Rowe, Massachusetts Property Taxes
The median property tax rate in Rowe, MA is 0.52%, significantly lower than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $232,100 in Rowe, the typical annual property tax bill is $1,337, which is also below the national median of $2,690. Property taxes in Rowe are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rowe'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 Rowe 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
Rowe, 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 ROWE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ROWE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ROWE 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 Franklin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rowe, Massachusetts
Property taxes in Rowe, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rowe is 0.52%, which is significantly lower than both the Massachusetts state median of 1.23% and the U.S. national median of 0.99%. Local government entities within Rowe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rowe 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 Rowe's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01367 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Rowe 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 Rowe Tax Rate
0.52%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rowe, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01367 | 0.52% | 0.52% | 0.52% | 0.52% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Rowe, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rowe, Massachusetts. 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 Rowe, 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 Rowe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 01367, amounting to $1,337.00.
Average Rowe Assessed Value
$232,100
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 Rowe, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01367 | $130,900 | $177,600 | $232,100 | $312,600 | $406,960 |
Source: Ownwell
Property Tax Bills Across Rowe, Massachusetts
In Rowe, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the town's assessor and reflects the property's estimated market value. This value is then multiplied by the local tax rate to calculate the annual property tax bill. The median home price in Rowe is $232,100, and with a tax rate of 0.99%, the typical tax bill is approximately $2,298 annually. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For homeowners in Rowe, tax bills can vary significantly. For instance, those in the 25th percentile pay around $988, while those in the 75th percentile face bills closer to $1,948. At the higher end, the 90th percentile tax bills can reach up to $3,870. The uniformity in the median tax bill across Rowe's zip code 01367, which stands at $1,337, indicates a relatively consistent tax burden within the community. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Rowe Tax Bill
$1,337
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Rowe, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01367 | $748 | $988 | $1,337 | $1,948 | $3,870 |
Source: Ownwell