Prides Crossing, Massachusetts Property Taxes
The median property tax rate in Prides Crossing, MA is 1.12%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Prides Crossing at $1,347,000, the typical annual property tax bill reaches $15,126, far exceeding the national median of $2,690. Property taxes in Prides Crossing 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 Prides Crossing'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 Prides Crossing or another part of Essex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prides Crossing, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$15,086
Ownwell’s Prides Crossing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prides Crossing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prides Crossing 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 Prides Crossing, Massachusetts
Property taxes in Prides Crossing, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prides Crossing is 1.12%, higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Prides Crossing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prides Crossing 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 Prides Crossing's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01965 zip code has the highest median property tax rate of 1.12%, while the 01965 zip code has the lowest median tax rate of 1.12%. Understanding how these cities compare with Prides Crossing provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prides Crossing Tax Rate
1.12%
Average Essex County Tax Rate
1.12%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prides Crossing, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01965 | 1.12% | 1.12% | 1.12% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Prides Crossing, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Prides Crossing, Massachusetts. 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 Essex 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 Prides Crossing, 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. The median home price in Prides Crossing is $1,347,000. The median tax bill ranges from $11,107 at the 25th percentile to $16,549 at the 90th percentile. The highest and lowest median tax bills are both $15,126 in the zip code 01965. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Prides Crossing, Massachusetts
Source: Ownwell
$258,000
$802,500
$1,347,000
Average Prides Crossing Assessed Value
$1,347,000
Average Essex County Assessed Value
$545,500
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prides Crossing, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01965 | $885,450 | $989,100 | $1,347,000 | $1,439,025 | $1,473,650 |
Source: Ownwell
Property Tax Bills Across Prides Crossing, Massachusetts
In Prides Crossing, Essex County, MA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local assessor’s office and reflects the market value of your property. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. For instance, with a median home price of $1,347,000, homeowners in Prides Crossing face a significant tax burden. The 25th percentile tax bill is around $11,107, while those in the 75th percentile pay approximately $16,160. At the 90th percentile, the tax bill can go up to $16,549. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the high property values in the area. This system ensures that property taxes are proportionate to the value of the property, which can significantly impact homeowners' annual expenses, especially in high-value areas like Prides Crossing.
Average Prides Crossing Tax Bill
$15,126
Average Essex County Tax Bill
$6,145
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Prides Crossing, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01965 | $9,944 | $11,107 | $15,126 | $16,160 | $16,549 |
Source: Ownwell