For fiscal year 2016, the residential tax rate in Cambridge, MA is $6.99 per $1,000 of assessed value.
The 2016 residential tax rate reflects a decrease from 2015 of 83 cents or 11%.
For fiscal year 2016, the residential exemption is $277,937. For more on the residential exemption, CLICK HERE for information from the city of Cambridge.
The full residential exemption reduces a homeowner's taxes by $1,942.78.
The residential exemption is for owners who reside in their Cambridge property and file a Massachusetts income tax return using that address. You are eligible for a residential exemption if you owned and occupied your property as your primary residence as of January 1, 2015. More than two-thirds of the residential property in Cambridge is owner-occupied.
The city of Cambridge has created a handy reference for how to read your Cambridge, MA tax bill. CLICK HERE to understand how to read your Cambridge property tax bill 2016.
If you are interested in buying or selling residential real estate in Cambridge or Somerville, I am here to help. I can be reached at 617-733-8937. I am a Harvard graduate, an Inman Square resident and a top broker in the city since 1999.