MILTON, Mass. — Ed Keohane bought his Milton house in 2019 and watched home values on his street explode. But Keohane admits he doesn’t know how much his property taxes have increased; he knows they’ve steadily gone up.
“To see in two years what’s happened to this street in terms of home prices, now you add increases in taxes, and it’s a tough pill to swallow,” Keohane said.
The average price for a single-family home in Massachusetts hit $750,000 in 2021, up by 10.5 percent from 2020, according to the Massachusetts Association of Realtors. But with higher property values come higher property taxes, and Secretary of the Commonwealth William Galvin warns some homeowners, especially those on fixed incomes, could be in for a rude awakening when the 2022 tax bill arrives.
“It is unfair. The fact of the matter is many people who have not moved from their home now find themselves with a significantly higher tax bill,” Galvin said.
The average tax bill this year for a single-family home in Massachusetts is $6,766, nearly $400 more than last year’s average bill, according to the Dept. of Tax Revenue. That’s the biggest year-to-year increase in two decades.
Galvin is recommending homeowners consider applying for a tax abatement, which is a reduction in your property taxes based on a reduction in your home assessment. Galvin said if someone thinks their property is overvalued, a reassessment could mean paying hundreds of dollars less in property taxes.
However, there isn’t much time. Galvin said the deadline for third-quarter property tax payments in most cities and towns is Feb. 1, which is also the last day to file for an abatement, he said.
“Your tax bill may be going up because there have been comparable sales in your neighborhood that have a higher value. Your house may not be worth as much as those other houses, only chance to have this checked out,” Galvin said. “We can’t promise your taxes will be reduced, but we do allow you to mark sure they’re accurate.”
Galvin said he’s most concerned for older residents who don’t have a mortgage but live on a fixed income and may be caught off guard by a higher tax bill.
“I particularly think of older homeowners who are not selling, who don’t have a mortgage, who have to pay the increase out of their pocket. It’s hard,” he said.
Galvin said homeowners should contact their local assessors’ offices to apply for tax abatements. Exemptions are available in many communities for elderly homeowners, the blind, and disabled veterans. Homeowners can find more information on the Secretary of the Commonwealth’s website or call the Citizen’s Information Service at 1-800-392-6090 for additional resources.
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