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Residential Tax Exemption - What it means and where it applies in Massachusetts

There are 16 communities in Massachusetts, several in Greater Boston, that offer a significant reduction (up to 35%) in the real estate taxes for residential home buyers who decide to live in their new homes. Specifically designed to encourage home ownership and not just investment in a community, Barnstable, Boston, Brookline, Cambridge, Chelsea, Everett, Malden, Nantucket, Provincetown, Somerset, Somerville, Tisbury, Truro, Waltham, Watertown and Wellfleet all offer discounts of at least 10% (most 20%-35%) from the “actual” real estate taxes. These savings can make a substantial difference in a monthly mortgage payment.

While these exemptions are not transferable, they are easy to apply for and receive when you buy a property in these 16 communities. So when you are considering a property that you plan to occupy in Boston, Brookline, Cambridge, Somerville, Watertown etc. ask your real estate agent about the savings and what you need to do to qualify.

The link below provides additional information on this money-saving real estate program.


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