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Mansions for Sale in Massachusetts
Average Mansion and Luxury Home Prices
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Nantucket |
Nantucket |
MA |
1,650,000 |
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Chilmark |
Dukes |
MA |
1,370,000 |
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Dartmouth |
Bristol |
MA |
1,255,000 |
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Weston |
Middlesex |
MA |
1,122,900 |
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Wellesley Hills |
Norfolk |
MA |
1,075,000 |
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Waban |
Middlesex |
MA |
967,500 |
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Dover |
Norfolk |
MA |
900,700 |
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Cambridge |
Middlesex |
MA |
850,000 |
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Wellesley |
Norfolk |
MA |
827,500 |
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Lincoln |
Middlesex |
MA |
816,500 |
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Newton Center |
Middlesex |
MA |
778,889 |
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Carlisle |
Middlesex |
MA |
760,000 |
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Boston |
Suffolk |
MA |
736,500 |
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West Tisbury |
Dukes |
MA |
735,000 |
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North Chatham |
Barnstable |
MA |
730,000 |
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Boston |
Suffolk |
MA |
712,450 |
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Sherborn |
Middlesex |
MA |
708,750 |
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Lexington |
Middlesex |
MA |
690,000 |
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General
The Commonwealth of Massachusetts is located in the New England region of the northeastern United States. It borders Rhode Island, Connecticut, New York, Vermont, and New Hampshire. To the east, it borders the Atlantic Ocean. Most of its population of 6.4 million live in the Boston metropolitan area. The eastern half of the state is made up of urban, suburban, and rural areas, while Western Massachusetts is mostly rural. Massachusetts is the most populous of the six New England states. It ranks third among U.S. states in GDP per capita.
Economy
The United States Bureau of Economic Analysis estimates that Massachusetts's gross state product in 2007 was US $351 billion. The Per capita personal income in 2006 was $47,702, making it the 4th highest in the nation. Gross state product increased 2.6% from 2004 to 2005, below the national average of 3.5%.
Taxes
Massachusetts has a flat-rate personal income tax of 5.3%, with an exemption for income below a threshold that varies from year to year. The state imposes a 5% sales tax on retail sales of tangible personal property?except for groceries, clothing, and periodicals?in Massachusetts by any vendor. The 5% sales tax is charged on clothing that costs more than $175.00. Only the amount over $175.00 is taxed. All real and tangible personal property located within the Commonwealth of Massachusetts is taxable unless specifically exempted by statute.
The administration of the assessment and collection of all real and tangible personal property taxes in the Commonwealth of Massachusetts is handled by the city and town assessor and collected in the jurisdiction where the property is located. Massachusetts imposes a tax on any gains from the sale or exchange of capital assets held for more than one year. The state also collects a 12% tax on the sale or exchange of capital assets held for one year or less (short-term capital gains). Interest from non-Massachusetts banks is no longer taxed at 12%, but the first $100 of interest from Massachusetts banks is tax exempt from even the 5.3% tax. There is no inheritance tax and limited Massachusetts estate tax related to federal estate tax collection.
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