Property Taxes On Housing You Own (with a bank, of course) & Live In

[unhappycamper]

I've been getting my property tax statements from the City of Boston since I bought a condo in 1988. The statement I received in January had a sheet titled "Property Tax Information". Normally I just glance at it and toss it in my recycling bin. For some reason I actually read the damn thing.

There is a section on the sheet titled "Residential & Personal Exemptions May Lower Your Tax Bill". I read it and was interested enough to flip the sheet over and read the smaller print. I found a numbah to call: 617-635-4287.

A very nice lady answered and I explained I would like to see if I qualified for a Residential or Personal Exemption on my condo. We chatted for about two minutes and she was amazed that I have lived in this condo since 1988 and have never applied for an exemption. She said she would send me a form (very easy to complete). The form arrived in four or five days; I filled it out and sent it back.

Yesterday I received an:

Abatement Certificate

and

a refund check from the City of Boston for $484.32


FAQ from the City of Boston:

https://www.cityofboston.gov/assessing/FAQ.asp

Residential Exemption

Since 1983, the City of Boston has offered a residential exemption to homeowners that occupy their property as the principal residence.

Taxpayers who own and occupy their home can save on their tax bill by having a portion of their tax bill exempted from taxation. To qualify for the residential exemption, homeowners must own and occupy their home on January 1 preceding the start of the fiscal year.

The value of the exemption is subtracted from the total full valuation. The fiscal year residential exemption is 30% of the average value of all residential property in the City.

--

Bottom line? Sometime it pays to read the tax stuff we get in this state. Dunno if this applies to the rest of MA.

Wicked awesome, eh?

[Beachwood]

1. As far as I know, this is Boston or for a few cities only

Because of the comparatively higher cost of housing in Boston, and Boston wants to encourage owners to live in the homes they own, (thus not own and rent them out).

There may be other larger cities with this kind of exemption, but I am not aware of them.

There are ways in some towns for owners to get a small abatement when the unit is owner occupied by older people (65+?)

[Sunlei]

2. good to let people know. The residential exemption on my home in Texas didn't need to be applied for

Though I wish the "no more taxes persons" would focus on local taxes instead of Federal taxes. Low income persons already have Federal tax breaks or don't pay Federal tax if they make no income.

Everyone has to pay property tax forever or you will lose your home.

[SheilaT]

3. Reading the fine print on

almost everything can be useful.

Nice to know that you're now saving some money.