Agawam, Massachusetts Property Taxes
The median property tax rate in Agawam, MA is 1.58%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Agawam, the typical annual property tax bill reaches $3,787, exceeding the national median of $2,690. Property taxes in Agawam 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 Agawam'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 Agawam 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
Agawam, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,792
Ownwell’s Agawam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Agawam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Agawam 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 Agawam, Massachusetts
Property taxes in Agawam, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Agawam is 1.58%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Agawam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Agawam 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 Agawam's effective property tax rate to other regions in Hampden County and the national median. For comparison, the zip code 01001 has the highest median property tax rate of 1.58%, while the lowest median tax rate is also 1.58% in the same zip code. Understanding how these areas compare with Agawam provides valuable insights into the varying tax landscape across Hampden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Agawam Tax Rate
1.58%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Agawam, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01001 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Agawam, Massachusetts
In Agawam, 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 Hampden 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 Agawam, 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. The median home price in Agawam is $240,000, with tax bills varying significantly across different properties. For example, the 25th percentile tax bill is $3,109, while the 75th percentile tax bill is $4,608, and the 90th percentile tax bill reaches $5,897. The zip code 01001 has both the highest and lowest median tax bill at $3,787. 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 Agawam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Agawam Assessed Value
$240,000
Average Hampden County Assessed Value
$245,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Agawam, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01001 | $148,600 | $197,000 | $240,000 | $292,300 | $374,000 |
Source: Ownwell
Property Tax Bills Across Agawam, Massachusetts
In Agawam, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the city's assessor and reflects the market value of the property. Factors such as location, property size, and condition influence this valuation. Homeowners in Agawam can expect to pay a median property tax bill of $3,787, which is significantly higher than the national median property tax rate of 0.99%. Tax bills in Agawam vary based on the assessed value of the property. For instance, homeowners in the 25th percentile pay around $3,109, while those in the 75th percentile face bills closer to $4,608. At the 90th percentile, tax bills can reach up to $5,897. These variations affect homeowners differently, with higher-valued properties incurring more substantial tax bills. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Agawam Tax Bill
$3,787
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Agawam, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01001 | $2,345 | $3,109 | $3,787 | $4,608 | $5,897 |
Source: Ownwell