Property Taxes on Nantucket are Low!

Sconset Window with RosesPeople are often surprised to learn that property taxes are lower on Nantucket than in many other 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 at it’s most crowded.  Those of us who live here year-round directly benefit from this.

The Town has recently published the property tax rates for 2022.

Residential:  $3.74 per $1,000

Open Space:  $3.53 per $1,000

Commercial:  $6.40 per $1,000

In addition, locals also benefit from a year-round residential exemption which is $541,019 in 2022. This translates ito a savings on $2,023.41 on the property tax bill. Below is a chart showing the history of property tax rates on Nantucket.

Tax Rate History Chart

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