Florida, Massachusetts Property Taxes
The median property tax rate in Florida, Massachusetts is 0.85%, 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 Florida, the typical annual property tax bill amounts to $1,247, falling below the national median of $2,690. Property taxes in Florida are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Florida'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 Florida or another part of Berkshire County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Florida, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,253
$1,163
Ownwell’s Florida Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Florida with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Florida 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 Florida, Massachusetts
Property taxes in Florida, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Florida is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Florida set these rates annually, and they can vary significantly across different neighborhoods. Each year, Florida 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 Florida's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01247 zip code has the same median property tax rate of 0.85%. Understanding how these cities compare with Florida provides valuable insights into the varying tax landscape across Berkshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Florida Tax Rate
0.85%
Average Berkshire County Tax Rate
1.62%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Florida, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01247 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Florida, Massachusetts
In Florida, 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 Berkshire County Assessor 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 Florida, 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 Florida helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 01247 at $1,247, while the lowest median tax bill is also in 01247 at $1,247.
Average Florida Assessed Value
$147,400
Average Berkshire County Assessed Value
$256,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Florida, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01247 | $70,980 | $104,600 | $147,400 | $206,600 | $271,250 |
Source: Ownwell
Property Tax Bills Across Florida, Massachusetts
In Florida, Berkshire County, MA, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $147,400, homeowners can expect varying tax bills depending on where they fall within the assessed value spectrum. The 25th percentile tax bill is around $885, while the 75th percentile tax bill reaches $1748, and the 90th percentile can go up to $2295. Several factors influence these tax bills, including changes in property values, local government budgets, and specific exemptions or abatements that homeowners might qualify for. Homeowners in Berkshire County face a median property tax rate that is notably higher than the national median of 0.99%. This higher rate can significantly impact household budgets, making it crucial for homeowners to understand their tax assessments and explore potential exemptions to mitigate their tax burden.
Average Florida Tax Bill
$1,247
Average Berkshire County Tax Bill
$3,693
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Florida, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01247 | $600 | $885 | $1,247 | $1,748 | $2,295 |
Source: Ownwell