
## Tax Rates by Town

When comparing Martha's Vineyard towns, tax rates vary widely. Lower tax rate towns often have higher property values, while higher tax rate towns may offer more year-round infrastructure, ferry access, and services.

<table class="divide-y">
<thead>
  <tr>
    <th>Town</th>
    <th>Tax Rate</th>
  </tr>
</thead>
<tbody>
  <tr>
    <td>
      <a href="/homes-for-sale/aquinnah">
        Aquinnah
      </a>
    </td>
    <td>$6.87</td>
  </tr>
  <tr>
    <td>
      <a href="/homes-for-sale/chilmark">
        Chilmark
      </a>
    </td>
    <td>$2.28</td>
  </tr>
  <tr>
    <td>
      <a href="/homes-for-sale/edgartown">
        Edgartown
      </a>
    </td>
    <td>$2.48</td>
  </tr>
  <tr>
    <td>
      <a href="/homes-for-sale/oak-bluffs">
        Oak Bluffs
      </a>
    </td>
    <td>$4.99</td>
  </tr>
  <tr>
    <td>
      <a href="/homes-for-sale/vineyard-haven">
        Vineyard Haven
      </a>
    </td>
    <td>$7.42</td>
  </tr>
  <tr>
    <td>
      <a href="/homes-for-sale/west-tisbury">
        West Tisbury
      </a>
    </td>
    <td>$5.21</td>
  </tr>
</tbody>
</table>

## What This Means For Buyers

- **Lowest tax rates**: Chilmark, Edgartown
- **Highest tax rates**: Vineyard Haven, Aquinnah
- **Year-round living**: Vineyard Haven, Oak Bluffs
- **Rural/privacy focus**: Chilmark, Aquinnah
- **Balanced**: West Tisbury

<div className="flex flex-row gap-3 justify-center">
  <InternalLink href="/towns" className="flex justify-center">
    <div>
      <Button>
        Properties for Sale by Town
      </Button>
    </div>
  </InternalLink>

  <InternalLink href="/homes-for-rent" className="flex justify-center">
    <div>
      <Button>
        Properties for Rent
      </Button>
    </div>
  </InternalLink>
</div>

## Getting to Your Vineyard Property

Most homeowners, renters, and contractors rely on the Steamship Authority ferry between Woods Hole and Vineyard Haven, with seasonal routes to Oak Bluffs.

Car reservations, freight transport, and summer scheduling can influence how often you use your property and how easily projects get done.

<a href="https://www.steamshipauthority.com/schedules" target="_blank" rel="noopener noreferrer" className="text-center">
  View the current Steamship Authority ferry schedule
</a>

During peak summer months, vehicle reservations often book weeks in advance, and rates are higher than in the off-season. Buyers who expect frequent travel to and from the mainland may want to factor in ferry timing into their town search.

## Planning Beyond Taxes

When evaluating Martha's Vineyard real estate, buyers typically consider:

- Ferry access and travel frequency
- Contractor and delivery logistics
- Rental income potential
- Year-round vs. seasonal use
- Distance from ferry ports
- Town services and infrastructure

A lower tax rate town may have higher purchase price, while a higher tax rate town may offer easier year-round access.



## Significant changes are coming

Are you planning to buy a property in the next few months?

<Image src="/images/blogs/buyer-agent-changes-july-2024-anchor-realty.png" alt="Infographic - Buyer's Agent changes coming in July 2024" width={540} height={540} />

As you may have heard, the real estate industry is undergoing a shift in how commissions get paid in real estate transactions. This is expected to start in July 2024. Here's what we know, pending court approval:

<QuoteBlock
  sourceName="National Association of Realtors"
  sourceUrl="https://www.nar.realtor/newsroom/nar-reaches-agreement-to-resolve-nationwide-claims-brought-by-home-sellers"
  quote="NAR has agreed to enact a new rule that would require MLS participants working with buyers to enter into written agreements with their buyers. NAR continues, as it has done for years, to encourage its members to use buyer brokerage agreements that help consumers understand exactly what services and value will be provided, and for how much. These changes will go into effect in mid-July 2024."
/>

## What this means for YOU as a buyer

<ContextualAlert level="warning" title="Be aware!">You may be liable for paying a 2-3% commission.</ContextualAlert>
<sub>\*Martha’s Vineyard buyers pay a 2% [Land Bank](https://www.mvlandbank.com/transactions/frequently-asked-questions) fee on all transactions, except first time home buyers, which have a portion of the fee exempt if you own your home for 5 years.</sub>

With the upcoming changes, **entering into a real estate transaction necessitates an agreement** with your buyer's agent, and you may be liable for paying a real estate commission of 2-3% of the total sale.

The buyer's agency agreement will specify that the buyer's agent's compensation is to be negotiated at the time an offer is made.

<InternalLink href="/downloads/Seller Agreement to Compensate Cooperating Broker Addendum.pdf" download={true}>**Buyers will need to sign a buyer's agency agreement**</InternalLink> which indicates that compensation for the buyer's agent will be requested at the time the offer is made. However, if the seller refuses to compensate the buyer's agent, then you, as the buyer, might be liable for the agreed commission rate.

## How to prepare

Anchor Realty of Martha's Vineyard suggests that all potential and future buyers ACT NOW!

Listings that are on the market right now already have a buyer's agency commission built into the listing agreement. If you enter into a real estate agreement before the changes, go into effect you will be covered. After that you may be liable for the cost of having a buyer’s agent represent you.

## The importance of having a buyer's agent

Anchor Realty of Martha's Vineyard feels the role of a buyer's agent is extremely important, and we worry that Buyers will end up not being represented in the real estate transaction process. If you are buying a home through a Real Estate listing agent, then that Agent is working for the SELLER ONLY. Not you the Buyer.

A home is the largest purchase a person will make in their lifetime. Don’t make such an important decision without the aid of a professional real estate agent who will help you walk through all the steps of purchasing a home.

## Anchor Realty is here to answer questions

We're here to answer any questions you may have:

<InternalLink href="/contact-us" className="mt-12">
  <Button className="btn-primary">Contact Anchor Realty</Button>
</InternalLink>


Properties Articles

2026 Martha's Vineyard Tax Rates

2024 Real Estate: What Buyers Need to Know Before July

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Sales by town

2026 Martha's Vineyard Tax Rates

2024 Real Estate: What Buyers Need to Know Before July