Chatham, Massachusetts Property Taxes
The median property tax rate in Chatham, MA is 0.36%, significantly lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Chatham, the typical annual property tax bill reaches $3,701, which is above the national median of $2,690. Property taxes in Chatham 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 Chatham'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 Chatham 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
Chatham, 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 Chatham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chatham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chatham 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 Chatham, Massachusetts
Property taxes in Chatham, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chatham is 0.36%, significantly lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Chatham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chatham 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 Chatham's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the highest median property tax rate in Barnstable County is 0.99%, while the lowest median tax rate is 0.36%. Understanding how these cities compare with Chatham 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 Chatham Tax Rate
0.36%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chatham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02633 | 0.36% | 0.36% | 0.36% | 0.36% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Chatham, Massachusetts
In Chatham, 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 Chatham, 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 Chatham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chatham is $1,035,050. Notably, the zip code 02633 has the highest median tax bill at $3,701. The same zip code also has the lowest median tax bill at $3,701.
Property Tax Assessment Values Across Chatham, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Chatham Assessed Value
$1,035,050
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 Chatham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02633 | $543,990 | $713,150 | $1,035,050 | $1,785,025 | $3,050,110 |
Source: Ownwell
Property Tax Bills Across Chatham, Massachusetts
In Chatham, located in Barnstable County, MA, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local assessor's office and is intended to reflect the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, condition, and recent sales of comparable properties in the area. Homeowners in Chatham can expect a range of tax bills depending on these factors. For instance, the 25th percentile of tax bills is around $2,547, while the 75th percentile reaches $6,389. Those in the 90th percentile may see tax bills as high as $10,889. The median home price in Chatham is about $1,035,050, which significantly impacts the overall tax burden. Comparatively, the national median property tax rate stands at 0.99%, making Chatham's rates a crucial consideration for homeowners.
Average Chatham Tax Bill
$3,701
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Chatham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02633 | $1,944 | $2,547 | $3,701 | $6,389 | $10,889 |
Source: Ownwell