West Whately, Massachusetts Property Taxes
The median property tax rate in West Whately, 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 West Whately at $353,800, the typical annual property tax bill reaches $5,024, exceeding the national median of $2,690. Property taxes in West Whately 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 West Whately'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 West Whately 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
West Whately, 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 West Whately Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in West Whately with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Whately to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, there is more localized information available below. Your property’s assessed value is the value assigned by Franklin County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across West Whately, Massachusetts
Property taxes in West Whately, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Whately is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within West Whately set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Whately 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 West Whately's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01039 in Franklin County 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 West Whately 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 West Whately 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 West Whately, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01039 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across West Whately, Massachusetts
In West Whately, 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 West Whately, 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 West Whately 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 $5,024 in the 01039 zip code, which offers a perspective on the variability in tax obligations within the region.
Property Tax Assessment Values Across West Whately, Massachusetts
Source: Ownwell
$41,900
$262,550
$483,200
Average West Whately Assessed Value
$353,800
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 West Whately, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01039 | $251,100 | $279,900 | $353,800 | $439,110 | $524,520 |
Source: Ownwell
Property Tax Bills Across West Whately, Massachusetts
In West Whately, located in Franklin County, MA, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price in this area is $353,800. Homeowners can expect a tax bill that varies significantly based on their property’s assessed value, with the 25th percentile tax bill at $3,974 and the 75th percentile tax bill rising to $6,236. For those at the higher end, the 90th percentile tax bill reaches $7,448. These property taxes are calculated by multiplying the assessed value of the property by the local tax rate. This rate is influenced by various factors, including local government budgets and public service funding needs. Homeowners in West Whately generally face higher property tax bills compared to the national median property tax rate of 0.99%, reflecting the area's higher property values and funding requirements. This can have a significant impact on household budgets, making it crucial for homeowners to understand their property assessments and potential tax liabilities.
Average West Whately Tax Bill
$5,024
Average Franklin County Tax Bill
$4,270
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across West Whately, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01039 | $3,566 | $3,974 | $5,024 | $6,236 | $7,448 |
Source: Ownwell