Buzzards Bay, Massachusetts Property Taxes
The median property tax rate in Buzzards Bay, MA is 0.88%, which is lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Buzzards Bay at $447,700, the typical annual property tax bill reaches $3,951, significantly higher than the national median of $2,690. Property taxes in Buzzards Bay are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Buzzards Bay'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 Buzzards Bay 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
Buzzards Bay, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$3,940
Ownwell’s Buzzards Bay Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buzzards Bay with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buzzards Bay 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 Buzzards Bay, Massachusetts
Property taxes in Buzzards Bay, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buzzards Bay is 0.88%, which is below the U.S. national median of 0.99%. Local government entities within Buzzards Bay set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buzzards Bay 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 Buzzards Bay's effective property tax rate to other areas in Barnstable County and the national median. For comparison, the zip code 02532 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Buzzards Bay provides valuable insights into the varying tax landscape across Barnstable County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buzzards Bay Tax Rate
0.88%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buzzards Bay, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02532 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Buzzards Bay, Massachusetts
In Buzzards Bay, 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 Barnstable 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 Buzzards Bay, 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 Buzzards Bay helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Buzzards Bay is $447,700, with tax bills ranging from $3,079 at the 25th percentile to $7,339 at the 90th percentile. The zip code 02532 has the highest and lowest median tax bill, both at $3,951.
Property Tax Assessment Values Across Buzzards Bay, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Buzzards Bay Assessed Value
$447,700
Average Barnstable County Assessed Value
$556,400
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buzzards Bay, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02532 | $262,700 | $348,300 | $447,700 | $587,400 | $830,100 |
Source: Ownwell
Property Tax Bills Across Buzzards Bay, Massachusetts
In Buzzards Bay, located in Barnstable County, MA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Buzzards Bay can expect their property tax bill to vary significantly depending on the value of their home. For instance, those in the 25th percentile might see a tax bill around $3,079, while those in the 75th percentile could face a bill closer to $5,185. At the 90th percentile, the tax bill can reach up to $7,339. The median home price in Buzzards Bay is $447,700, and the median property tax bill stands at $3,951, which is higher than the national median property tax rate of 0.99%. These tax bills fund essential community services such as schools, public safety, and infrastructure. As a result, homeowners in Buzzards Bay contribute significantly to the upkeep and development of their local community through their property taxes.
Average Buzzards Bay Tax Bill
$3,951
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Buzzards Bay, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02532 | $2,363 | $3,079 | $3,951 | $5,185 | $7,339 |
Source: Ownwell