Chester, Massachusetts Property Taxes
The median property tax rate in Chester, MA is 1.78%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Chester, the typical annual property tax bill reaches $3,530, exceeding the national median of $2,690. Property taxes in Chester 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 Chester'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 Chester 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
Chester, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$3,524
$3,271
Ownwell’s Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chester 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 Chester, Massachusetts
Property taxes in Chester, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chester is 1.78%, notably higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chester 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 Chester's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01011 has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Chester 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 Chester Tax Rate
1.78%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chester, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01011 | 1.78% | 1.78% | 1.78% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Chester, Massachusetts
In Chester, 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 Chester, 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 Chester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Chester, the median home price is $198,000. Homeowners in the 25th percentile can expect a tax bill around $2,670, while those in the 75th percentile might see a bill closer to $4,916. The highest and lowest median tax bills are both $3,530, found in the 01011 zip code.
Average Chester Assessed Value
$198,000
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 Chester, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01011 | $109,020 | $149,775 | $198,000 | $275,725 | $365,590 |
Source: Ownwell
Property Tax Bills Across Chester, Massachusetts
In Chester, located in Hampden County, MA, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Chester is $198,000. Homeowners can expect their property tax bills to vary depending on the assessed value of their property and the specific tax rate applied. For instance, the tax bill at the 25th percentile is $2,670, while at the 75th percentile, it rises to $4,916. At the 90th percentile, homeowners might see tax bills as high as $6,519. The highest and lowest median tax bills in Chester are both $3,530, found in the 01011 zip code. This suggests a level of consistency in tax rates across the area. Compared to the national median property tax rate of 0.99%, Chester’s property taxes can be seen as relatively moderate. These tax bills significantly impact homeowners by influencing their annual financial planning and the overall cost of owning property in Chester.
Average Chester Tax Bill
$3,530
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Chester, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01011 | $1,943 | $2,670 | $3,530 | $4,916 | $6,519 |
Source: Ownwell