Osterville, Massachusetts Property Taxes
The median property tax rate in Osterville, MA is 0.83%, 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 Osterville at $784,600, the typical annual property tax bill reaches $6,548, significantly surpassing the national median of $2,690. Property taxes in Osterville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Osterville'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 Osterville 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
Osterville, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$6,512
$6,043
Ownwell’s Osterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osterville 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 Osterville, Massachusetts
Property taxes in Osterville, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osterville is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Osterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osterville 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 Osterville's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02655 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Osterville 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 Osterville Tax Rate
0.83%
Average Barnstable County Tax Rate
0.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osterville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02655 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Osterville, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Osterville, 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. In Osterville, 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 Osterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Osterville both stand at $6,548 in the 02655 zip code, highlighting a significant tax burden for some residents.
Property Tax Assessment Values Across Osterville, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Osterville Assessed Value
$784,600
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 Osterville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02655 | $426,440 | $503,300 | $784,600 | $1,717,100 | $3,441,820 |
Source: Ownwell
Property Tax Bills Across Osterville, Massachusetts
In Osterville, located in Barnstable County, MA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Osterville is $784,600. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, homeowners in the 02655 zip code experience a median tax bill of $6,548. Several factors influence the assessed value, including the property's size, location, and condition. Market trends and recent sales of comparable properties also play a significant role. The assessed value is typically lower than the market value, ensuring that homeowners are not overburdened by their tax obligations. Homeowners in Osterville may find their tax bills vary significantly, with the 25th percentile at $4,209 and the 75th percentile at $14,321. At the 90th percentile, tax bills can reach up to $28,705, reflecting the higher-end properties in the area. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Osterville Tax Bill
$6,548
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Osterville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02655 | $3,562 | $4,209 | $6,548 | $14,321 | $28,705 |
Source: Ownwell