Cummington, Massachusetts Property Taxes
The median property tax rate in Cummington, MA is 1.35%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Cummington at $264,700, the typical annual property tax bill reaches $3,652, exceeding the national median of $2,690. Property taxes in Cummington 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 Cummington'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 Cummington 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
Cummington, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$3,573
$3,316
Ownwell’s Cummington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cummington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cummington 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 Cummington, Massachusetts
Property taxes in Cummington, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cummington is 1.35%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Cummington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cummington 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 Cummington's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01026 zip code has both the highest and lowest median property tax rate of 1.35%. Understanding how these areas compare with Cummington 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 Cummington Tax Rate
1.35%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cummington, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01026 | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Cummington, Massachusetts
In Cummington, 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 Hampshire County Assessor 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 Cummington, 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 Cummington is $264,700, with tax bills ranging from $2,762 at the 25th percentile to $6,337 at the 90th percentile. The zip code 01026 has both the highest and lowest median tax bills, at $3,652. 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 Cummington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cummington, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Cummington Assessed Value
$264,700
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 Cummington, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01026 | $137,130 | $201,638 | $264,700 | $354,100 | $446,710 |
Source: Ownwell
Property Tax Bills Across Cummington, Massachusetts
Property tax bills in Cummington, Hampshire County, MA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office, which evaluates the property's market value and then applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Cummington can expect their tax bills to vary significantly depending on the value of their property. For instance, the median home price in Cummington is $264,700. Property tax bills can range widely, with the 25th percentile tax bill at $2,762 and the 75th percentile reaching $4,852. The 90th percentile tax bill can go as high as $6,337. This variability means that homeowners with higher-valued properties will pay more in property taxes, potentially affecting their overall housing costs. Compared to the national median property tax rate of 0.99%, homeowners in this region experience a diverse range of tax obligations, reflecting the local property values and tax policies.
Average Cummington Tax Bill
$3,652
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Cummington, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01026 | $1,889 | $2,762 | $3,652 | $4,852 | $6,337 |
Source: Ownwell