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Average tax rates across Massachusetts towns

Posted by Leslie Mann on Thu, Mar 27, 2014 @ 09:03 PM

Massachusetts property taxes 2014
Property tax rates have increased in many Boston-area communities. On average, single-family property tax bills have increased by $507 since 2011. The Massachusetts Department of Revenue recently created this handy chart above to show a high-level view of the average residential property tax bills across the state.

Many of the communities with the highest property tax rates are clustered in desirable towns close to Boston. Average tax bills for these communities include:

Carlisle ($12,732)

Concord ($12,249)

Dover ($13,245)

Lexington ($11,481)

Lincoln ($13,742)

Sherborn ($14,333)

Sudbury ($11,544)

Wayland ($10,974)

Wellesley ($12,469)

Weston ($17,832)

Interestingly, there are some in-demand Boston suburbs that offer an easy commute, high ranking public schools, and more, yet have lower tax rates than neighboring communities. Most notably, the average property tax bill in Needham is $8,416 and the average bill in Newton is $9,258. (Hint: There are also communities about 45-60 minutes west of the city where home prices and tax rates are also lower).

If you're curious about the annual property taxes on a home that you're considering buying in the Boston suburbs, follow the below calculation:

Home value/100,000 x tax rate = annual property tax bill

For example:

The tax rate in Needham is 11.3. If you're buying a home that's worth $500,00 in Needham, your annual property tax bill would be $5,650.00.

Have questions about buying a home in the Boston suburbs? Please drop me a line. We'd be glad to help!

 

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Topics: Wellesley real estate, Weston real estate, Massachusetts property taxes