2014 proposed North Shore property tax rates
Individual towns and cities in Massachusetts propose a tax rate each year and then the State has to approve that rate. There is occasionally a minor difference – as in a penny or so – in the rate approved. My table shows the rates proposed – and in some cases approved – for FY’14. This is the rate that applies for the entire year to June 30, 2014 so the February and May tax bills will be adjusted for any changes occurring from the new rate.
As of December 13, 254 of the State’s 353 communities have had their FY14 tax rate approved. The highest residential rate I have been able to find is Longmeadow at $23.15 and the lowest Hancock at just $2.83. The highest commercial rate approved is $39.04 in Springfield, with Hancock again the low at $2.83.
Here on the North Shore Wenham has overtaken Swampscott for the highest residential rate in the 17 communities I track, while Lynn has pipped Swampscott for the highest commercial rate.
Sources: MA Department of Revenue; Assessors Offices
If you are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 781.631.1223 or [email protected].
Andrew Oliver is a Realtor with Harborside Realty in Marblehead.
This is incredibly helpful. I always show my new buyers a comparison chart of the towns on the North Shore and their tax rates. Having this chart before I usually compile it in early January is invaluable. Thank you and this is a key point of information for every buyer particularly if viewed in relation to town services offered for each taxed rate dollar. It can really help a buyer to focus on which town is best for his/her home purchase. Great job, Andrew.
Lynne