Hatfield, Massachusetts Property Taxes
The median property tax rate in Hatfield, MA is 1.42%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Hatfield at $339,250, the typical annual property tax bill reaches $4,818, significantly exceeding the national median of $2,690. Property taxes in Hatfield 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 Hatfield'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 Hatfield 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
Hatfield, 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 Hatfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatfield 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 Hatfield, Massachusetts
Property taxes in Hatfield, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatfield is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hatfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatfield 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 Hatfield's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 01038 has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Hatfield 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 Hatfield Tax Rate
1.42%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01038 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Hatfield, Massachusetts
In Hatfield, 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 Hatfield, 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 Hatfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $4,818 in the 01038 zip code, while the lowest is also $4,818 in the same zip code.
Average Hatfield Assessed Value
$339,250
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 Hatfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01038 | $330,810 | $333,975 | $339,250 | $344,525 | $347,690 |
Source: Ownwell
Property Tax Bills Across Hatfield, Massachusetts
In Hatfield, Massachusetts, 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 Franklin County assessor's office and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, market trends, and neighborhood characteristics can influence the assessed value. Homeowners in Hatfield typically see tax bills around $4,743 at the 25th percentile and up to $4,937 at the 90th percentile. The median tax bill in the area is $4,818, which is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, but it also contributes to the funding of local services such as schools, public safety, and infrastructure. Understanding these factors can help homeowners anticipate their tax obligations and budget accordingly.
Average Hatfield Tax Bill
$4,818
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01038 | $4,698 | $4,743 | $4,818 | $4,892 | $4,937 |
Source: Ownwell