Gilbertville, Massachusetts Property Taxes
The median property tax rate in Gilbertville, MA is 1.33%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Gilbertville at $261,950, the typical annual property tax bill reaches $3,484, exceeding the national median of $2,690. Property taxes in Gilbertville 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 Gilbertville'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 Gilbertville 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
Gilbertville, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$3,484
$3,233
Ownwell’s Gilbertville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilbertville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilbertville 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 Gilbertville, Massachusetts
Property taxes in Gilbertville, Massachusetts, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilbertville is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gilbertville set these rates annually, and they can vary across different neighborhoods. Each year, Gilbertville 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 Gilbertville's effective property tax rate to other areas in Worcester County and the national median. For comparison, the zip code 01031 has both the highest and lowest median property tax rate of 1.33%. Understanding how these areas compare with Gilbertville provides valuable insights into the varying tax landscape across Worcester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilbertville Tax Rate
1.33%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilbertville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01031 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Gilbertville, Massachusetts
In Gilbertville, 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 Worcester 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 Gilbertville, 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 Gilbertville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $3,484 in the 01031 zip code.
Property Tax Assessment Values Across Gilbertville, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Gilbertville Assessed Value
$261,950
Average Worcester County Assessed Value
$360,000
Average Massachusetts Assessed Value
$492,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilbertville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01031 | $144,370 | $190,350 | $261,950 | $349,525 | $434,612 |
Source: Ownwell
Property Tax Bills Across Gilbertville, Massachusetts
In Gilbertville, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. In Worcester County, where Gilbertville is located, the median home price is $261,950. Homeowners in Gilbertville can expect tax bills to vary significantly depending on their property's assessed value. For example, at the 25th percentile, the tax bill is approximately $2,532, while at the 75th percentile, it rises to around $4,648. The 90th percentile sees tax bills reaching up to $5,781. The highest median tax bill in the area is $3,484, which is notably higher than the national median property tax rate of 0.99%. These tax bills can have a substantial impact on homeowners' finances, influencing decisions on buying, selling, or maintaining property in Gilbertville.
Average Gilbertville Tax Bill
$3,484
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilbertville, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01031 | $1,920 | $2,532 | $3,484 | $4,648 | $5,781 |
Source: Ownwell