Exemptions

An exemption is a release from the obligation of having to pay taxes on all or part of a parcel of real property.

Personal
Personal exemptions are a reduction in taxes due to a particular personal circumstance and qualifications set forth in the Massachusetts general laws.

Residential
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. 

Cooperative Housing
The Cooperative Housing Residential Tax Exemption allows Cooperative Corporations organized under Chapter 157B of the Massachusetts General Laws to seek exemptions on behalf of shareholders who occupy their cooperative unit as their principal residence.

Statutory
In order for an organization to procure exemption from local property taxes, the entity must take steps to ensure its eligibility.