Centers And Squares
Welcome to Centers and Squares
As a Cambridge real estate agent, the city squares of Cambridge, Somerville and Medford and the town centers of Arlington, Watertown and Belmont, Massachusetts are my home turf. And as a lifelong New Englander who’s lived within twenty miles of Boston most of my life, I can introduce you to other nearby towns as we search for your new home. If you’re planning to sell your home in Cambridge, MA or nearby you’ll find plenty of info about the home selling process here too. Questions? Send me an email or call me at 617-504-1737.
Cut Your Property Taxes in Cambridge, Somerville and Watertown – the Residential Exemption
I’m dismayed every time I find out that a homeowner – who’s usually a home seller at that point – hasn’t received the residential exemption that he or she was qualified to receive. If you’ve failed to apply for the exemption by the deadline you are not able to get that money back – no matter how many years you missed out. It’s a lot of money to let slip away.
What’s the Value of the Residential Exemption?
For Cambridge homeowners who qualify for the 2010 residential exemption, $198,423 is deducted from the property assessment. This amounts to a reduction in the 2010 tax bill of $1,531.83.
Here’s more information about the residential exemption in Cambridge.
For Watertown residents, for the 2009 tax year, the 2009 residential exemption reduces the assessed value of the homeowner’s property by $88,733, which translates to a savings of $1,086 for qualifying Watertown homeowners. The value of the exemption in 2008 was $1,063.
The Somerville residential exemption for 2010 reduces the assessed value of a qualifying homeowner’s residence by $138,011 resulting in a tax savings of $1,697.54. The application form for the exemption is online and questions should be directed to the Assessor’s office at 617-625-6600 ext. 3100.
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