Massachusetts— Property Tax & Closing Costs
2024 Census dataEffective tax rate
0.66%
of assessed value annually
Median home value
$705,800
2024 ACS survey
Median taxes paid
$4,649/yr
2024 data
Suffolk County's 0.66% effective property tax rate falls in the middle 50% of US counties — close to the national median of 0.81%. Within Massachusetts's 14 counties, it's the 3rd lowest. On the county's median home value of $705,800, the typical homeowner pays $4,649 annually in property tax — $3,020 more than the national median of $1,629. At closing, Massachusetts's 0.46% combined real estate transfer tax adds roughly $3,218 on a median-priced home, typically paid by the seller. FEMA data shows 32.9% of Suffolk County's land area falls within a Special Flood Hazard Area — a very high exposure level. Flood insurance is required for federally-backed mortgages in those zones and commonly adds $800–$3,000 per year.
Calculate your true cost
Enter any purchase price to see the full cost breakdown for Suffolk County.
County median: $705,800
Leave at $0 if the property has no homeowners association.
LTV: 80.00%
At closing
Monthly ongoing
Year one
Very high flood risk — over 30% of this county lies in a FEMA flood zone. Flood insurance is required for any federally-backed mortgage in the SFHA. Check your property at msc.fema.gov.
All figures are estimates for planning purposes only. Mortgage payment assumes a 30-year fixed rate of 6.8% — your lender will confirm the actual rate. Closing costs vary by lender and transaction. Consult a licensed real estate attorney and lender before making any financial decisions.
Massachusetts property tax exemptions
Ways buyers in Suffolk County may reduce their annual property tax. These programs apply statewide; verify county specifics with your local assessor.
Proposition 2 1/2
Caps total municipal property tax levy at 2.5% of aggregate assessed value; annual levy growth limited to 2.5% plus new-growth additions. Override requires voter approval.
View official source →Residential Exemption (local option)
Cities that adopt it (Boston, Cambridge, Somerville, Brookline, Waltham, etc.) may exempt up to 35% of average residential assessed value for owner-occupied primary residences. Boston's exemption is approximately $354,974 of assessed value for FY2026.
View official source →Senior Exemption (Clause 41C)
Exemption for homeowners 65+ meeting ownership, residency, income, and asset limits. Clause 41A tax-deferral option also available.
View official source →Veterans Exemption (Clauses 22-22H)
Exemptions of $400-$1,500 for qualifying veterans and spouses. Full property tax exemption (Clause 22E) for veterans rated 100% service-connected disabled (paraplegic) or surviving spouses.
View official source →Last verified 2026-04. Exemption amounts and eligibility change frequently — always confirm with your county assessor before claiming.
Frequently asked questions
Answers to common questions about buying a home in Suffolk County.
The effective property tax rate in Suffolk County is 0.66% — calculated as the median annual property tax paid ($4,649) divided by the median home value ($705,800), using 2024 US Census ACS 5-year estimates. Your actual bill depends on your purchase price, homestead or senior exemptions, and any special assessments applied in your taxing district.
Massachusetts's combined real estate transfer tax is approximately 0.46% of the purchase price. On the median Suffolk County home value of $705,800, this adds roughly $3,218 at closing. Deeds Excise is $4.56/$1,000 (0.456%) statewide, seller-paid. Barnstable County (Cape Cod) is higher: $6.48/$1,000 (0.648%). Nantucket and Martha's Vineyard add a 2% Land Bank Fee, buyer-paid. Some municipalities (e.g., Boston) have enacted or proposed additional transfer fees.
Yes, substantially. FEMA National Risk Index data shows 32.9% of Suffolk County's land area falls within a Special Flood Hazard Area (SFHA). Flood insurance is required for any federally-backed mortgage on a property inside an SFHA and commonly adds $800–$3,000 per year. Check your specific property's flood zone at msc.fema.gov before buying.
Closing costs for a buyer in Suffolk County typically run $14,116–$35,290 (2–5% of purchase price) on a median-priced home, including title insurance ($800–$2,000), appraisal ($400–$700), home inspection ($350–$600), recording fees ($100–$300), and loan origination (0.5–1.0% of the loan amount). Use the calculator above for a specific estimate at your purchase price.
Data sources for Suffolk County
Every figure on this page is traceable. Verify the numbers yourself against the original public data.
Source for the 0.66% effective property tax rate, median home value, and median taxes paid (ACS 5-year, 2024 vintage).
Source for county-level flood zone exposure, wildfire risk, and other natural hazard ratings. Updated quarterly by FEMA.
Look up a specific property's flood zone and insurance rate map before making an offer on a home in Suffolk County.
Guides for Massachusetts home buyers
What every buyer should read before making an offer.
HOA Documents
HOA lawsuits — how to check for pending litigation against your future HOA before you close
A buyer closed on a house and only then found out about ongoing HOA lawsuits. Six checks you can run yourself before your contingencies expire.
Read the guide →HOA Documents
Undisclosed HOA special assessment — what you can do if you find out after closing
HOA special assessment not on the disclosure? One buyer got a $15,000 bill the day after closing. How to catch it before — and what to do after.
Read the guide →