Aquinnah, Massachusetts Property Taxes
The median property tax rate in Aquinnah, MA is 0.61%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Aquinnah at $1,514,150, the typical annual property tax bill reaches $9,172, significantly exceeding the national median of $2,690. Property taxes in Aquinnah 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 Aquinnah'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 Aquinnah 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
Aquinnah, Massachusetts Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$2,460
Ownwell’s Aquinnah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aquinnah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aquinnah 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 Aquinnah, Massachusetts
Property taxes in Aquinnah, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aquinnah is 0.61%, lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Aquinnah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aquinnah 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 Aquinnah's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 02535 zip code has the highest median property tax rate of 0.61%, while the 02535 zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Aquinnah provides valuable insights into the varying tax landscape across Dukes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aquinnah Tax Rate
0.61%
Average Dukes County Tax Rate
0.53%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aquinnah, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02535 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Aquinnah, Massachusetts
In Aquinnah, 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 Dukes 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. Assessment notices in Aquinnah 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 Aquinnah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $9,172 in the 02535 zip code.
Property Tax Assessment Values Across Aquinnah, Massachusetts
Source: Ownwell
$771,450
$1,142,800
$1,514,150
Average Aquinnah Assessed Value
$1,514,150
Average Dukes County Assessed Value
$1,154,150
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aquinnah, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02535 | $797,550 | $1,071,550 | $1,514,150 | $2,204,900 | $2,955,810 |
Source: Ownwell
Property Tax Bills Across Aquinnah, Massachusetts
Property tax bills in Aquinnah, located in Dukes County, MA, are calculated based on the assessed value of the property and the local tax rate. The median home price in Aquinnah is $1,514,150, which significantly impacts the tax bills homeowners receive. Tax bills range widely, with the 25th percentile at $6,485 and the 75th percentile at $13,398. The 90th percentile tax bill reaches $17,757, reflecting the variation in property values and assessments. The assessed value, determined by local assessors, considers factors such as property size, location, and market conditions. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. In comparison to the national median property tax rate of 0.99%, Aquinnah's property tax rates and resulting bills are notably high, affecting homeowners by increasing their annual financial obligations. For instance, the highest median tax bill in the area is $9,172, indicating a substantial burden on property owners in this region.
Average Aquinnah Tax Bill
$9,172
Average Dukes County Tax Bill
$5,248
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Aquinnah, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02535 | $4,779 | $6,485 | $9,172 | $13,398 | $17,757 |
Source: Ownwell