To help o set costs for homeowners who live in Somerville, the City o ers exemp- tions and deferral programs for seniors, veterans, persons with disabilities, widows, and residents with nancial hardships, in addition to our Residential Exemption of 35% (the highest in the state!) See inside for details and how to apply by the 2017 deadline, April 3.
Late last fall, you should have received a newsletter from the City Assessor’s Of- ce which included information about homeowner exemptions on your prop- erty tax bills. We know there was a lot of information covered in that newsletter, so we would like to take this opportunity to remind you about speci c exemptions you may qualify for that can further reduce the amount you pay in property taxes to the City each year. We understand that some homeowners may need additional assis- tance beyond ResX, and therefore we o er additional deferral and exemption options, and we continue to work to make the process easier for homeowners to le for these exemptions.
Exemptions and Other Options to Reduce or Defer Taxes
Residential Exemption: e City o ers a residential property tax exemption to all homeowners who reside at their property in Somerville, regardless of income. As of FY 2017, the residential exemption is set at 35%, the highest in the State, allowing for a tax savings of $2,747. All residential taxpayers who owned and occupied a home in Somerville as your principal residence as of Jan. 1, 2016, may apply for the FY17 residential exemption.