What is the Boston Real Estate Tax?

As of the latest information available, Boston real estate taxes are calculated based on the assessed value of the property and the current tax rate set by the city. For residential properties, the fiscal year 2024 tax rate in Boston is $10.90 per $1,000 of assessed value.

Here's a simple example to illustrate how the tax is calculated:

  1. Determine the assessed value of your property: Suppose your home's assessed value is $500,000.

  2. Apply the residential tax rate:

    • $500,000 / 1,000 = 500

    • 500 x $10.90 = $5,450

Therefore, for a property assessed at $500,000, the annual real estate tax would be $5,450.

It's important to note that these rates can change annually, and homeowners may be eligible for various exemptions and abatements that could reduce their tax burden. For the most accurate and up-to-date information, it's advisable to check with the City of Boston's Assessing Department or visit their official website.

Kevin Woo