The Peabody MA property tax rate for fiscal year 2026 is $9.47 per $1,000 of assessed value on residential property and $18.85 per $1,000 on commercial, industrial, and personal property.1City of Peabody. Assessors Office To estimate what you owe for the year, divide your assessed value by 1,000 and multiply by the rate that applies to your property. A home assessed at $450,000 owes roughly $4,262 ($450 × $9.47). A commercial parcel assessed at $1,000,000 owes $18,850. Your assessed value is meant to reflect what the property would have sold for on the open market as of the prior January 1, so a hot or cooling local market shows up in next year’s number.
Which Rate Applies to Your Property
Peabody uses a split-rate system, so the per-dollar burden depends on how the property is classified.1City of Peabody. Assessors Office
- Residential ($9.47 per $1,000) covers single-family homes, condominiums, and multi-family dwellings.
- Commercial, Industrial, and Personal Property ($18.85 per $1,000) covers business real estate, industrial facilities, and taxable business equipment.
Residential owners pay roughly half the per-dollar rate that businesses do because the City Council shifts a larger share of the total levy onto the commercial class each year.
When Property Tax Bills Are Due
Peabody bills quarterly, with four due dates spread across the fiscal year:2General Court of Massachusetts. Massachusetts General Laws Chapter 59 Section 57C
- Q1 preliminary: August 1
- Q2 preliminary: November 1
- Q3 actual: February 1
- Q4 actual: May 1
The August and November bills are preliminary and based on the prior year’s tax. Once the new rate is certified, the city mails actual bills, and the remaining balance is split across the February and May installments. If actual bills go out after December 31, the remaining balance shifts to May 1 or 30 days after mailing, whichever is later.2General Court of Massachusetts. Massachusetts General Laws Chapter 59 Section 57C
How to Pay
You can pay through the city’s online portal by electronic check at no cost, or by credit card with a processor convenience fee.3City of Peabody. Collector’s Office Mailed checks go to the Collector’s Office, and there is a secure drop box at City Hall. For a mailed payment, the postmark is what counts, so if you are near the deadline, ask the post office counter for a dated stamp rather than trusting a drop box.
What Happens If You Pay Late
Interest on an unpaid installment starts at 14 percent per year, and it runs retroactively to the date the bill was issued, not from the day after the due date.1City of Peabody. Assessors Office The rate is set by state statute and applies in every Massachusetts municipality.4General Court of Massachusetts. Massachusetts General Laws Chapter 59 Section 57
If a balance stays unpaid long enough, the city can start a tax taking, which places a lien on the property at the county registry of deeds. You must get at least 14 days’ notice first, and for residential property that notice has to be mailed, posted on the property, and published on the city’s website. Once the debt moves into tax title, interest drops to 8 percent simple, but the lien stays on the property and can lead to foreclosure if the balance is never resolved.5Mass.gov. Tax Lien Foreclosure Informational Outline A couple of missed quarters can turn into a title problem that follows you into any future sale or refinance.
Exemptions That Can Lower Your Bill
Massachusetts General Law Chapter 59, Section 5 provides property tax exemptions for seniors, disabled veterans, surviving spouses, and people who are legally blind.6General Court of Massachusetts. Massachusetts General Laws Chapter 59 Section 5 – Property; Exemptions Each clause has its own eligibility rules, and generally you can claim only one exemption per property per year.
Applications go through the Peabody Assessors’ Office, and documentation varies by clause. Seniors usually show proof of age, residency, and income and asset figures below the applicable limits. Veterans provide discharge papers establishing a qualifying service-connected disability. Surviving spouses supply a death certificate and proof of ownership. The qualifying date for age, ownership, and other factors is July 1 of the fiscal year.7Mass.gov. Massachusetts General Laws c.59 Section 5 – Property; Exemptions Reductions can run several hundred dollars depending on the clause, so it’s worth asking the Assessors’ Office which one fits your situation before assuming you don’t qualify.
If You Think Your Assessment Is Too High
If your assessed value looks higher than what the property would actually sell for, you can file State Tax Form 128, Application for Abatement of Real Property Tax, with the Board of Assessors.8Mass.gov. Property Tax Forms and Guides The deadline is the due date of your first actual tax bill, which in Peabody’s quarterly cycle is generally February 1.1City of Peabody. Assessors Office If actual bills are mailed after December 31, the deadline moves to May 1 or 30 days after mailing, whichever is later.9Mass.gov. Chapter 6 Property Tax Abatements Miss the window and you are locked in for the year.
The Board has three months to decide. If it doesn’t act in that period, your application is deemed denied, and you can appeal to the state Appellate Tax Board.10General Court of Massachusetts. Massachusetts General Laws Chapter 59 Section 64 Strong applications include recent comparable sales from your neighborhood, a professional appraisal, or documented physical conditions that cut value and aren’t reflected in the assessment. An argument that the tax simply feels high won’t move the needle. If the Board grants a reduction, you’ll usually see it as a credit on your final quarterly bill or as a refund check.