Fairhaven, Massachusetts Property Taxes
The median property tax rate in Fairhaven, MA is 0.92%, slightly below the national median of 0.99% but significantly lower than the Massachusetts state median of 1.23%. With the median home value in Fairhaven at $391,000, the typical annual property tax bill reaches $3,607, surpassing the national median of $2,690. Property taxes in Fairhaven 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 Fairhaven'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 Fairhaven 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
Fairhaven, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$3,597
Ownwell’s Fairhaven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairhaven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairhaven 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 Fairhaven, Massachusetts
Property taxes in Fairhaven, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairhaven is 0.92%, which is lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Fairhaven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairhaven 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 Fairhaven's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 02719 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Fairhaven 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 Fairhaven Tax Rate
0.92%
Average Bristol County Tax Rate
1.27%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairhaven, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02719 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Fairhaven, Massachusetts
In Fairhaven, 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 Fairhaven, 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. For instance, the median home price in Fairhaven is $391,000, with tax bills ranging from $3,174 at the 25th percentile to $5,601 at the 90th percentile. The zip code 02719 has both the highest and lowest median tax bill at $3,607. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fairhaven, Massachusetts
Source: Ownwell
$270,400
$556,350
$842,300
Average Fairhaven Assessed Value
$391,000
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 Fairhaven, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02719 | $306,470 | $344,000 | $391,000 | $467,875 | $607,180 |
Source: Ownwell
Property Tax Bills Across Fairhaven, Massachusetts
In Fairhaven, located in Bristol County, MA, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The median home price in Fairhaven is $391,000, and the property tax rate is determined by the local government to fund public services such as schools, roads, and emergency services. Several factors influence the property tax bill, including the property's assessed value, which is periodically determined by the local assessor's office. Homeowners in Fairhaven can expect varying tax bills depending on their property's value. For instance, the 25th percentile tax bill is around $3,174, while the 75th percentile tax bill reaches up to $4,310. The highest median tax bill in the area is $3,607, which is notably higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, as they must budget for these expenses annually. Understanding how these factors come together helps residents anticipate their financial obligations and plan accordingly.
Average Fairhaven Tax Bill
$3,607
Average Bristol County Tax Bill
$4,707
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairhaven, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02719 | $2,828 | $3,174 | $3,607 | $4,310 | $5,601 |
Source: Ownwell