Bondsville, Massachusetts Property Taxes
The median property tax rate in Bondsville, MA is 2.03%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Bondsville at $185,300, the typical annual property tax bill reaches $3,765, exceeding the national median of $2,690. Property taxes in Bondsville 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 Bondsville'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 Bondsville 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
Bondsville, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$3,762
Ownwell’s Bondsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bondsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bondsville 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 Bondsville, Massachusetts
Property taxes in Bondsville, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bondsville is 2.03%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Bondsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bondsville 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 Bondsville's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01009 zip code has the highest median property tax rate of 2.03%, while the same zip code also has the lowest median tax rate of 2.03%. Understanding how these cities compare with Bondsville 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 Bondsville Tax Rate
2.03%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bondsville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01009 | 2.03% | 2.03% | 2.03% | 2.03% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Bondsville, Massachusetts
In Bondsville, 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 Bondsville, 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 Bondsville 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 01009, with a value of $3,765.
Property Tax Assessment Values Across Bondsville, Massachusetts
Source: Ownwell
$59,100
$292,600
$526,100
Average Bondsville Assessed Value
$185,300
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 Bondsville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01009 | $132,800 | $155,375 | $185,300 | $234,050 | $286,120 |
Source: Ownwell
Property Tax Bills Across Bondsville, Massachusetts
In Bondsville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's market value, location, and any applicable exemptions are considered in this assessment. Homeowners in Bondsville experience varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $3,158, while the 75th percentile tax bill reaches approximately $4,756. At the higher end, the 90th percentile tax bill is about $5,814. These figures highlight the range of property tax burdens that homeowners may face. Compared to the national median property tax rate of 0.99%, Bondsville’s rates reflect the specific economic and market conditions of Hampden County. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Bondsville Tax Bill
$3,765
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Bondsville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01009 | $2,698 | $3,158 | $3,765 | $4,756 | $5,814 |
Source: Ownwell