Gill, Massachusetts Property Taxes
The median property tax rate in Gill, MA is 1.69%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Gill, the typical annual property tax bill reaches $3,907, exceeding the national median of $2,690. Property taxes in Gill 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 Gill'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 Gill 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
Gill, 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 Gill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gill 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 Gill, Massachusetts
Property taxes in Gill, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gill is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gill set these rates annually, and they can vary across different neighborhoods. Each year, Gill 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 Gill's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 01354 has both the highest and lowest median property tax rate of 1.69%. Understanding how these areas compare with Gill 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 Gill Tax Rate
1.69%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gill, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01354 | 1.69% | 1.69% | 1.69% | 1.69% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Gill, Massachusetts
In Gill, 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. In Gill, 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 Gill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Gill is $3,907 in the 01354 zip code, which is significantly above the national median property tax rate of 0.99%.
Average Gill Assessed Value
$231,600
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 Gill, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01354 | $148,700 | $191,475 | $231,600 | $289,876 | $364,900 |
Source: Ownwell
Property Tax Bills Across Gill, Massachusetts
In Gill, located in Franklin County, MA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor’s office, which evaluates the property’s market value. Homeowners in Gill face a median property tax rate that is significantly higher than the national median of 0.99%. For instance, the median home price in Gill is $231,600, resulting in a median tax bill of $3,907. Factors such as property size, location, and condition play crucial roles in determining the assessed value. The tax bill can vary significantly, with the 25th percentile at $3,238 and the 75th percentile at $4,898, reaching up to $6,170 at the 90th percentile. This variability means that homeowners need to be aware of how changes in property assessments or local tax rates can impact their annual tax bills. High property taxes can affect overall affordability and should be a key consideration for current and prospective homeowners.
Average Gill Tax Bill
$3,907
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Gill, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01354 | $2,514 | $3,238 | $3,907 | $4,898 | $6,170 |
Source: Ownwell