Amherst, Massachusetts Property Taxes
The median property tax rate in Amherst, MA is 1.84%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Amherst at $411,250, the typical annual property tax bill reaches $7,584, exceeding the national median of $2,690. Property taxes in Amherst are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amherst'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 Amherst 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
Amherst, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$7,567
$7,022
Ownwell’s Amherst Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amherst 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 Amherst, Massachusetts
Property taxes in Amherst, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 1.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amherst 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 Amherst's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 01002 has the highest median property tax rate of 1.84%, while zip code 01072 has the lowest median tax rate of 1.84%. Understanding how these areas compare with Amherst provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
1.84%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
| 01072 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, Massachusetts
In Amherst, 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 Franklin 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 Amherst 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 Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 01072 at $8,910, while the lowest is 01002 at $7,479.
Average Amherst Assessed Value
$411,250
Average Franklin County Assessed Value
$252,600
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | $254,680 | $299,400 | $405,600 | $500,900 | $615,680 |
| 01072 | $346,160 | $397,550 | $483,200 | $647,800 | $746,560 |
Source: Ownwell
Property Tax Bills Across Amherst, Massachusetts
In Amherst, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Amherst is $411,250, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile can expect to pay around $5,525 annually, while those in the 75th percentile may face tax bills of approximately $9,257. At the 90th percentile, tax bills can reach up to $11,919. Several factors influence a homeowner's tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. Comparatively, Amherst's property tax bills are higher than the national median property tax rate of 0.99%. Homeowners in the highest median tax bill zip code, 01072, pay around $8,910, whereas those in the lowest median tax bill zip code, 01002, pay about $7,479. These variations can significantly impact homeowners' financial planning and budgeting.
Average Amherst Tax Bill
$7,584
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | $4,696 | $5,521 | $7,479 | $9,236 | $11,353 |
| 01072 | $6,383 | $7,330 | $8,910 | $11,946 | $13,767 |
Source: Ownwell