Phillipston, Massachusetts Property Taxes
The median property tax rate in Phillipston, MA is 1.28%, considerably higher than both the national median of 0.99% and the Massachusetts state median of 1.23%. With the median home value in Phillipston at $308,500, the typical annual property tax bill reaches $3,959, exceeding the national median of $2,690. Property taxes in Phillipston 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 Phillipston'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 Phillipston or another part of Worcester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Phillipston, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$3,949
Ownwell’s Phillipston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Phillipston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Phillipston 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 Phillipston, Massachusetts
Property taxes in Phillipston, Massachusetts, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Phillipston is 1.28%, which is higher than both the Massachusetts state median and the U.S. national median of 0.99%. Local government entities within Phillipston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phillipston 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 Phillipston's effective property tax rate to other counties in Massachusetts and the national median. For comparison, the zip code 01331 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Phillipston 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 Phillipston Tax Rate
1.28%
Average Worcester County Tax Rate
1.43%
Average Massachusetts Tax Rate
1.23%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phillipston, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01331 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Phillipston, Massachusetts
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Phillipston, Massachusetts. The market value represents 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. Assessment notices in Phillipston 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, Phillipston's zip code 01331 has both the highest and lowest median tax bill, valued at $3959. Identifying opportunities for protesting assessments or applying for exemptions can effectively manage the tax burden.
Property Tax Assessment Values Across Phillipston, Massachusetts
Source: Ownwell
$117,500
$415,400
$713,300
Average Phillipston Assessed Value
$308,500
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 Phillipston, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01331 | $200,440 | $238,600 | $308,500 | $398,150 | $485,500 |
Source: Ownwell
Property Tax Bills Across Phillipston, Massachusetts
In Phillipston, property tax bills are calculated based on the assessed value of a home, which is determined by the Worcester County assessor's office. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $308,500, homeowners can expect their tax bills to fall within a range, depending on their property's exact value and any applicable exemptions. The 25th percentile tax bill in Phillipston is approximately $3,064, while those in the 75th percentile can see bills around $5,099. At the higher end, the 90th percentile tax bill reaches up to $6,214. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the region's specific property values and tax rates. Homeowners in Phillipston should be aware that their property tax bills can significantly impact their annual expenses. Understanding how these bills are calculated and exploring potential exemptions can help manage and possibly reduce their financial burden.
Average Phillipston Tax Bill
$3,959
Average Worcester County Tax Bill
$5,153
Average Massachusetts Tax Bill
$5,844
Average United States Tax Bill
$2,690
Property Tax Bills Across Phillipston, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 01331 | $2,573 | $3,064 | $3,959 | $5,099 | $6,214 |
Source: Ownwell