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What Does it Cost to Live in Massachusetts?

Posted by Leslie Mann on Fri, Mar 25, 2011 @ 06:40 PM

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People relocating to the Boston area often ask what it costs to live here. I thought I’d share what typical taxes are for Massachusetts residents.

Excise tax. Towns charge $25 per one thousand dollars of a car’s value for excise tax. (The value is considered list price in its year of manufacture.)

Sales tax. Massachusetts has a 6.25% sales tax on purchases except for food; water, gas, or electric service; clothing; shoes, and prescription drugs and certain medical devices.

Income taxes. Massachusetts has an income tax rate of 5.3 percent.

Real estate taxes. Here’s a quick snapshot of residential real estate tax rates across Greater Boston metrowest communities. To calculate the taxes on a particular home, take the home value, divide by 1,000 and multiply by the tax rate below.

For easy math, if a home is assessed at $500,000 and the tax rate is 11%, the annual taxes would be $5,500.

Here's a snapshot of real estate taxes in Boston suburbs, listed by town:

Acton, MA tax rate 19.1

Ashland MA tax rate 17.4

Berlin MA tax rate 15.38

Bolton MA tax rate 20.96

Brookline MA tax rate 11.65

Carlisle MA tax rate 17.68

Concord MA tax rate 14.07

Dover MA tax rate 12.80

Framingham MA tax rate 17.84

Holliston MA tax rate 18.62

Hopkinton MA tax rate 17.32

Lexington MA tax rate 15.20

Lincoln MA tax rate 14.23

Medfield MA tax rate 15.73

Medway MA tax rate 18.56

Millis MA tax rate 16.34

Natick MA tax rate 14.34

Needham MA tax rate 11.30

Newton MA tax rate 11.49

Northborough MA tax rate 16.11

Sherborn MA tax rate 19.72

Southborough MA tax rate 16.54

Stow MA tax rate 18.37

Sudbury MA tax rate 17.99

Wayland MA tax rate 17.89

Wellesley MA tax rate 11.70

Westborough MA tax rate 18.97

Weston MA tax rate 12.40

*2013

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Topics: Boston relocation, Boston suburbs