Hyde Park, Suffolk County, Massachusetts Property Taxes
Median HYDE PARK, MA effective property tax rate: 1.07%, slightly higher than the national median of 1.02%, but lower than the Massachusetts state median of 1.23%.
Median HYDE PARK, MA home value: $505,050
Median annual HYDE PARK, MA tax bill: $5,424, $3,024 higher than the national median property tax bill of $2,400.
How are property taxes in Suffolk County calculated?
Property taxes in HYDE PARK, 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 HYDE PARK’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in HYDE PARK, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hyde Park, Suffolk County, Massachusetts Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.07%
Estimate Property Tax Bill
$5,404
$5,015
Property Tax Rates Across Hyde Park, Suffolk County, Massachusetts
Local government entities are responsible for setting tax rates, which can differ significantly within a state. This variation occurs because each county estimates its required budget annually to provide essential services and divides that 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 essentially the annual process.
In Hyde Park, located in Suffolk County, Massachusetts, the effective property tax rate stands at 1.07%, which aligns with the highest and lowest median tax rates in the area. Compared to the national median property tax rate of 1.02%, Hyde Park's rate is slightly higher. This comparison highlights the local government's budgeting decisions and property value assessments. Understanding these differences can help property owners anticipate their tax obligations and explore potential savings through appeals or exemptions. By staying informed about local tax rates, property owners can better manage their financial responsibilities and take advantage of opportunities to reduce their tax burden.
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 Hyde Park Tax Rate
1.07%
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 Suffolk County Tax Rate
1.07%
Median Effective Massachusetts Tax Rate
1.23%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hyde Park, Suffolk County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02136 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Hyde Park, Suffolk County, Massachusetts
When examining property taxes in Hyde Park, 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 Suffolk 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.
In Suffolk 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 Hyde Park. For example, the median home price in Hyde Park is $505,050, with tax bills ranging significantly across the county. 02136 has the highest median home price at $505,050.
Property Tax Assessment Values Across Hyde Park, Suffolk County, Massachusetts
Source: Ownwell
$408,200
$1,852,150
$3,296,100
Median Hyde Park Market Value
$505,050
Median Suffolk County Market Value
$641,300
Median Massachusetts Market Value
$492,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hyde Park, Suffolk County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02136 | $352,830 | $431,375 | $505,050 | $608,125 | $716,770 |
Source: Ownwell
Property Tax Bills Across Hyde Park, Suffolk County, Massachusetts
Property Tax Bills Across Hyde Park, Suffolk County, Massachusetts
Source: Ownwell
$4,384
$19,892
$35,400
Median Hyde Park Tax Bill
$5,424
Median Suffolk County Tax Bill
$6,836
Median Massachusetts Tax Bill
$5,844
Median United States Tax Bill
$2,400
Property Tax Bills Across Hyde Park, Suffolk County, Massachusetts
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02136 | $3,789 | $4,633 | $5,424 | $6,531 | $7,698 |
Source: Ownwell