Westport, Massachusetts Property Taxes
The median property tax rate in Westport, MA is 0.82%, which is lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $441,800 in Westport, the typical annual property tax bill amounts to $3,648, surpassing the national median of $2,690. Property taxes in Westport are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Westport'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 Westport or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westport, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$3,623
$3,362
Ownwell’s Westport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Westport. By simply entering your property's estimated assessed value, the calculator uses the median tax rate specific to Westport to provide an accurate estimate of your property tax bill. This valuable resource helps you anticipate potential tax liabilities, making financial planning easier. For those interested in more detailed insights, including neighborhood-specific trends, additional localized information is available below. The assessed value of your property, determined by Bristol County, plays a crucial role in these calculations and may include applicable exemptions.
Property Tax Rates Across Westport, Massachusetts
Property taxes in Westport, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Westport is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Westport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westport 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 Westport's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the 02790 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Westport 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 Westport Tax Rate
0.82%
Average Bristol County Tax Rate
1.27%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westport, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02790 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Westport, Massachusetts
In Westport, 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 Westport, 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 Westport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 02790 has both the highest and lowest median tax bill at $3,648.
Property Tax Assessment Values Across Westport, Massachusetts
Source: Ownwell
$270,400
$556,350
$842,300
Average Westport Assessed Value
$441,800
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 Westport, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02790 | $286,380 | $341,400 | $441,800 | $616,000 | $856,140 |
Source: Ownwell
Property Tax Bills Across Westport, Massachusetts
Property tax bills in Westport, located in Bristol County, MA, are determined by assessing the market value of a property and applying the local tax rate. Homeowners in this area face a median property tax rate that contributes to their annual tax bill. For instance, the median home price in Westport is $441,800, and tax bills vary significantly. At the 25th percentile, homeowners pay around $2,792 annually, while at the 75th percentile, the tax bill rises to about $5,098. The top 10% of tax bills can reach up to $7,051. Several factors influence these tax bills, including property size, location, and any applicable exemptions. The local tax rate is also a crucial element, which is applied to the assessed value of the property. Comparing this to the national median property tax rate of 0.99%, homeowners in Westport may find their tax bills higher or lower depending on their property's assessed value and the local tax rate. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Westport Tax Bill
$3,648
Average Bristol County Tax Bill
$4,707
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Westport, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02790 | $2,338 | $2,792 | $3,648 | $5,098 | $7,051 |
Source: Ownwell