Savoy, Berkshire County, Massachusetts Property Taxes
Median Savoy, MA effective property tax rate: 1.37%, significantly higher than the national median of 1.02%, but lower than the Massachusetts state median of 1.23%.
Median Savoy, MA home value: $185,300
Median annual Savoy, MA tax bill: $2,538, $138 higher than the national median property tax bill of $2,400.
How are property taxes in Berkshire calculated?
Property taxes in Savoy, MA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Savoy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Savoy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Savoy, Berkshire County, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.37%
Estimate Property Tax Bill
$2,539
$2,356
Property Tax Rates Across Savoy, Berkshire County, Massachusetts
Local government entities set tax rates, which can vary widely within a state. The reason for this variation is that each county annually estimates the budget required to provide essential services and divides it by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Savoy, Berkshire County, Massachusetts, the effective property tax rate stands at 1.37%. This rate is higher than the national median property tax rate of 1.02%, reflecting the local government's budgetary needs and property values. Compared to other cities in Massachusetts, Savoy's rate aligns with the state's median, indicating a consistent approach to property taxation across the region. The median property tax bill in Massachusetts often surpasses the national median of $2,400, emphasizing the state's higher property values and tax rates. Understanding these local nuances can help property owners in Savoy make informed decisions and potentially explore opportunities for tax appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Savoy Tax Rate
1.37%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Berkshire County Tax Rate
1.62%
Median Effective Massachusetts Tax Rate
1.23%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Savoy, Berkshire County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01256 | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Savoy, Berkshire County, Massachusetts
When examining property taxes in Savoy, MA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Berkshire County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Berkshire County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Savoy.
For example, the median home price in Savoy is $185,300, with tax bills ranging significantly across the county. Zip code 01256 has the highest median home price at $185,300.
Property Tax Assessment Values Across Savoy, Berkshire County, Massachusetts
Source: Ownwell
$84,400
$299,300
$514,200
Median Savoy Market Value
$185,300
Median Berkshire County Market Value
$256,200
Median Massachusetts Market Value
$492,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Savoy, Berkshire County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01256 | $75,500 | $126,425 | $185,300 | $243,425 | $299,570 |
Source: Ownwell
Property Tax Bills Across Savoy, Berkshire County, Massachusetts
In Savoy, Berkshire County, MA, property taxes are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is based on the market value of the property, which considers factors such as location, size, and condition. Homeowners in Savoy face a median property tax bill of $2,538, which is slightly above the national median of $2,400. Tax bills can vary, with the 25th percentile at $1,722 and the 75th percentile reaching $3,339, indicating a range of tax burdens depending on property specifics. For those at the 90th percentile, tax bills can climb to $4,101, highlighting the significant impact of property taxes on household budgets.
Ownwell assists homeowners in Savoy by offering property tax appeal and exemption services, potentially reducing tax liabilities. By analyzing property assessments and market data, Ownwell identifies opportunities for savings, ensuring homeowners are not overpaying. This service can be invaluable in managing household expenses, providing peace of mind and financial relief.
Median Savoy Tax Bill
$2,538
Median Berkshire County Tax Bill
$3,693
Median Massachusetts Tax Bill
$5,844
Median United States Tax Bill
$2,400
Property Tax Bills Across Savoy, Berkshire County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01256 | $1,034 | $1,722 | $2,538 | $3,339 | $4,101 |
Source: Ownwell