Nantucket Property Taxes – Always a Surprise!

People are often surprised that property taxes on Nantucket are not higher than they are. The reason is largely due to the fact that more than 80% of all properties are owned by non-resident taxpayers who do not use Town services on a year round basis. In addition, properties owned by non-year round residents tend to be those that are in locations that have higher assessed values. Other factors that impact assessed value are the size of the property, amenities (such as a pool), proximity to the water and condition. The fiscal year 2018 residential property tax rate is $3.53/$1,000 of assessed value. The rate for open space is $3.34/$1,000 and for commercial it is $5.97/$1,000 of assessed value.