What is the property tax for a house around 1 -1.2 M in Boston Area?

Asked by chenjue, Brookline, MA Mon Jan 20, 2014

Help the community by answering this question:

+ web reference
Web reference:

Answers

9
Tara Wilstein, Agent, Boston, MA
Tue Jan 21, 2014
As others have mentioned, it will be based on a percentage of assessed value, but tax rates vary significant from town to town. Boston, for example, is significantly lower than Newton, a very close suburb. In Newton, you'd probably be looking at about $1200-$1300/month. In Boston, probably more like $800/month, depending on the property. Please let me know if I can help with any specific properties.
0 votes
Mario Pavli, Agent, Boston, MA
Tue Jan 21, 2014
All very good points made. It really varies town to town.

Do you have a specific property in mind that you are inquiring about?
0 votes
James Furlong, Agent, Brookline, MA
Tue Jan 21, 2014
All towns base their property taxes on $ per $1,000 of assessed value. Check the local towns websites to determine the applicable rate.
0 votes
Richard Shap…, , Framingham, MA
Tue Jan 21, 2014
It varies town to town. Also realize home values can differ from assessments. If I did a preapproval for someone purchasing in that range, I would estimate $1200/mo for taxes.
0 votes
Jonathon Cur…, Agent, Boston, MA
Mon Jan 20, 2014
Hi Chenjue,
Taxes in the Boston area get taxed $12.58 dollars per every $1,000 dollars the property is assessed for. Also take into consideration the owner occupancy tax exemption for property owners that use the home as their primary residence get a $1,763 tax break off the top of the tax amount. Some properties have this exemption already in place. If not the new owner could file ( at city hall ) for one the following Jan for the next yr. Since the taxes are based on the assessed values ( which is never reflective of market value...almost always lower ) A guess would be somewhere between 10-12K per yr not including the exemption. If you ever have more questions please let me know :)

Jonathon
781 258 7996
jcurley@charlesgaterealty.com
0 votes
Flag Mon Jan 20, 2014
Al Mckenzie, Agent, Boston, MA
Mon Jan 20, 2014
It depends on the zip code you reside in. You can go on that town's web site and see their tax rate.
0 votes
CH Naamad, Agent, Boston, MA
Mon Jan 20, 2014
Residential Tax in Boston is $13.14 per thousand of the assessed value of the property.
The assessed value is not the purchase price. The city of Boston assesses properties every year for tax purposes. Generally, a property's assessed value is often lower than its market value.
So, a property assessed at 1M, the residential tax is around $13,140. Furthermore, you get to receive a residential tax exemption (around $1700) if you decide to live in the property.
Please contact us if you need further assistance. Link is below.
0 votes
Greer Swiston, Agent, Newton, MA
Mon Jan 20, 2014
As Mr. Wolfson indicated, the property tax varies from community to community. Here is a link that may give you more specific answers http://www.city.waltham.ma.us/assessors-department/faq/what-…

Property taxes also differ between residential property versus commercial property and in some communities, there are owner occupant credits.

I hope that answers your question.
0 votes
Louis Wolfs…, Agent, Needham, MA
Mon Jan 20, 2014
the tax rate in Brookline is about 11.65 per 1,000
Newton, Needham and Wellesley are around the same.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more