Property taxes in Boston are an important consideration for homeowners. These taxes are based on the assessed value of the property and are used to fund local services such as schools, public safety, and infrastructure.
In Boston, property taxes are calculated using a residential tax rate, which is currently set at $10.56 per $1,000 of assessed value for the fiscal year 2021. For example, if a home is assessed at $500,000, the property tax would be $5,280 ($500,000 / $1,000 * $10.56).
It's essential for homeowners to understand the factors that can affect their property taxes, such as changes in the assessed value of their home, exemptions for certain groups like seniors or veterans, and potential tax abatements for eligible properties.
Homeowners in Boston should also be aware of the deadlines for property tax payments and any available tax relief programs. Staying informed about these aspects can help homeowners effectively manage their property tax obligations and take advantage of any available benefits.
For further information on property taxes in Boston, homeowners can refer to the official website of the City of Boston or consult with local tax assessors or financial advisors for personalized guidance.
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