While property tax rates across Massachusetts have steadily decreased since 2021, rising home values have led to higher tax bills for homeowners—particularly in affluent communities like Brookline.
According to recent data, the total assessed value of all single-family homes in Brookline has surpassed $11 billion, marking a significant increase in property valuations. The town’s median single-family home value has now reached $2.5 million, reflecting the continued demand for housing in the area.
Tax Bills on the Rise
Despite the downward trend in tax rates, the sharp rise in property values has outpaced tax rate reductions, resulting in higher tax bills for homeowners. In Brookline, the average annual property tax bill for a single-family home has climbed to $24,729, accounting for 19% of the town’s average income.
This trend contrasts with the years prior to 2021, when the median single-family tax bill in Massachusetts increased by less than 4% annually for more than a decade.
While declining tax rates provide some relief, the rising home assessments pose challenges for homeowners facing larger tax obligations. The trend underscores broader concerns about housing affordability and property taxation in high-value communities across Massachusetts.