Greenfield, Massachusetts Property Taxes
The median property tax rate in Greenfield, MA is 1.96%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Greenfield at $231,500, the typical annual property tax bill reaches $4,547, exceeding the national median of $2,690. Property taxes in Greenfield 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 Greenfield'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 Greenfield or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenfield, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$4,537
$4,211
Ownwell’s Greenfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield 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 Greenfield, Massachusetts
Property taxes in Greenfield, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenfield is 1.96%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Greenfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenfield 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 Greenfield's effective property tax rate to other areas in Franklin County and the national median. For comparison, Greenfield itself has the highest median property tax rate in Franklin County at 1.96%, while also having the lowest median tax rate at the same percentage. Understanding how Greenfield compares within Franklin County provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenfield Tax Rate
1.96%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01301 | 1.96% | 1.96% | 1.96% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield, Massachusetts
In Greenfield, 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 Greenfield, 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 Greenfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,547, found in the 01301 zip code.
Property Tax Assessment Values Across Greenfield, Massachusetts
Source: Ownwell
$41,900
$262,550
$483,200
Average Greenfield Assessed Value
$231,500
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 Greenfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01301 | $163,270 | $195,200 | $231,500 | $283,975 | $358,830 |
Source: Ownwell
Property Tax Bills Across Greenfield, Massachusetts
In Greenfield, located in Franklin County, MA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the town's assessors, who evaluate the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Greenfield, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $3,834, while at the 75th percentile, it rises to $5,575. At the 90th percentile, it further increases to $7,012. The median home price in Greenfield is $231,500, which contributes to the overall tax burden. Comparatively, the highest and lowest median tax bills in the area are both $4,547, indicating a relatively consistent tax rate across different properties. These property taxes can have a significant impact on homeowners' finances, influencing decisions on buying, selling, or maintaining properties in Greenfield.
Average Greenfield Tax Bill
$4,547
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01301 | $3,208 | $3,834 | $4,547 | $5,575 | $7,012 |
Source: Ownwell