Berkley, Massachusetts Property Taxes
The median property tax rate in Berkley, MA is 1.25%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Berkley at $473,250, the typical annual property tax bill reaches $5,892, exceeding the national median of $2,690. Property taxes in Berkley 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 Berkley'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 Berkley 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
Berkley, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$5,916
Ownwell’s Berkley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berkley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berkley 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 Berkley, Massachusetts
Property taxes in Berkley, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berkley is 1.25%, notably higher than the U.S. national median of 0.99%. Local government entities within Berkley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berkley 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 Berkley's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02779 has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Berkley provides valuable insights into the varying tax landscape across Bristol County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berkley Tax Rate
1.25%
Average Bristol County Tax Rate
1.27%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berkley, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02779 | 1.24% | 1.24% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Berkley, Massachusetts
In Berkley, 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 Bristol 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 Berkley, 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 Berkley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 02779 has the highest median tax bill at $5,892.
Average Berkley Assessed Value
$473,250
Average Bristol County Assessed Value
$384,800
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berkley, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02779 | $322,140 | $398,725 | $473,250 | $576,825 | $692,460 |
Source: Ownwell
Property Tax Bills Across Berkley, Massachusetts
In Berkley, Bristol County, MA, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and any improvements or renovations. Homeowners in Berkley can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is around $4,964, while the 75th percentile tax bill reaches $7,181. Those in the 90th percentile face tax bills as high as $8,622. Compared to the national median property tax rate of 0.99%, Berkley's rates can lead to substantial annual tax bills, impacting homeowners' financial planning and budgeting. Understanding these factors helps homeowners anticipate and manage their property tax obligations effectively.
Average Berkley Tax Bill
$5,892
Average Bristol County Tax Bill
$4,707
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Berkley, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02779 | $4,010 | $4,964 | $5,892 | $7,181 | $8,622 |
Source: Ownwell