Chesterfield, Massachusetts Property Taxes
The median property tax rate in Chesterfield, MA is 1.59%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With a median home value of $275,400 in Chesterfield, the typical annual property tax bill reaches $4,688, far exceeding the national median of $2,690. Property taxes in Chesterfield 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 Chesterfield'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 Chesterfield 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
Chesterfield, 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 Chesterfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesterfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesterfield 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 Chesterfield, Massachusetts
Property taxes in Chesterfield, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesterfield is 1.59%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Chesterfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesterfield 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 Chesterfield's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01012 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Chesterfield provides valuable insights into the varying tax landscape across Hampshire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesterfield Tax Rate
1.59%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesterfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01012 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Chesterfield, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chesterfield, Massachusetts. 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 Hampshire 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 Chesterfield, 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 Chesterfield is $275,400, with tax bills ranging from $3,494 at the 25th percentile to $7,486 at the 90th percentile. The highest and lowest median tax bills are both $4,688 in the 01012 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chesterfield, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Chesterfield Assessed Value
$275,400
Average Hampshire County Assessed Value
$310,200
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesterfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01012 | $9,078 | $188,400 | $275,400 | $356,350 | $464,260 |
Source: Ownwell
Property Tax Bills Across Chesterfield, Massachusetts
In Chesterfield, MA, property tax bills are calculated based on the assessed value of a homeowner's property and the local tax rate. The assessed value is determined by the local assessor’s office, which evaluates the property's market value. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Several factors can influence the assessed value, including the size of the property, location, and any improvements or renovations made. For instance, the median home price in Chesterfield is $275,400. Property tax bills can vary significantly, with the 25th percentile at $3,494 and the 75th percentile at $6,034, reflecting differences in property values and assessments. Homeowners in Chesterfield might find their property tax bills higher than the national median property tax rate of 0.99%, which can impact their overall housing costs. Understanding these factors can help homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Chesterfield Tax Bill
$4,688
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesterfield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01012 | $2,442 | $3,494 | $4,688 | $6,034 | $7,486 |
Source: Ownwell