Eastham, Massachusetts Property Taxes
The median property tax rate in Eastham, MA is 0.72%, significantly lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $614,100 in Eastham, the typical annual property tax bill reaches $4,449, surpassing the national median of $2,690. Property taxes in Eastham are calculated based on the assessed value, which generally falls below the market value due to various exemptions like the primary residence exemption. Understanding Eastham's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Eastham 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
Eastham, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$4,422
$4,103
Ownwell’s Eastham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastham 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 Eastham, Massachusetts
Property taxes in Eastham, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastham is 0.72%, which is lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Eastham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastham 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 Eastham's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02642 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Eastham 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 Eastham Tax Rate
0.72%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02642 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Eastham, Massachusetts
In Eastham, 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 Eastham, 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. Eastham has a median home price of $614,100. The property tax bills range significantly, with the 25th percentile at $3,669 and the 75th percentile at $5,594. The 90th percentile tax bill reaches up to $7,672. Interestingly, the highest and lowest median tax bills are both found in the 02642 zip code, each at $4,449. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Eastham, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Eastham Assessed Value
$614,100
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 Eastham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02642 | $414,200 | $506,350 | $614,100 | $771,950 | $1,058,200 |
Source: Ownwell
Property Tax Bills Across Eastham, Massachusetts
In Eastham, located in Barnstable County, MA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by local tax assessors who evaluate your property's market value. This value is then multiplied by the tax rate to calculate your annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. For instance, a home in Eastham with a median home price of $614,100 will have its tax bill calculated using these assessments. Property tax bills in Eastham vary significantly, with the 25th percentile at $3,669 and the 75th percentile at $5,594, reflecting differences in property values and assessments. Homeowners in Eastham should be aware that property taxes can significantly impact their annual expenses. With the highest median tax bill in the area being $4,449, understanding how these taxes are calculated can help homeowners budget more effectively and potentially explore tax appeal options if they believe their assessment is too high.
Average Eastham Tax Bill
$4,449
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02642 | $3,004 | $3,669 | $4,449 | $5,594 | $7,672 |
Source: Ownwell