Goshen, Massachusetts Property Taxes
The median property tax rate in Goshen, MA is 1.48%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Goshen at $308,900, the typical annual property tax bill reaches $4,568, exceeding the national median of $2,690. Property taxes in Goshen 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 Goshen'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 Goshen 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
Goshen, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$4,572
Ownwell’s Goshen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goshen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goshen 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 Goshen, Massachusetts
Property taxes in Goshen, Massachusetts, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goshen is 1.48%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Goshen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goshen 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 Goshen's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01032 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Goshen 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 Goshen Tax Rate
1.48%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goshen, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01032 | 1.48% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Goshen, Massachusetts
In Goshen, 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 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 Goshen, 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 Goshen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area can be found in the 01032 zip code, with a value of $4,568.
Average Goshen Assessed Value
$308,900
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 Goshen, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01032 | $144,180 | $214,925 | $308,900 | $370,750 | $456,640 |
Source: Ownwell
Property Tax Bills Across Goshen, Massachusetts
In Goshen, Hampshire 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 local assessors who evaluate the property's market value. The tax rate is then applied to this assessed value to calculate the tax bill. For instance, the median home price in Goshen is $308,900, which serves as a baseline for assessments. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Goshen see a range of tax bills, with the 25th percentile at $3,178 and the 75th percentile at $5,483. The 90th percentile tax bill can reach up to $6,754, indicating higher taxes for more valuable properties. These property taxes fund essential local services like schools, public safety, and infrastructure, directly impacting homeowners. Comparatively, the national median property tax rate is 0.99%, making Goshen's property taxes a significant consideration for residents.
Average Goshen Tax Bill
$4,568
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Goshen, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01032 | $2,133 | $3,178 | $4,568 | $5,483 | $6,754 |
Source: Ownwell