Holland, Massachusetts Property Taxes
The median property tax rate in Holland, MA is 1.31%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Holland at $301,050, the typical annual property tax bill reaches $3,940, exceeding the national median of $2,690. Property taxes in Holland 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 Holland'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 Holland 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
Holland, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$3,944
$3,660
Ownwell’s Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Massachusetts
Property taxes in Holland, Massachusetts, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 1.31%, higher than the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other areas in Hampden County and the national median. For comparison, the zip code 01521 has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these areas compare with Holland 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 Holland Tax Rate
1.31%
Average Hampden County Tax Rate
1.70%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01521 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Holland, MA. 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 Holland 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Holland are both $3,940 in the 01521 zip code, which contrasts with the national median property tax rate of 0.99%.
Average Holland Assessed Value
$301,050
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 Holland, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01521 | $179,370 | $227,725 | $301,050 | $384,450 | $485,310 |
Source: Ownwell
Property Tax Bills Across Holland, Massachusetts
In Holland, 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 Hampden County assessor's office, which evaluates the market value of properties within the area. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. In Holland, the median home price is $301,050, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $2,981 annually, while those in the 75th percentile face bills of approximately $5,032. At the higher end, the 90th percentile sees tax bills reaching $6,353. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the community's overall quality of life. Compared to the national median property tax rate of 0.99%, Holland's rates reflect the specific needs and values of the local area.
Average Holland Tax Bill
$3,940
Average Hampden County Tax Bill
$4,101
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01521 | $2,348 | $2,981 | $3,940 | $5,032 | $6,353 |
Source: Ownwell