Teaticket, Massachusetts Property Taxes
The median property tax rate in Teaticket, MA is 0.69%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Teaticket, the typical annual property tax bill reaches $3,048, exceeding the national median of $2,690. Property taxes in Teaticket 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 Teaticket'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 Teaticket 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
Teaticket, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$3,038
$2,820
Ownwell’s TEATICKET Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TEATICKET with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TEATICKET 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 Teaticket, Massachusetts
Property taxes in Teaticket, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Teaticket 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 Teaticket set these rates annually, and they can vary significantly across different neighborhoods. Each year, Teaticket 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 Teaticket's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02536 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Teaticket 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 Teaticket 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 Teaticket, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02536 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Teaticket, Massachusetts
In Teaticket, 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 Teaticket, 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. Teaticket's median home price is $440,350, with the 25th percentile tax bill at $2,581 and the 75th percentile tax bill at $3,710. The highest and lowest median tax bills are both $3,048 in the 02536 zip code. Being aware of these valuation processes in Teaticket helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Teaticket, Massachusetts
Source: Ownwell
$390,350
$1,067,975
$1,745,600
Average Teaticket Assessed Value
$440,350
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 Teaticket, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02536 | $331,610 | $372,975 | $440,350 | $535,600 | $689,180 |
Source: Ownwell
Property Tax Bills Across Teaticket, Massachusetts
In Teaticket, located in Barnstable County, MA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The process begins with the local government assessing the market value of a home. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. For homeowners in Teaticket, the median home price stands at $440,350. Property tax bills in this area can vary significantly, with the 25th percentile at $2,581, the 75th percentile at $3,710, and the 90th percentile reaching $4,774. Compared to the national median property tax rate of 0.99%, Teaticket's property tax rates reflect the local government's funding needs and the area's property values. Homeowners need to be aware of these factors as they directly impact their annual financial obligations. Understanding how these elements interplay can help homeowners anticipate and plan for their property tax expenses.
Average Teaticket Tax Bill
$3,048
Average Barnstable County Tax Bill
$4,094
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Teaticket, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02536 | $2,295 | $2,581 | $3,048 | $3,710 | $4,774 |
Source: Ownwell