Who in Quincy pays the most in taxes? Take a look at the top 10 (2024)

Peter BlandinoThe Patriot Ledger

QUINCY ‒ Utilities, office space and apartment complexes topped the list of Quincy's largest tax contributors during the fiscal year that began in July 2023 and ended June 30.

The city's total tax levy amounted to just under $290.9 million, of which about $220 million came from residential property, which includes large apartment buildings. The remaining came from commercial, industrial and personal property.

Under Quincy's split tax rate, residential property was taxed at $11.27 per $1,000 of assessed value, up from $11.13 in the previous fiscal year. Commercial, industrial and personal property was taxed at $22.45 per $1,000, up from $22.18. It was Quincy's first tax increase in 10 years.

Because some property is held through limited liability companies, it can be difficult to create a comprehensive list of their holdings. The following list represents minimum amounts.

See Braintree's top 10: Who made the list of Braintree's top 10 property taxpayers of 2024

1. National Grid, $9,200,203

National Grid paid more than $9.2 million in taxes to the city in fiscal 2024 under three business titles: Mass Electric, Boston Gas and New England Power Co. The utility company pays taxes to Quincy for electricity poles, the Field Street substation and other infrastructure.

2. Equity Residential, $3,670,293

The Chicago-based real estate investment trust owns four large apartment complexes in the city: Quarry Hills on Ricciuti Drive, Lincoln Heights on Centre Street, Cliff Walk on Willard Street and Rosecliff on Willard Street. Of these, Quarry Hills pays by far the largest bill, more than $1.62 million. The 269-unit complex sits on 28 acres and is assessed at $142.5 million.

3. FoxRock/Granite Telecommunications Inc., $3,559,227

FoxRock Properties, the real estate company owned by Granite Telecommunications CEO Rob Hale, just completed including two residential buildings, and plans a steakhouse across from the Quincy Center MBTA station.

The company plans to build a medical office building with retail space next to Generals Bridge. While the medical building, to be operated by Beth Israel Deaconess, will enjoy tax exemptions for 40 years, the attached retail buildings are expected to increase tax revenues.

Ashlar Park has opened three of four residential buildings at the site of the former Quincy Medical Center campus. Ashlar Park paid the largest single tax bill − almost $1.42 million − of FoxRock's many Quincy properties.

Hale's Granite Telecommunications owns two office buildings on Newport Avenue Extension and a third, which is scheduled to open in September, on Enterprise Drive next to State Street.

Tax break for Granite Telecom: Quincy grants multimillion-dollar tax break for billionaire Rob Hale's Granite Telecom

4. Peter O'Connell, $3,208,408

Peter O'Connell and associates, the developers behind much of Marina Bay and the city's tallest building, paid at least $3.2 million in taxes last fiscal year.

Taxes paid byQuarry Hills Associates for the Granite Links Golf Clubproperty were $879,041 for fiscal 2024, the largest single-ticket item on a lengthy list of tax bills paid by private entities or corporations owned by Peter O'Connell and his family. The golf clubpays Quincy a portion of its proceedsin lieu of rent on the land.

The Granite Place apartment complex racked up a $783,065 tax bill, followed by 500 Victory Road's $486,094 and $423,417 for the One Chestnut Place apartment complex downtown.

5. The Flatley Co., $3,016,181

The Flatley Co.’s Elevation apartments, a 492-unit development with more than 850 parking spaces, opened its first building in 2018. Elevation sits on top of the outcropping bounded by the Southeast Expressway, Crown Colony Drive and Marriott Drive, and is easily visible to anyone heading south on Burgin Parkway.

The six residential buildings − plus a pool, a pond and a clubhouse – sit on 20 acres. In total, the development is valued at $168.8 million.

The Flatley Co. also owns the commercial property at 2000 Crown Colony Drive and the surrounding 13 acres worth $41.6 million.

6. State Street Bank, $3,011,285

The largest development in Quincy after the completion of the three initial Red Line stations was State Street South, a massive, multibuilding office park for the financial services and bank holding company built on filled-in Montclair marshland. Proximity to the Red Line made the land morevaluable –the project was called a "Quincy metamorphosis" in a 1972 Patriot Ledger headline– and the buildings are still standing.

Two commercial buildings and a parking garage sit at the 43.6-acre 1776 Heritage Drive site, which was last valued at almost $133 million.

7. Corcoran family, $2,696,076

John M. Corcoran & Co. manages dozens of apartment complexes in the Boston area, including Munroe Place, Quincy Commons and Faxon Commons. The multiuse Munroe Place building sits next to city hall and is home to a Starbucks, T-Mobile and other businesses. Built in 2003, the high-rise is assessed at $57.9 million.

8. AvalonBay Communities, $2,368,114

The real estate investment trust based in Virginia owns the Avalon apartment complex perched high on Quarry Street. Sprawled across three parcels, the development paid just under $1.9 million in property taxes for fiscal 2024.

In 2023, the company bought a row of parcels off Centre Street at the site of the old A Monti Granite yard. In 2022, principal of Hingham-based Atlantic Development D.J. MacKinnon presented plans to build a seven-story, 345-unit apartment complex on the property. Construction teams have been seen preparing the ground as recently as last week.

9. Bozzuto (MBTA), $2,357,299

Technically, the MBTA owns the land stretching alongside North Quincy Station, on which stands The Abby, a mega-development with over 600 apartments and retail space including a Target, a bakery and a bank. Maryland-based Bozzuto co-owns the development, which it built with MacKinnon's Atlantic Development, and pays rent to the T. Home to Quincy's largest residential space in terms of number of units, The Abby was last valued at almost $150.5 million.

Lawsuit involving The Abby: Why North Quincy Station T parking garage isn't open. $3 million suit alleges 'defects'

10. Meriel Marina Bay, $2,014,917

The luxury apartment complex Meriel Marina Bay opened 352 units on Victory Road in 2017 − the last major development planned for the Marina Bay boardwalk. The two-building, five-story complex also has 20,000 square feet of retail space home to Break Rock Brewing, Marina Bay Market, the Reelhouse restaurant and Aria Salon and Spa.

Construction teams have worked on the exterior of the buildings in recent years after water penetrated the façades. A class-action lawsuit was filed in Dedham Superior Court by tenants who say their quality of life has been harmed by what they describe as extensive damage and intrusive repair work.

Peter Blandino covers Quincy for The Patriot Ledger. Contact him at pblandino@patriotledger.com.

Thanks to our subscribers, who help make this coverage possible.If you are not a subscriber, please consider supporting quality local journalism with a Patriot Ledger subscription.Here is our latest offer.

Who in Quincy pays the most in taxes? Take a look at the top 10 (2024)


Who in Quincy pays the most in taxes? Take a look at the top 10? ›

Take a look at the top 10. QUINCY ‒ Utilities, office space and apartment complexes topped the list of Quincy's largest tax contributors during the fiscal year that began in July 2023 and ended June 30.

How much is Quincy property tax? ›

Tax Rates
Fiscal YearResidential Tax RateCommercial Tax Rate
2024$11.27 / $1,000 of assessed value$22.45 / $1,000 of assessed value
2023$11.13 / $1,000 of assessed value$22.18 / $1,000 of assessed value
2022$11.98 / $1,000 of assessed value$23.86 / $1,000 of assessed value
2 more rows

What is the sales tax in Quincy MA? ›

The minimum combined 2024 sales tax rate for Quincy, Massachusetts is 6.25%. This is the total of state, county and city sales tax rates.

Who has the highest property taxes in Massachusetts? ›

The highest FY2023 residential tax rate is Longmeadow ($22.92) while the lowest FY2023 residential tax rate is Edgartown.

Who has the most expensive property tax? ›

Key takeaways on state property taxes in the US

New Jersey has the highest property tax rate at 2.47%, followed by Illinois, Connecticut, New Hampshire, and Vermont. There are 14 counties with an estimated median property tax above $10,000 across California, New York, New Jersey and Virginia.

What town has the highest tax rate in Massachusetts? ›

Longmeadow has topped the list since 2013, according to data from the Massachusetts Department of Revenue. Longmeadow's tax rate actually dropped from $24.64 between 2022 and 2023 after steadily increasing for several years before that.

What is Massachusetts highest sales tax rate? ›

Massachusetts Tax Rates, Collections, and Burdens

Massachusetts has a graduated state individual income tax, with rates ranging from 5.00 percent to 9.00 percent. Massachusetts has an 8 percent corporate income tax rate. Massachusetts also has a 6.25 percent state sales tax rate and does not have local sales taxes.

What is excise tax in Quincy Mass? ›

Motor vehicle excise tax bills are created from vehicle registration data collected and sent to the assessors by the Registry of Motor Vehicles (RMV); the City of Quincy does not generate the registry file. How is my excise tax bill calculated? Each motor vehicle is levied at a tax rate of $25 per $1,000 of value.

What is the tax rate in Quincy IL? ›

What is the sales tax rate in Quincy, Illinois? The minimum combined 2024 sales tax rate for Quincy, Illinois is 8%. This is the total of state, county and city sales tax rates. The Illinois sales tax rate is currently 6.25%.

How to calculate property tax in Massachusetts? ›

Tax rates in Massachusetts are determined by cities and towns. They are expressed in dollars per $1,000 of assessed value (often referred to as mill rates). For example, if your assessed value is $200,000 and your tax rate is 10, your total annual tax would be $2,000.

How much is the local property tax? ›

How much is the Local Property Tax?
Local Property Tax Valuation bands and basic rates for valuation period 2022–2025
Valuation band numberValuation band €LPT Charge basic rate €
10 – 200,00090
2200,001 – 262,500225
3262,501 – 350,000315
17 more rows

What is the property tax rate in East Boston? ›

The numbers. The residential rate is now $10.74 per $1,000 of value for residential property, down from $10.88 per $1,000 in 2022, and $24.68 for commercial and industrial, as opposed to $24.98 in 2022. That means that the owner of a $500,000 house pays $5,370 this year, not counting the city's homeowner exemption.

Top Articles
Latest Posts
Article information

Author: Allyn Kozey

Last Updated:

Views: 5605

Rating: 4.2 / 5 (63 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Allyn Kozey

Birthday: 1993-12-21

Address: Suite 454 40343 Larson Union, Port Melia, TX 16164

Phone: +2456904400762

Job: Investor Administrator

Hobby: Sketching, Puzzles, Pet, Mountaineering, Skydiving, Dowsing, Sports

Introduction: My name is Allyn Kozey, I am a outstanding, colorful, adventurous, encouraging, zealous, tender, helpful person who loves writing and wants to share my knowledge and understanding with you.