Did you know that many cities in the Boston area offer residential tax exemptions for people who occupy the home as a primary residence? You can save thousands by living in a town that offers this.


This means you pay less than the full amount on property taxes, somewhere between $2000 - $4000 depending on the town you live in. See the information below for more information about savings and eligibility



 

1. Cambridge

In Cambridge the current residential deduction amount is up to $2918.63 YEAR.

Apply for a Residential Exemption in Cambridge and get more information here

You must be a resident from January 1st in the preceding fiscal year and apply by June 1st of the current year.

 

2. BOSTON

In Boston the current residential deduction amount is up to $3,610 a year.

Apply for a Residential Exemption in Boston and get more information here

You must be a resident from January 1st in the preceding fiscal year and apply by April 1st of the current year.

 

3. Somerville

In Somerville the current standard deduction amount is up to $4053.64 a year.

Here is the instruction sheet for the Somerville Residential Exemption. More information can be found here (scroll down and click FY24 Tax Rates)

You must be a resident from January 1st in the preceding fiscal year and apply by April 1st of the current year.

 

4. Brookline

In Brookline the current residential deduction amount is up to $3267 a year.

Apply for a Residential Exemption in Brookline and get more information here

You must be a resident beginning on January 1st in the preceding fiscal year. New home owners are mailed information when they close and can use that to apply.

 

5. Watertown

In Watertown the current standard deduction amount is up to $3,244 a year.

The town mails applications to the residents. Get more information here

You must be a resident from January 1st in the preceding fiscal year and apply by April 1st of the current year.

 

6. Everett

In Everett the current standard deduction amount is up to $1964.39 a year.

Apply for a Residential Exemption in Everett and get more information here

You must be a resident from January 1st in the preceding fiscal year and apply by April 1st of the current year.

 

7. Malden

In Malden the current residential deduction amount is up to $2599 a year.

Find information here about the Residential Exemption in Malden and find a detailed powerpoint explanation here

You must be a resident from January 1st in the preceding fiscal year and apply by March 31st of the current year to receive the exemption.

 

8. Waltham

In Waltham the current standard deduction amount is up to $2,739 a year.

Apply for a Residential Exemption in Waltham and get more general information here

You must be a resident from January 1st in the preceding fiscal year and the town suggests applying by February.

 

If you have questions surrounding home ownership or anything related to the tax exemption or understanding home financing, I am here to help you with the entire home search process.