Swansea, Massachusetts Property Taxes
The median property tax rate in Swansea, MA is 1.31%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $358,400 in Swansea, the typical annual property tax bill reaches $4,706, far exceeding the national median of $2,690. Property taxes in Swansea are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Swansea's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Swansea 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
Swansea, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$4,695
Ownwell’s Swansea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swansea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swansea 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 Swansea, Massachusetts
Property taxes in Swansea, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swansea is 1.31%, higher than the U.S. national median of 0.99%. Local government entities within Swansea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swansea 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 Swansea's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02777 zip code has the highest median property tax rate of 1.31%, while the lowest median tax rate is also 1.31%. Understanding how these cities compare with Swansea 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 Swansea Tax Rate
1.31%
Average Bristol County Tax Rate
1.27%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swansea, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02777 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Swansea, Massachusetts
In Swansea, 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 Swansea, 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 Swansea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 02777 has the highest and lowest median tax bill at $4,706, reflecting the uniformity in property tax assessments within the area.
Average Swansea Assessed Value
$358,400
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 Swansea, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02777 | $270,100 | $303,750 | $358,400 | $454,150 | $557,040 |
Source: Ownwell
Property Tax Bills Across Swansea, Massachusetts
In Swansea, Bristol County, MA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Swansea is $358,400, which serves as a reference point for determining tax obligations. The tax bill is derived by multiplying the assessed value by the property tax rate set by the local government. Factors such as property location, home size, and condition can influence the assessed value, thus impacting the final tax bill. For homeowners in Swansea, tax bills can vary significantly. The 25th percentile tax bill is $3,985, while the 75th percentile reaches $5,962, and the 90th percentile hits $7,313. This range highlights the variability in tax burdens depending on property characteristics and assessed values. Comparatively, Swansea's property tax rates and bills are above the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Swansea Tax Bill
$4,706
Average Bristol County Tax Bill
$4,707
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Swansea, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02777 | $3,546 | $3,985 | $4,706 | $5,962 | $7,313 |
Source: Ownwell