01245 Property Tax Rate

Property owners in ZIP code 01245 (Monterey, Massachusetts) pay a median of $2,867/year in property taxes on homes valued at $602,900. This translates to an effective tax rate of 0.48%, which is 58% below the Massachusetts state average of 1.13%.

The monthly property tax burden for a median-valued home in 01245 is approximately $239, which factors into escrow payments on mortgages. This ZIP code is located within Berkshire County. This is $2,865 less than the Massachusetts average of $5,732/year.

Compared to similar ZIP codes in Massachusetts, 01245 has lower property taxes. ZIP codes with similar effective rates include 02119 (0.48%) and 02125 (0.49%).

In Monterey, property taxes represent approximately 2.5% of the median household income of $113,750, providing context for the relative tax burden on homeowners in this area.

Massachusetts Chapter 59 exemptions for seniors (65+), veterans, and surviving spouses reduce your assessed value by amounts set by each municipality, often $1,000–$2,500 on Berkshire County properties. File your exemption claim with the Berkshire County Assessor by April 1 each year if you own and occupy the property as your primary residence. Berkshire County Assessor's office will review your income and residency proof—apply before April 1 of the year following purchase to capture the benefit on your next tax bill.