Pelham, Massachusetts Property Taxes
The median property tax rate in Pelham, MA is 1.79%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Pelham at $388,000, the typical annual property tax bill reaches $6,930, significantly exceeding the national median of $2,690. Property taxes in Pelham 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 Pelham'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 Pelham 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
Pelham, 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 Pelham Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Pelham. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Pelham to provide a clear estimate of your property tax bill. This tool offers a straightforward way to understand potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down for localized information. Remember, your property’s assessed value is determined by Hampshire County for tax purposes and may include applicable exemptions.
Property Tax Rates Across Pelham, Massachusetts
Property taxes in Pelham, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pelham is 1.79%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pelham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pelham 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 Pelham's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the 01002 zip code has the highest median property tax rate of 1.79%, while the same zip code also has the lowest median tax rate of 1.79%. Understanding how these areas compare with Pelham 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 Pelham Tax Rate
1.79%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pelham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | 1.79% | 1.79% | 1.79% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Pelham, Massachusetts
In Pelham, 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 Pelham, 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 Pelham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pelham is $388,000, with tax bills ranging from $5,610 at the 25th percentile to $10,848 at the 90th percentile. The highest and lowest median tax bills are both $6,930, found in the 01002 zip code.
Average Pelham Assessed Value
$388,000
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 Pelham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | $270,540 | $314,100 | $388,000 | $476,150 | $606,220 |
Source: Ownwell
Property Tax Bills Across Pelham, Massachusetts
In Pelham, MA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate, which for Pelham falls within the range seen in Hampshire County. Homeowners in Pelham can expect a median property tax bill of around $6,930, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, a home valued at the median price of $388,000 would result in a tax bill that varies widely, with the 25th percentile at $5,610 and the 75th percentile at $8,504. At the higher end, the 90th percentile tax bill reaches $10,848. These property tax bills can significantly impact homeowners, influencing their financial planning and overall cost of living in Pelham.
Average Pelham Tax Bill
$6,930
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Pelham, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01002 | $4,832 | $5,610 | $6,930 | $8,504 | $10,848 |
Source: Ownwell