Understanding Your Tax Bill

Lexington residents get real estate tax bills four times a year, and excise tax bills for other property (automobiles, trailers, boats, etc).

The Real Estate Tax Bill

Residential real estate tax bills are mailed quarterly. Residences are assessed at their fair marker value on Jan 1st, the fiscal year begins July 1st, and the tax rate is set by the Board of Selectmen in December of the same year.

• The first two real estate tax bills mailed in July and Oct represent preliminary estimates (since the tax rate is not known until December).
• The last two tax bills, mailed in Jan and April, are different in that they:
  • List the assessed value and the tax rate
  • Are computed so the total of the four tax bills equals the assessed value times the tax rate.

The tax bill includes a small Community Preservation Act surcharge, which right now is 3%.

The Excise Tax Bill

Excise tax bills are mailed once a year, in Spring. You will receive a separate tax stub from the Lexington office of the collector of taxes, although the tax rates are set by the state. For details, please refer to:

• FAQ for motor vehicle excise
• How the motor vehicle excise tax is computed