Nantucket Property Tax Rates

2026 Nantucket Property Tax Rates

Quick Summary

Nantucket property tax is based on the assessed value of real estate and varies by property type, including residential, commercial, and land classifications. For FY 2026, residential properties are taxed at $3.12 per $1,000 of assessed value. Taxes are calculated annually and support essential town services across Nantucket. Homeowners can estimate their tax liability using a simple formula or the town’s official calculator. Understanding property tax rates is essential for budgeting and long-term real estate planning on the island.

Understanding Nantucket property taxes is an important part of owning real estate on the island. Whether you are buying, selling, or holding a home long-term, knowing how taxes are assessed helps you plan your annual costs and evaluate overall ownership expenses.

At Great Point Properties, we help clients understand the full financial picture of ownership, including how Nantucket property tax rates are applied across different property types.

What is Nantucket Property Tax?

Nantucket property tax is an annual tax charged by the Town of Nantucket based on the assessed value of real estate. These taxes help fund essential town services such as schools, public safety, infrastructure, and municipal operations.

Each property is assigned an assessed value, which is then multiplied by the applicable tax rate to determine the annual tax bill. Rates vary depending on whether the property is residential, commercial, or vacant land.

How Property Tax is Calculated in Nantucket

Property taxes in Nantucket are calculated using a simple formula:

Assessed Property Value × Tax Rate = Annual Property Tax

The Town of Nantucket sets different rates for different property classes. For Fiscal Year 2026 (based on market values as of January 1, 2025), the rates are:

• Residential: $3.12 per $1,000 of assessed value

• Commercial: $5.29 per $1,000 of assessed value

• Land: $2.96 per $1,000 of assessed value

For example, a residential home assessed at $2,000,000 would be taxed based on the residential rate of $3.12 per $1,000 of value.

These rates are updated annually as part of the town’s budget process.

How to Estimate Your Property Tax

Estimating your Nantucket property tax is straightforward once you know your property’s assessed value.

To estimate:

1. Find the assessed value of your property

2. Divide by 1,000

3. Multiply by the applicable tax rate

You can also use the Town of Nantucket’s official tax rate calculator for a more precise estimate.

Because assessed values and rates can change yearly, it is important to review updated figures when planning a purchase or evaluating long-term ownership costs.

FY 2026 Nantucket Property Tax Rates

For reference, the official FY 2026 rates are:

Residential: $3.12 per $1,000 of assessed value

Commercial: $5.29 per $1,000 of assessed value

Land: $2.96 per $1,000 of assessed value

Information courtesy of Rob Ranney, Nantucket Town Assessor

Why Nantucket Property Taxes Matter

Property taxes are a key part of long-term ownership costs in Nantucket. While rates are relatively stable compared to many luxury coastal markets, they still play an important role in budgeting and investment planning.

Understanding tax obligations early helps buyers evaluate affordability, compare properties, and make informed decisions before closing.

Need Help Understanding Your Nantucket Property Taxes?

If you have questions about Nantucket property tax, assessed values, or how taxes may impact your next purchase or sale on Nantucket, our team at Great Point Properties is here to help.

We can walk you through property-specific tax estimates, explain how rates affect different neighborhoods, and give you clear insight before you make a decision.

Reach out to us anytime, and we will make sure you feel confident about every step of owning property on Nantucket.

FAQs

1. How often are Nantucket property taxes billed?

Property taxes are billed annually by the Town of Nantucket.

2. Are Nantucket property taxes high compared to other areas?

Rates are moderate compared to many luxury coastal markets, but total taxes depend on property value.

3. Can I appeal my property tax assessment?

Yes, property owners may file an appeal if they believe their assessed value is inaccurate.

4. Do all properties pay the same tax rate?

No. Residential, commercial, and land properties each have different tax rates.

5. How do I pay my Nantucket property taxes?

Payments can be made directly through the Town of Nantucket’s online payment system.

You can calculate your tax rate using the Town of Nantucket's Tax Rate Calculator.

Click below to make a tax payment with the Town of Nantucket.