The Highest and Lowest Residential Tax Rates in Massachusetts

Alex Anninos is a Realtor and a partner with Atlantic Coast Homes in Salem, Massachusetts. A multi-award-winning real estate professional, Alex Anninos helps his clients buy and sell residential properties, guiding them through issues like sale agreements and taxes.

Massachusetts' residential property tax rates were down on average in 2020, according to The Patch. Drawing on data from the Department of Revenue’s Division of Local Services as of January 7, 2020, the publication found that the median residential tax rate for 344 communities evaluated was $15.27 per $1,000 of a property’s assessed value. In 2019, the median residential tax rate stood at $15.48 per $1,000 in value while in 2018, it was $15.10.

Of the 344 communities, the lowest residential tax rate was in Hancock with $2.78. It was followed by Chilmark ($2.86), Edgartown ($3.35), Nantucket ($3.45), and Chatham ($4.82). On the flip side, the towns with the highest residential tax rates were Longmeadow ($24.21), Shutesbury ($24.04), and Greenfield ($22.93). The residential tax rate in Boston was $10.56 and in Salem $14.45. 

Average Listing and Closing Times for Homes in Massachusetts

Alex Anninos studied business at Northeastern University in Boston. He has worked in the Massachusetts real estate industry since 2005. Now a partner with Salem’s Atlantic Coast Homes, Alex Anninos joined the firm in 2017 and has since established himself as one of the area’s top sales producers.

Estimating how long your home will be on the market after being listed for sale can be difficult, as countless factors influence the length of time it takes to sell a property. Reviewing sales data of homes sold in your area is one of the better ways of gaining insight into these matters.

In Massachusetts, homes spent an average of 64 days on the market in early 2020. This period of time begins with the home being listed and ends after the closing period. Average closing times, the period during which home inspections take place and ownership documents are reviewed and signed after a purchase has been agreed to, account for about 35 days. This information is important, as it does not include the time homeowners may need to spend on preparing the home to be listed, such as addressing property damage or staging the home for showings. Similarly, closing times can be extended if a property is in need of significant repairs.

It bears repeating that these are average times and can only be used to get a general idea of how long your home might be on the market. Location, quality of the property, asking price, and Realtor strategies are just a few factors that may increase or decrease the length of time it takes to receive an attractive offer. Homeowners are encouraged to discuss their financial goals and ideal timeline with a real estate professional at the beginning of the sales process.