July Inventory shows welcome increase

There has been a sharp increase in the number of properties for sale in the last four months, but while this takes inventory of SFHs above the year ago level, it remains below that of 2020:

Single Family Homes

Housing Inventory


The number of Condos available has also jumped, but in this case still remains below year ago levels:


Marblehead Facts and Figures Weekly Update


How Marblehead’s 2022 Property Tax Rate is calculated

The formula for calculating the property tax is actually very simple: take the $ amount of the previous year’s Tax Levy, add 2.5% for Proposition 2 1/2, and also add any New Growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt. – to produce the total Tax Levy.

Here are the numbers for Fiscal Years 2021 and 2022, remembering that FY 2022 runs from July 2021 to June 2022. (more…)