Residential Exemption in MA

03/22/23  |  Liz and Ellie Local

How much could you save in property taxes with the residential exemption?

If you are the owner and occupant of a property in the Greater Boston area, you may be eligible to receive a deduction in your real estate taxes. This deduction is not automatic: you will need to go to your city’s Assessor’s office or download the appropriate form to apply for the exemption. In many cities and towns, the application for Residential Tax Exemption must be filled out and submitted within three months of receiving your tax bill. Go to your city’s website for more detailed information.
How much could you save in property taxes with the residential exemption?
To figure out what your property taxes could be, take the assessed value of your home and divide it by 1000. Then multiply that number by the residential tax rate in your city/town. Finally, if applicable, subtract the residential exemption tax from this number to get your tax rate. We’ve compiled a list of cities and towns in the Greater Boston area where we help people buy and sell a lot of homes; you’ll notice that some municipalities have residential exemptions and some don’t. When you’re looking to buy in a certain area, it may help to use our chart to get a general idea of what your property taxes will be.
Of course, your property taxes are only part of what will make a house the perfect home for you. Contact us, and we'll put whatever number you come up with into perspective.
Fiscal Year 2023
Residential Tax Rates and Exemptions
(Per $1000 of Assessed Value of Home)
Municipality Tax Rate Res. Ex. Tax
Arlington $11.21 No exemption offered
Belmont $11.24 No exemption offered
Boston $10.74 Exemption offered
Brookline $9.97 Exemption offered
Cambridge $5.86 Exemption offered
Lexington $13.00 No exemption offered
Malden $12.19 Exemption offered
Medford $8.65 No exemption offered
Melrose $10.42 No exemption offered
Newton $10.18 No exemption offered
Somerville $10.34 Exemption offered
Waltham $10.32 Exemption offered
Watertown $13.58 Exemption offered

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With their complementary communication styles, responsiveness, competence, and ability to truly listen, Ellie and Liz enable their clients to feel at ease throughout any real estate transaction. They would welcome the opportunity to be your next real estate advisors.

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