Condo conversions and property taxes
WHEN A PROPERTY IS CONVERTED INTO CONDOS
There may be a time before each unit owner gets an individual tax bill. However, each unit owner is responsible for a share of the total property tax bill. To find the amount each owner has to pay, multiply the condo unit owner’s percentage of interest in the common area by the bill amount.
Here’s an example of how you might share a property tax bill:
A five-unit building converts to condos on August 30, 2016.
The building gets a quarterly property tax bill in November 2016 for $2,500.
The Master Deed for the building lists out the common area percentages for the condo units. The tax bill for each unit could be:
A five-unit building converts to condos on August 30, 2016.
The building gets a quarterly property tax bill in November 2016 for $2,500.
The Master Deed for the building lists out the common area percentages for the condo units.
https://www.boston.gov/departments/assessing/condo-conversions-and-tax-bills
How to Lower Your Property Tax
https://www.bostonreb.com/childless-homeowners-to-those-with-kids-property-tax-moochers/
Updated: 9/30/17
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