Blog :: 03-2021

Reasons to Buy in Boston | The Residential Tax Exemption

 

 

It’s the most wonderful time of year! Tax season is in full swing. While you’re busy filing and figuring things out, here’s something to consider:

  • If you own and occupy a property as a primary resident in the City of Boston you may qualify for a residential tax exemption that could result in significant savings.
  • For FY 2021: the residential exemption saves qualified Boston homeowners $3,153.02 on their tax bill.
  • A residential exemption reduces your tax bill by excluding a portion of the value of the property from taxation.
  • How’s it calculated? The residential exemption is the dollar value that is exempt from taxation. For example: if the residential exemption value were $100,000, a home with an assessed value of $300,000 would be taxed on just $200,000 of value. This exemption value, when multiplied by the current residential tax rate, represents the dollar savings amount of the exemption.
  • Last December, the City of Boston set the FY 2021 residential tax rate at $10.67 per thousand in assessed value.

Boston Back Bay in Spring

 

For Example...

A buyer purchases a condo in Back Bay which will be her primary residence.

The City of Boston assessing department values the condo at $600,000. 

The tax bill is calculated as follows:

$10.67  tax rate per thousand

x 600                                          

$6,402  total tax bill 

Deduct the residential exemption of $3,153.02 and the effective annual tax bill will be only $3,248.98 

 

 

 

 

  • For current homeowners your 3rd quarter tax bill will show 2021 assessments, tax rates and residential exemptions.
  • Your primary residence is the address from which you file your state income tax return.
  • If you think you might may qualify for a residential exemption, please be aware that the application must be filed with the assessing department by April 1 2021.
  • Check out the additional requirements here

• • •

 

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Broad Street Boutique Realty is a real estate firm located in Boston, Massachusetts. We represent clients in the sale, purchase or lease of properties in Massachusetts and New Hampshire. Visit us at www.broadboutique.com 

Boston's Harborwalk: From Little Italy To The Edge Of The Sea

Christopher Columbus Park BostonWhether you've lived in Boston all your life, recently moved here or are stopping by for a visit, the iconic Harborwalk can offer a ton of fun all year round. 

 

Conceived of as a way to connect the public to the-then redeveloping Waterfront and Wharf District, three decades worth of innovation have resulted in the now extensive 43 mile long network of rich and diverse pathways winding through 8 neighborhoods. With so much to see and do while exploring, you'll be exposed to multiple examples of Boston's evolving over time --- from its humble origins as a colonial town to the dizzying heights of new horizons, waterways and the urban sprawl.

 

Up for a bite-sized adventure? 

If you were to start right at the Christopher Columbus Waterfront Park, one of the first nice little additions you'd notice besides the ship-shaped Marriott Hotel would be the famous trellis, known for its seasonal illuminations. Covered in fresh greenery, the trellis is a great photo opportunity day or night. Take in the scenery uniting the nearby North End with life by the water's edge

Harbor Towers Boston                                                                               The nearby boardwalk will connect you to Long Wharf , The Chart House (formerly John Hancock's Counting House) and a splendid sundial and flagpole. The duckhouse next to the marina is something of a local landmark with, you guessed it, plenty of cute feathered creatures mingling with the crowds. 

 

 

Rowes Wharf Boston

Central Wharf is where the New England Aquarium has been welcoming visitors young and old since 1969, with several harbor ferries and whale watch vessels ready to spirit you off to sea. You'll also pass by Rowes Wharf with its wide open arch beckoning the curious to summer concerts and views of the Northern avenue Bridge. The wharves helped to establish Boston as a booming maritime port for centuries, some named for their trading origins like India and Russia Wharf.

                   

Intercontinental Boston

 

Before walking across the elegant Evelyn Moakley Bridge, stop by the Independence Wharf Observation Deck. You'll be able to admire the industrial origins of the Fort Point Channel, [and as you enter the Seaport with its modern architecture and rapidly evolving skyscape you'll gain a sense of just how much Boston has expanded over the years.

 

 

Fan Pier is where you may feel closest to ocean vibes. Sunrises, sunsets, and so many ships of all shapes and sizes rise with the tide. Even a brief trip like this can offer locals, new arrivals and newcomers alike with a sense of appreciation and opportunities to make memories in one of the world's most amazing destinations.                                         Boston Seaport

Along the way on your bite-sized adventure you can check out some of Boston's iconic Waterfront residential real estate such as:

Boston Seaport 

 

 

 

 

Browse Boston Real Estate 

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Broad Street Boutique Realty is a real estate firm located in Boston, Massachusetts. We represent clients in the sale, purchase or lease of properties in Massachusetts and New Hampshire. Visit us at www.broadboutique.com 

 

Boston Neighborhood Scoop: Faneuil Hall

Faneuil Hall Boston

Faneuil Hall is known the world over for its marketplace filled with shops, restaurants, and entertainment - visitors and locals alike have been gathering here for well over two centuries.

One of the most interesting aspects of the actual building has been greeting people --- and at one time whole fleets of ships for centuries as a golden symbol of history, community and commerce.

 

 

The Grasshopper Weathervane.                                                                    

Faneuil Hall WeathervaneBuilt in 1742, the North End’s own Shem Drowne was responsible for its construction. Drowne was one of Boston’s most noted innovators at the time: operating as both a coppersmith as well as the city’s first tinsmith. His work with weathervanes, instruments used to show which way the wind is blowing, produced several pieces starting around 1716.

For example Drowne designed a weathervane for the Royal Governor’s House, another for The New Brick Church on Hanover Street (now perching on top of First Church in Cambridge and created the copper swallowtail banner for The Old North Church.

When it comes to our esteemed grasshopper however, gilded and glass-eyed, it weighs thirty eight pounds and is made of copper. It’s a rather clever reference to its cousin across the pond that adorns the Royal Exchange Building in London. Having seen its fair share of famous events, it’s also featured in (and is filled with) many interesting surprises – including the newspaper snippets, coins, and other articles of historical significance placed inside this makeshift time capsule.

 

Boston Earthquake 1755

In 1755 a earthquake struck Boston, damaging the grasshopper and severing one of its legs. It “reported” the details with quite a bit of journalistic flair:

 

To my brethren and fellow grasshoppers, Fell in ye year 1753 (1755) Nov. 13, early in ye morning by a great earthquake by my old Master above. Again, like to have met with Utter Ruin by Fire, by hopping Timely from my Public Station, came of the broken bones and much Bruised. Cured and Fixed. Old Master’s son Thomas Drowne June 28, 1768, and Though I will promise to Discharge my office, yet I shall vary as ye wind.

In 1976, the grasshopper experienced another shock when it was stolen – but was fortunately later recovered due to the detective work of Paul Carroll, who happened to be a direct descendant of Paul Revere.

Faneuil Hall Boston

Faneuil Hall BostonSo the next time you’re out and about around Faneuil Hall – sampling some clam chowder from Quincy Market, taking photos with the statue of Red Auerbach, or simply taking in the sights and sounds – make sure you look up and say hello to this jolly old fellow.

 

 

 

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Faneuil Hall is located in Downtown Boston and on the cusp of the  Financial District It is a quick walk to the Waterfront and North End Neighborhoods which are filled with great architecture and fascinating history. 

 

 

Browse Boston Real Estate 

LUXURY CONDOS  | LUXURY RENTALS | NEIGHBORHOODS

Broad Street Boutique Realty is a real estate firm located in Boston, Massachusetts. We represent clients in the sale, purchase or lease of properties in Massachusetts and New Hampshire. Visit us at www.broadboutique.com