North Falmouth, Massachusetts Property Taxes
The median property tax rate in North Falmouth, MA is 0.69%, significantly lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $677,500 in North Falmouth, the typical annual property tax bill amounts to $4,688, which is notably higher than the national median of $2,690. Property taxes here are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence exemption. Understanding North Falmouth'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 North Falmouth 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
North Falmouth, 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 North Falmouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Falmouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Falmouth 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 North Falmouth, Massachusetts
Property taxes in North Falmouth, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Falmouth is 0.69%, which is lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within North Falmouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Falmouth 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 North Falmouth's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02556 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with North Falmouth 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 North Falmouth Tax Rate
0.69%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Falmouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02556 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across North Falmouth, Massachusetts
In North Falmouth, 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 North Falmouth, 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 North Falmouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area stands at $677,500, with tax bills ranging from $3,571 at the 25th percentile to $9,976 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 02556, at $4,688.
Property Tax Assessment Values Across North Falmouth, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average North Falmouth Assessed Value
$677,500
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 North Falmouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02556 | $435,400 | $515,850 | $677,500 | $950,800 | $1,441,540 |
Source: Ownwell
Property Tax Bills Across North Falmouth, Massachusetts
In North Falmouth, 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 assessor's office and reflects the estimated market value of the property. Homeowners in North Falmouth can expect a median property tax bill of $4,688, which is significantly higher than the national median property tax rate of 0.99%. The tax bill is influenced by various factors, including the location, size, and condition of the property. For instance, properties falling in the 25th percentile have tax bills around $3,571, while those in the 75th percentile see tax bills approximately $6,580. At the higher end, in the 90th percentile, tax bills can reach up to $9,976. These variations indicate that more valuable properties incur higher taxes, directly impacting the financial obligations of homeowners. Understanding these factors can help homeowners better anticipate their annual property tax expenses and plan accordingly.
Average North Falmouth Tax Bill
$4,688
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across North Falmouth, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02556 | $3,014 | $3,571 | $4,688 | $6,580 | $9,976 |
Source: Ownwell