Property tax rates and exemptions for first-time homebuyers in Framingham vary based on several factors, including the assessed value of the property and the specific exemption programs available. Here is some information to help you understand the property tax rates and exemptions in Framingham:

Property Tax Rates

The property tax rate in Framingham for fiscal year 2021 is $14.98 per $1,000 of assessed value. This means that if your property is assessed at $300,000, you would pay $4,494 in property taxes ($300,000 / 1,000 * $14.98).

Exemptions for First-Time Homebuyers

Framingham offers several exemptions for first-time homebuyers to help reduce their property tax burden. These exemptions are designed to provide financial relief to individuals or families purchasing their first home. Here are two common exemptions:

Residential Exemption

The residential exemption allows eligible homeowners to reduce the assessed value of their property by a certain amount. In Framingham, the residential exemption for fiscal year 2021 is $2,701. This means that if your property is assessed at $300,000 and you qualify for the residential exemption, the assessed value would be reduced to $297,299 ($300,000 - $2,701). As a result, your property tax liability would be lower.

First-Time Homebuyer Exemption

The first-time homebuyer exemption provides additional relief to eligible individuals or families purchasing their first home in Framingham. This exemption allows for a reduction in the assessed value of the property. The specific amount of the exemption may vary based on the assessed value and other factors.

It's important to note that these exemptions have certain eligibility requirements and application processes. It is recommended to consult with the Framingham Assessor's Office or visit their official website for the most up-to-date information on eligibility criteria and application procedures for these exemptions.

For more detailed and accurate information, you can visit the official website of the Framingham Assessor's Office or contact them directly at [insert contact details here].

Remember, property tax rates and exemptions can change over time, so it's always a good idea to verify the information with the relevant authorities.