Cuttyhunk, Massachusetts Property Taxes
The median property tax rate in Cuttyhunk, MA is 0.33%, considerably lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Cuttyhunk, the typical annual property tax bill reaches $2,522, slightly below the national median of $2,690. Property taxes in Cuttyhunk 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 Cuttyhunk'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 Cuttyhunk 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
Cuttyhunk, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$2,546
$2,362
Ownwell’s Cuttyhunk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cuttyhunk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cuttyhunk 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 Cuttyhunk, Massachusetts
Property taxes in Cuttyhunk, Massachusetts, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Cuttyhunk is 0.33%, which is lower than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Cuttyhunk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cuttyhunk 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 Cuttyhunk's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the highest median property tax rate in Massachusetts is significantly higher, while the lowest median tax rate is also higher than Cuttyhunk's. Understanding how these cities compare with Cuttyhunk 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 Cuttyhunk Tax Rate
0.33%
Average Dukes County Tax Rate
0.53%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cuttyhunk, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02713 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Cuttyhunk, Massachusetts
In Cuttyhunk, 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. In Cuttyhunk, 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. With a median home price of $771,450, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,046, while the 75th percentile reaches $3,424, and the 90th percentile hits $4,521. The highest and lowest median tax bills in Cuttyhunk are both $2,522, found in zip code 02713. 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 Cuttyhunk, Massachusetts
Source: Ownwell
$771,450
$1,142,800
$1,514,150
Average Cuttyhunk Assessed Value
$771,450
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 Cuttyhunk, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02713 | $488,160 | $625,775 | $771,450 | $1,047,250 | $1,382,770 |
Source: Ownwell
Property Tax Bills Across Cuttyhunk, Massachusetts
Property tax bills in Cuttyhunk, located in Dukes County, MA, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local tax assessor, who evaluates the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Cuttyhunk, the median home price is $771,450, which significantly impacts the overall tax bill. Homeowners can expect their property tax bills to vary, with the 25th percentile tax bill at $2,046 and the 75th percentile at $3,424. For those at the 90th percentile, the tax bill can reach up to $4,521. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Cuttyhunk to understand how their tax bills are calculated and how they contribute to the community.
Average Cuttyhunk Tax Bill
$2,522
Average Dukes County Tax Bill
$5,248
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Cuttyhunk, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02713 | $1,596 | $2,046 | $2,522 | $3,424 | $4,521 |
Source: Ownwell