In Massachusetts, cities and towns offer a variety of tax exemptions and some (but not all) offer a “Residential Exemption” which can significantly lower residential taxes owed for homeowners who occupy their primary residence.  Residential tax rates and Residential Exemption values typically change each fiscal year and tax collection periods vary by city/town.  Best practice is to verify this information directly with the city/town assessor for the current fiscal year.  Most residential tax bills are also available online; if not, call the city or town’s tax collector directly to verify the fiscal year taxes due for a specific property before making an offer to purchase.

View FY18 Residential Tax Comparison by Tamela for a comparison of past and current (FY18) residential tax rates (including Residential Exemption where applicable) for Arlington, Belmont, Boston, Brookline, Cambridge, Medford and Somerville.

BUYER BEWARE:  Tax information provided in MLS Listings may not be accurate especially for listings on the market for an extended period of time.  MLS (Multiple Listing Service) does NOT verify information in a property listing; it is the Buyer’s responsibility to complete due diligence to verify the current residential tax information prior to making a purchase decision.  If applying for a mortgage to finance the home purchase, your lender also needs the most current (and reliable) residential tax information.

Note:  Residential Exemption applies only to homeowners who meet the qualifications.  Visit the official website for each city or town to find detailed information regarding the Residential Exemption qualifications and application process:

Need help?  Contact me today and I will be happy to assist or help you find a qualified tax professional.