 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 Wareham's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02571 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Wareham provides valuable insights into the varying tax landscape across Plymouth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wareham Tax Rate
1.20%
Average Plymouth County Tax Rate
1.30%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wareham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02571 | 1.20% | 1.20% | 1.20% | 1.20% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Wareham, Massachusetts
In Wareham, 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 local 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 Wareham, 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 Wareham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wareham are both $3,957, found in the 02571 zip code.
Property Tax Assessment Values Across Wareham, Massachusetts
Source: Ownwell
$292,450
$663,075
$1,033,700
Average Wareham Assessed Value
$327,800
Average Plymouth County Assessed Value
$476,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wareham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02571 | $231,500 | $271,800 | $327,800 | $410,000 | $548,080 |
Source: Ownwell
Property Tax Bills Across Wareham, Massachusetts
Property tax bills in Wareham, located in Plymouth 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 tax assessor's office, which evaluates the property’s market value. This valuation considers various factors, including the property's size, age, location, and condition. The tax rate, applied to this assessed value, dictates the annual tax bill homeowners must pay. In Wareham, the median home price is $327,800, and property tax bills can vary widely. For example, homeowners in the 25th percentile pay around $3,283 annually, while those in the 75th percentile face bills of approximately $4,947. At the 90th percentile, tax bills can reach up to $6,610. The highest and lowest median tax bills in the area are both $3,957, reflecting the uniformity in the local tax rates. These property taxes significantly impact homeowners by influencing their overall housing costs. Staying informed about how these taxes are calculated can help homeowners better manage their financial planning and anticipate annual expenses.
Average Wareham Tax Bill
$3,957
Average Plymouth County Tax Bill
$6,149
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Wareham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02571 | $2,795 | $3,283 | $3,957 | $4,947 | $6,610 |
Source: Ownwell