The good news if you live in Massachusetts, is that the tax rate in your city or town probably fell faster last year than it has anytime in the past few years. The bad news: You’re probably still going to pay more in property taxes this year.
Last year, the median residential tax rate among the state’s 351 cities and towns fell by 7.1% to $13.58 per $1,000 of assessed value, its steepest decline since at least 2018. In 2021, it fell by 4.4%.
Yet most of the state’s homeowners are paying more in taxes. The median home value in the state rose by 10.1% to $465,144 in 2022, and the average annual tax bill went up 3.6% to $5,924.
The median commercial property tax rate, meanwhile, fell by 7.7% in 2022 to $15.48 per $1,000 in assessed value. That’s more than double the rate of decline in 2021, when it fell 3.7%.
See the slideshow above for the 20 communities in the state with the highest residential tax rates as of the beginning of 2022. Below are the 20 communities with the highest commercial tax rates — and below the slideshow is a database of all residential and commercial tax rates for 2023.
Subscribe to the Morning Edition or Afternoon Edition for the business news you need to know, all free.
© 2023 American City Business Journals. All rights reserved. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated January 24, 2023) and Privacy Policy (updated January 24, 2023). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.
- Latest
- Trending