Leeds, Massachusetts Property Taxes
The median property tax rate in Leeds, MA is 1.58%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Leeds, the typical annual property tax bill reaches $5,380, exceeding the national median of $2,690. Property taxes in Leeds 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 Leeds' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Leeds 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
Leeds, 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 Leeds Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leeds with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leeds 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 Leeds, Massachusetts
Property taxes in Leeds, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leeds is 1.58%, which is significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Leeds set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leeds 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 Leeds' effective property tax rate to other areas in Massachusetts and the national median. For comparison, the 01053 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these rates compare with Leeds 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 Leeds Tax Rate
1.58%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leeds, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01053 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Leeds, Massachusetts
In Leeds, 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 Leeds, 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 Leeds helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Leeds is $5380 in the 01053 zip code, while the lowest is also $5380 in the same zip code.
Average Leeds Assessed Value
$339,650
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 Leeds, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01053 | $191,700 | $265,700 | $339,650 | $455,725 | $592,550 |
Source: Ownwell
Property Tax Bills Across Leeds, Massachusetts
In Leeds, located in Hampshire County, MA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate various factors such as the property's size, condition, location, and recent sales of comparable properties. Once the assessed value is established, it is multiplied by the local property tax rate to determine the tax bill. Homeowners in Leeds experience a range of property tax bills. For instance, the 25th percentile tax bill is around $4,209, while the 75th percentile reaches up to $7,218. At the 90th percentile, tax bills can be as high as $9,386. The median home price in Leeds is approximately $339,650, which contributes to these tax figures. Compared to the national median property tax rate of 0.99%, the tax rates in Leeds can significantly impact homeowners, potentially making homeownership more costly. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Leeds Tax Bill
$5,380
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Leeds, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01053 | $3,037 | $4,209 | $5,380 | $7,218 | $9,386 |
Source: Ownwell