Middlefield, Massachusetts Property Taxes
The median property tax rate in Middlefield, MA is 1.66%, significantly higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Middlefield at $209,700, the typical annual property tax bill reaches $3,471, surpassing the national median of $2,690. Property taxes in Middlefield are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Middlefield'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 Middlefield 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
Middlefield, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$3,481
Ownwell’s MIDDLEFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MIDDLEFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MIDDLEFIELD 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 Middlefield, Massachusetts
Property taxes in Middlefield, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlefield is 1.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Middlefield set these rates annually, and they can vary across different neighborhoods. Each year, Middlefield 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 Middlefield's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the ZIP code 01243 has the highest median property tax rate of 1.66%, while the same ZIP code also has the lowest median tax rate of 1.66%. Understanding how Middlefield compares with other areas 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 Middlefield Tax Rate
1.66%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middlefield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01243 | 1.65% | 1.65% | 1.66% | 1.66% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Middlefield, Massachusetts
In Middlefield, 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 Middlefield, 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. For instance, the median annual tax bill in Middlefield is $3,471, with the highest and lowest median tax bills both recorded at $3,471 in the 01243 zip code. 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 Middlefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Middlefield, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Middlefield Assessed Value
$209,700
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 Middlefield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01243 | $90,500 | $154,550 | $209,700 | $265,600 | $377,600 |
Source: Ownwell
Property Tax Bills Across Middlefield, Massachusetts
In Middlefield, 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 city's assessor, who evaluates the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Middlefield can expect a median tax bill of approximately $3,471, which is significantly higher than the national median property tax rate of 0.99%. For instance, homes in the 25th percentile of tax bills pay around $2,558, while those in the 75th percentile face bills up to $4,396. At the upper end, the 90th percentile sees tax bills as high as $6,249. These tax bills can significantly impact homeowners, affecting their monthly housing costs and overall financial planning. Understanding how these bills are calculated helps homeowners anticipate and manage their property tax obligations effectively.
Average Middlefield Tax Bill
$3,471
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlefield, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01243 | $1,498 | $2,558 | $3,471 | $4,396 | $6,249 |
Source: Ownwell