Hardwick, Massachusetts Property Taxes
The median property tax rate in Hardwick, MA is 1.33%, 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 $318,700, the typical annual property tax bill reaches $4,239, 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
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$4,239
Ownwell’s Hardwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardwick is 1.33%, significantly higher than both the Massachusetts state median and 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 counties in Massachusetts and the national median. For comparison, the zip code 01082 has the highest median property tax rate of 1.33%, while the zip code 01037 has the lowest median tax rate of 1.33%. Understanding how these cities compare with Hardwick provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hardwick Tax Rate
1.33%
Average Worcester County Tax Rate
1.43%
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 |
|---|---|---|---|---|---|
| 01037 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
| 01082 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
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 Worcester 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in Hardwick is $318,700, with tax bills ranging from $3,176 at the 25th percentile to $7,030 at the 90th percentile. The highest median tax bill is $4,357 in zip code 01037, while the lowest is $4,115 in zip code 01082. 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
$117,500
$415,400
$713,300
Average Hardwick Assessed Value
$318,700
Average Worcester County Assessed Value
$360,000
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 |
|---|---|---|---|---|---|
| 01037 | $158,620 | $246,600 | $327,600 | $432,900 | $585,138 |
| 01082 | $179,320 | $238,900 | $309,400 | $408,000 | $460,193 |
Source: Ownwell
Property Tax Bills Across Hardwick, Massachusetts
In Hardwick, MA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessment considers factors such as the property's market value, location, and any improvements or renovations. Homeowners in Hardwick can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $3,176 and the 75th percentile reaching $5,638. At the higher end, the 90th percentile tax bill can be as much as $7,030. The median home price in Hardwick is $318,700, and the property tax rate is applied to this assessed value to determine the annual tax bill. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark to understand how Hardwick's rates stack up. For homeowners, these taxes contribute to essential public services like schools, infrastructure, and emergency services. Consequently, understanding how these factors influence their tax bills can help homeowners plan and budget more effectively.
Average Hardwick Tax Bill
$4,239
Average Worcester County Tax Bill
$5,153
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 |
|---|---|---|---|---|---|
| 01037 | $2,110 | $3,280 | $4,357 | $5,758 | $7,782 |
| 01082 | $2,385 | $3,177 | $4,115 | $5,426 | $6,120 |
Source: Ownwell