Westhampton, Massachusetts Property Taxes
The median property tax rate in Westhampton, MA is 2.01%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Westhampton, the typical annual property tax bill reaches $6,233, exceeding the national median of $2,690. Property taxes in Westhampton 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 Westhampton'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 Westhampton 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
Westhampton, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$6,260
$5,809
Ownwell’s Westhampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westhampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westhampton 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 Westhampton, Massachusetts
Property taxes in WESTHAMPTON, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in WESTHAMPTON is 2.01%, significantly higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within WESTHAMPTON set these rates annually, and they can vary significantly across different neighborhoods. Each year, WESTHAMPTON 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 WESTHAMPTON's effective property tax rate to other areas in Massachusetts and the national median. For comparison, the 01027 zip code has the highest median property tax rate of 2.01%, while the 01027 zip code also has the lowest median tax rate of 2.01%. Understanding how these areas compare with WESTHAMPTON 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 Westhampton Tax Rate
2.01%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westhampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01027 | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Westhampton, Massachusetts
In Westhampton, 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 Westhampton, 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 Westhampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $6,233 in the 01027 zip code, while the lowest is also $6,233 in the same zip code.
Property Tax Assessment Values Across Westhampton, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Westhampton Assessed Value
$311,450
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 Westhampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01027 | $171,150 | $229,000 | $311,450 | $399,262 | $485,350 |
Source: Ownwell
Property Tax Bills Across Westhampton, Massachusetts
In Westhampton, MA, property tax bills are calculated based on the assessed value of the home and the local tax rate set by Hampshire County. The median home price in Westhampton is $311,450, which serves as a benchmark for determining property taxes. Homeowners in this area can expect tax bills that vary widely depending on the assessed value of their properties and the specific tax rate applied. Factors influencing the tax bill include the home's assessed value, which is determined by the local assessor's office, and any applicable exemptions. For example, properties in the 25th percentile have tax bills around $4,548, while those in the 75th percentile face bills closer to $8,026. At the higher end, the 90th percentile tax bills can reach up to $9,770. These property taxes significantly impact homeowners, influencing both monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Westhampton may experience different financial pressures based on their specific property assessments and local tax rates.
Average Westhampton Tax Bill
$6,233
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Westhampton, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01027 | $3,445 | $4,548 | $6,233 | $8,026 | $9,770 |
Source: Ownwell