Northampton, Massachusetts Property Taxes
The median property tax rate in Northampton, 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 Northampton at $371,700, the typical annual property tax bill reaches $5,888, exceeding the national median of $2,690. Property taxes in Northampton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Northampton'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 Northampton 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
Northampton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$5,873
$5,450
Ownwell’s Northampton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Northampton. By simply entering your property's estimated assessed value, the calculator applies the median tax rate specific to Northampton, providing a clear estimate of your property tax bill. This valuable resource helps you grasp potential tax liabilities with ease. For those interested in neighborhood-level trends, additional localized information is available by scrolling down. Your property’s assessed value, determined by Hampshire County, serves as the basis for property tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Northampton, Massachusetts
Property taxes in Northampton, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Northampton is 1.58%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Northampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Northampton 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 Northampton's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the 01060 zip code has the highest median property tax rate of 1.58%, while the 01062 zip code has the lowest median tax rate of 1.58%. Understanding how these areas compare with Northampton 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 Northampton 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 Northampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01060 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
| 01062 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
| 01063 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Northampton, Massachusetts
In Northampton, 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 Northampton, 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. For instance, the highest median tax bill in Northampton is $11,285 in the 01063 zip code, while the lowest is $4,179 in the 01062 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Northampton, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Northampton Assessed Value
$371,700
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 Northampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01060 | $168,140 | $262,350 | $371,700 | $519,450 | $695,920 |
| 01062 | $258,450 | $260,475 | $263,850 | $267,225 | $269,250 |
| 01063 | $668,810 | $685,175 | $712,450 | $739,725 | $756,090 |
Source: Ownwell
Property Tax Bills Across Northampton, Massachusetts
In Northampton, located in 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 the local assessor’s office, which evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Northampton is $371,700. The tax bill varies significantly across different percentiles, with the 25th percentile paying around $4,156, while those in the 75th percentile face bills up to $8,235. Homeowners in the 90th percentile can see tax bills as high as $11,025. The highest median tax bill in the area is $11,285, found in zip code 01063, whereas the lowest median tax bill is $4,179 in zip code 01062. These property taxes can substantially impact homeowners, influencing decisions on purchasing and maintaining property in Northampton. The local tax rate and assessed values are crucial in determining the financial burden on residents, making it essential for homeowners to stay informed about their property assessments and potential exemptions.
Average Northampton Tax Bill
$5,888
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Northampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01060 | $2,663 | $4,156 | $5,888 | $8,228 | $11,023 |
| 01062 | $4,093 | $4,126 | $4,179 | $4,232 | $4,265 |
| 01063 | $10,594 | $10,853 | $11,285 | $11,717 | $11,976 |
Source: Ownwell