Cotuit, Massachusetts Property Taxes
The median property tax rate in Cotuit, MA is 0.84%, which is notably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Cotuit at $644,200, the typical annual property tax bill is $5,391, surpassing the national median of $2,690. Property taxes in Cotuit are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cotuit'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 Cotuit or another part of Barnstable County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cotuit, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$5,411
$5,022
Ownwell’s Cotuit Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cotuit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cotuit to provide an accurate property tax bill estimate. This valuable tool helps you grasp potential tax liabilities, giving you a clearer financial picture. For those interested in neighborhood-level trends, we offer more localized insights further down the page. Your property’s assessed value is determined by Barnstable County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Cotuit, Massachusetts
Property taxes in Cotuit, MA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cotuit is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Cotuit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cotuit 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 Cotuit's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02635 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Cotuit 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 Cotuit Tax Rate
0.84%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cotuit, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02635 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Cotuit, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cotuit, Massachusetts. 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. 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 example, the highest median tax bill in Cotuit is $5,391 in the 02635 zip code, which is also the lowest median tax bill in the area. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cotuit, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Cotuit Assessed Value
$644,200
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 Cotuit, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02635 | $412,800 | $488,000 | $644,200 | $866,200 | $1,475,400 |
Source: Ownwell
Property Tax Bills Across Cotuit, Massachusetts
In Cotuit, property tax bills are calculated based on the assessed value of a home, which is determined by Barnstable County officials. The assessed value is a percentage of the market value of the property, reflecting factors such as location, size, and condition of the home. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $644,200, homeowners in Cotuit can expect varying tax bills. The 25th percentile tax bill is around $4,085, while the 75th percentile reaches about $7,248. High-value properties may see tax bills as steep as $12,298 at the 90th percentile. These figures highlight how property taxes can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Cotuit, both at $5,391, underscore the relative consistency within the area, but still represent a notable financial commitment for homeowners.
Average Cotuit Tax Bill
$5,391
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Cotuit, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02635 | $3,454 | $4,085 | $5,391 | $7,248 | $12,298 |
Source: Ownwell