Since 1983, the City of Boston has offered a residential exemption to homeowners that occupy their property as the principal residence.
Taxpayers who own and occupy their home can save on their tax bill by having a portion of their tax bill exempted from taxation. To qualify for the residential exemption, homeowners must own and occupy their home on January 1 preceding the start of the fiscal year.
The value of the exemption is subtracted from the total full valuation. The fiscal year residential exemption is 30% of the average value of all residential property in the City.