One More Reason To Live in Boston
The City of Boston wants you to own a house. Here's how.
The City of Boston actually provides a residential exemption for all owner occupants. So what does that mean?
It means if you buy a house in the City of Boston and you live in that house, the city will actually take off money from your yearly taxes to help you stay in and afford that house even more, it's money in your pocket, not the city's.
So how much do they actually take off? $3,153 from your yearly/annually taxes.
This ends up being about $263 per month that you are saving on taxes.
Why do they do this?
They want people to live in the city and the best way to do that, and the best way to grow your own wealth is through real estate, and it is through being able to build equity.
So if you were looking for a reason to buy a house, let this be another one, the City of Boston wants you to buy a house.
Until next time, stay tuned and stay focused.