Difference between revisions of "Local Politics:Issues:Understanding Your Tax Bill"

From lex-wiki
Jump to navigation Jump to search
(Development)
Line 2: Line 2:


=== The Real Estate Tax Bill ===
=== 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 are mailed in Jan and April, and list the tax rate and the assessed value that is being taxed.


=== The Excise Tax Bill ===
=== The Excise Tax Bill ===

Revision as of 23:50, 7 December 2013

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 are mailed in Jan and April, and list the tax rate and the assessed value that is being taxed.

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: