Shutesbury, Massachusetts Property Taxes
The median property tax rate in Shutesbury, MA is 1.84%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Shutesbury at $295,400, the typical annual property tax bill reaches $5,447, surpassing the national median of $2,690. Property taxes in Shutesbury are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Shutesbury's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Shutesbury or another part of Franklin County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shutesbury, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$5,435
$5,044
Ownwell’s Shutesbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shutesbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shutesbury 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 Shutesbury, Massachusetts
Property taxes in Shutesbury, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shutesbury is 1.84%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Shutesbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shutesbury 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 Shutesbury's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01072 has the highest median property tax rate of 1.84%, while also having the lowest median tax rate of 1.84%. Understanding how these cities compare with Shutesbury 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 Shutesbury Tax Rate
1.84%
Average Franklin County Tax Rate
1.69%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shutesbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01072 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Shutesbury, Massachusetts
In Shutesbury, 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 Shutesbury, 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 Shutesbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Shutesbury are both $5,447, found in the zip code 01072.
Property Tax Assessment Values Across Shutesbury, Massachusetts
Source: Ownwell
$41,900
$262,550
$483,200
Average Shutesbury Assessed Value
$295,400
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 Shutesbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01072 | $173,440 | $232,400 | $295,400 | $387,000 | $488,580 |
Source: Ownwell
Property Tax Bills Across Shutesbury, Massachusetts
In Shutesbury, 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 town's assessor and reflects the market value of the property. The tax rate is set annually by local government authorities and is applied per $1,000 of assessed value. For example, with a median home price of $295,400, the property tax bill can vary significantly. Homeowners in the 25th percentile of tax bills might pay around $4,285, while those in the 75th percentile could see bills as high as $7,136. At the 90th percentile, tax bills can reach up to $9,010. This variability is influenced by factors such as property improvements, neighborhood changes, and market trends. Compared to the national median property tax rate of 0.99%, Shutesbury's property tax can be relatively high, impacting homeowners' annual expenses and potentially influencing their decisions to buy, sell, or invest in property within the area.
Average Shutesbury Tax Bill
$5,447
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Shutesbury, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01072 | $3,198 | $4,285 | $5,447 | $7,136 | $9,010 |
Source: Ownwell