People are often surprised to learn that property taxes are lower on Nantucket than in many mainland communities. This is due to the seasonal economy in which non-resident taxpayers (those who own but do not live here all year-round) pay most of the property taxes on Nantucket (close to 82%). Additionally, Nantucket does not have to provide municipal services at the same level in the off-season as we do during the summer months when the island is most populated. Those of us who live here year-round directly benefit from this.
The Property Tax Rates for FY 2026 are:
Residential: $3.12 per $1,000
Open Space: $2.96 per $1,000
Commercial: $5.29 per $1,000
In addition, residents also benefit from a 25% year-round residential exemption which is $899,277 in 2026. Below is a chart showing the history of property tax rates on Nantucket.