Nantucket, Nantucket County, Massachusetts Property Taxes

Name: Property Tax Bills Across Nantucket, Nantucket County, Massachusetts
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Nantucket, MA effective property tax rate: 0.32%, significantly lower than the national median of 1.02%, but lower than the Massachusetts state median of 1.23%.
Median Nantucket, MA home value: $1,706,800
Median annual Nantucket, MA tax bill: $5,476, $3,076 higher than the national median property tax bill of $2,400.

How are property taxes in Nantucket calculated?

Property taxes in Nantucket, MA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Nantucket’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Nantucket, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Nantucket, Nantucket County, Massachusetts Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.32%

Estimate Property Tax Bill

$5,462

$5,068

Ownwell’s Nantucket Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Nantucket with just two data points. By entering your property's estimated assessed value, our calculator applies Nantucket’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Nantucket. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Nantucket, Nantucket County, Massachusetts

Local government entities set tax rates, leading to significant variations within Massachusetts. This is because each county annually estimates its budget needs to provide essential services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core of the annual process.

Nantucket in Massachusetts offers a unique perspective on property taxes. The effective property tax rate in Nantucket is notably lower than both the state and national medians. This means that property owners in Nantucket benefit from a more favorable tax environment compared to many other parts of the country. Comparing Nantucket’s effective property tax rate to other cities in Massachusetts and the national median highlights the potential savings for property owners in Nantucket. With a national median property tax rate of 1.02% and a median property tax bill of $2,400, Nantucket stands out as a more affordable option for those looking to manage their property tax expenses effectively.

Property Tax Rates Across Nantucket, Nantucket County, Massachusetts

Source: Ownwell

0.32%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Nantucket Tax Rate

0.32%

Median Effective Nantucket County Tax Rate

0.32%

Median Effective Massachusetts Tax Rate

1.23%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Nantucket, Nantucket County, Massachusetts

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
02554	0.32%	0.32%	0.32%	0.32%	0.32%
02564	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Nantucket, Nantucket County, Massachusetts

When examining property taxes in Nantucket, MA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Nantucket County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Nantucket County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Nantucket. For example, the median home price in Nantucket is $1,706,800, with tax bills ranging significantly across the county. 02554 has the highest median home price at $1,706,300.

Property Tax Assessment Values Across Nantucket, Nantucket County, Massachusetts

Source: Ownwell

$1,706,300

Median Nantucket Market Value

$1,706,800

Median Nantucket County Market Value

$1,707,200

Median Massachusetts Market Value

$492,600

Median United States Market Value

$235,294

Property Tax Assessment Values Across Nantucket, Nantucket County, Massachusetts

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
02554	$845,470	$1,179,575	$1,706,300	$2,792,700	$4,268,928
02564	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Nantucket, Nantucket County, Massachusetts

In Nantucket, MA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as location, property size, and market conditions can influence the assessed value. Homeowners in Nantucket face significant tax bills, with the median tax bill in the area reaching $5,474, which is considerably higher than the national median of $2,400. This high rate can be burdensome for homeowners, especially when the tax bill can range from $3,787 at the 25th percentile to $13,715 at the 90th percentile.

Ownwell specializes in assisting homeowners in reducing their property tax bills by appealing their assessed values. By providing expert analysis and representation, Ownwell can help ensure that homeowners are not overpaying on their property taxes. This can lead to substantial savings, allowing homeowners to better manage their financial obligations and maintain their quality of life in Nantucket.

Property Tax Bills Across Nantucket, Nantucket County, Massachusetts

Source: Ownwell

$5,474

Median Nantucket Tax Bill

$5,476

Median Nantucket County Tax Bill

$5,477

Median Massachusetts Tax Bill

$5,844

Median United States Tax Bill

$2,400

Property Tax Bills Across Nantucket, Nantucket County, Massachusetts

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
02554	$2,711	$3,786	$5,474	$8,965	$13,706
02564	N/A	N/A	N/A	N/A	N/A

Source: Ownwell