Granville, Massachusetts Property Taxes
The median property tax rate in Granville, 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 Granville at $298,600, the typical annual property tax bill reaches $3,417, exceeding the national median of $2,690. Property taxes in Granville 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 Granville'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 Granville 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
Granville, 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 Granville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Granville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granville to project your property tax bill. This invaluable tool provides clarity on potential tax liabilities. For those interested in understanding trends at a neighborhood level, more localized information is available below. Your property’s assessed value, determined by Hampden County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Granville, Massachusetts
Property taxes in Granville, Massachusetts, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granville is 1.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Granville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granville 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 Granville's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the 01034 zip code 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 Granville 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 Granville Tax Rate
1.42%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01034 | 0.80% | 0.80% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Granville, Massachusetts
In Granville, Massachusetts, understanding the difference between "market value" and "assessed value" is essential 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. Assessment notices in Granville 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. Granville’s median home price is $298,600, and the tax bills range from $2,502 at the 25th percentile to $5,735 at the 90th percentile. The highest and lowest median tax bills are both $3,417 in the 01034 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Granville, Massachusetts
Source: Ownwell
$59,100
$292,600
$526,100
Average Granville Assessed Value
$298,600
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 Granville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01034 | $184,698 | $233,600 | $298,600 | $382,500 | $507,020 |
Source: Ownwell
Property Tax Bills Across Granville, Massachusetts
In Granville, located in Hampden 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 property's market value. Homeowners in Granville face property tax bills that vary significantly. For example, the tax bill at the 25th percentile is $2,502, while at the 75th percentile, it rises to $4,538. The 90th percentile sees tax bills as high as $5,735. These tax bills are influenced by several factors, including the property's size, location, and condition. For instance, homes in the zip code 01034 have a median tax bill of $3,417, which is a reflection of the area's property values and tax rates. Compared to the national median property tax rate of 0.99%, Granville's property tax bills can be relatively high, impacting homeowners' annual expenses and financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Granville Tax Bill
$3,417
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Granville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01034 | $1,670 | $2,502 | $3,417 | $4,538 | $5,735 |
Source: Ownwell