Property taxes are on the rise in Massachusetts. Various municipalities around Massachusetts have started raising residential property tax. Take Needham, for one. Property taxes on single family homes will increase by around $340, reports The Boston Globe.
Wellesley isn't spared, either, with property taxes going up by approximately $247 on the median single family home. But that's not the only area of concern for homeowners.
With all the talk about the fiscal cliff, many are asking about the state of the mortgage deduction. That's a tax break available to homeowners whereby they can deduct their interest payments on their mortgage.