Williamsburg, Massachusetts Property Taxes
The median property tax rate in Williamsburg, MA is 1.96%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Williamsburg at $298,250, the typical annual property tax bill reaches $5,200, exceeding the national median of $2,690. Property taxes in Williamsburg 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 Williamsburg'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 Williamsburg 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
Williamsburg, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$5,846
Ownwell’s Williamsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamsburg 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 Williamsburg, Massachusetts
Property taxes in Williamsburg, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamsburg is 1.96%, significantly higher than the U.S. national median of 0.99%. Local government entities within Williamsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamsburg 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 Williamsburg's effective property tax rate to other areas and the national median. For comparison, the zip code 01096 has the highest median property tax rate of 1.96%, while the same zip code also has the lowest median tax rate of 1.96%. Understanding how these figures compare with Williamsburg 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 Williamsburg Tax Rate
1.96%
Average Hampshire County Tax Rate
1.63%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamsburg, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01096 | 1.48% | 1.59% | 1.96% | 1.96% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Williamsburg, Massachusetts
In Williamsburg, 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 Williamsburg, 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 Williamsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Williamsburg stands at $298,250, with annual property tax bills ranging from $4,142 at the 25th percentile to $8,371 at the 90th percentile. Notably, the highest and lowest median tax bills are both $5,200 in the zip code 01096.
Property Tax Assessment Values Across Williamsburg, Massachusetts
Source: Ownwell
$189,450
$450,950
$712,450
Average Williamsburg Assessed Value
$298,250
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 Williamsburg, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01096 | $186,480 | $232,700 | $298,250 | $375,800 | $459,560 |
Source: Ownwell
Property Tax Bills Across Williamsburg, Massachusetts
In Williamsburg, Hampshire County, MA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For example, homeowners in Williamsburg can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $4,142, while the 75th percentile reaches up to $6,799, and the 90th percentile can be as high as $8,371. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Williamsburg's property taxes can be relatively high, impacting homeowners by increasing the overall cost of owning a home. Understanding these factors helps homeowners plan and budget accordingly, ensuring they are prepared for their annual property tax obligations.
Average Williamsburg Tax Bill
$5,200
Average Hampshire County Tax Bill
$5,000
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamsburg, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01096 | $3,351 | $4,142 | $5,200 | $6,799 | $8,371 |
Source: Ownwell