Charlemont, Massachusetts Property Taxes
The median property tax rate in Charlemont, MA is 2.06%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Charlemont, the typical annual property tax bill reaches $4,093, exceeding the national median of $2,690. Property taxes in Charlemont 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 Charlemont'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 Charlemont 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
Charlemont, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.06%
Estimate Property Tax Bill
$4,338
Ownwell’s Charlemont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlemont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlemont 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 Charlemont, Massachusetts
Property taxes in Charlemont, Massachusetts, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlemont is 2.06%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Charlemont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlemont 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 Charlemont's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01339 zip code has the highest median property tax rate of 2.06%, while the same zip code also has the lowest median tax rate of 2.06%. Understanding how these areas compare with Charlemont 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 Charlemont Tax Rate
2.06%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlemont, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01339 | 1.67% | 1.69% | 2.06% | 2.06% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Charlemont, Massachusetts
In Charlemont, 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 Assessor 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 Charlemont, 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 Charlemont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Charlemont is $4,093 in the 01339 zip code, while the lowest median tax bill is also $4,093 in the same zip code.
Property Tax Assessment Values Across Charlemont, Massachusetts
Source: Ownwell
$41,900
$262,550
$483,200
Average Charlemont Assessed Value
$210,600
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 Charlemont, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01339 | $94,360 | $155,600 | $210,600 | $286,400 | $368,760 |
Source: Ownwell
Property Tax Bills Across Charlemont, Massachusetts
Property tax bills in Charlemont, located in Franklin County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value. This value is then multiplied by the town's tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, condition, and any improvements made. Homeowners in Charlemont can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $3,039, while the 75th percentile reaches around $5,426, and the 90th percentile can go up to $6,914. Compared to the national median property tax rate of 0.99%, Charlemont's tax bills reflect the local economic conditions and property values. These taxes are crucial for funding public services like schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Charlemont Tax Bill
$4,093
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlemont, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01339 | $1,753 | $3,039 | $4,093 | $5,426 | $6,914 |
Source: Ownwell