**Chatham Votes for 35% Tax Exemption – Cape Cod Trend Emerging**

Dear Cape Friends,

Stop the presses - Cape Cod hasn’t seen real estate taxes drop like this since Roosevelt was in office. And no, I don’t mean Franklin. I’m talking about the guy with the Big Stick - Teddy Roosevelt.

(But before we start - If you’re new to these weekly notes, here’s the scoop: I share what’s happening in Cape Cod real estate… and occasionally wander off into other fun or thought-provoking territory.)

Big news out of Chatham: the Select Board recently voted 4–1 to adopt a 35% Residential Tax Exemption for year-round residents starting FY 2027 (July 1, 2026). It’s one of the most significant local tax shifts we’ve seen in years - and other towns are beginning to follow suit.

What’s Changing

Think of it as a new Cape Cod “tax tide” - like the new(er) cut reshaping the channel out at North Beach.

• Year-round homes get up to 35% of the average town value shaved off their taxable value.
• The tax rate goes up slightly so towns collect the same revenue, meaning seasonal and second homes pick up a bit more of the tab.

Who's in on it:

• Chatham just passed it.
• Provincetown, Truro, and Wellfleet already have it.
• Eastham is joining in, and Orleans is considering it.

Why Towns Are Doing This

Rising home values and tax bills are squeezing locals. By shifting a bit of the burden to seasonal homes, towns hope to keep year-round residents here, schools full, and Main Streets lively in February - And for those of you thinking about retiring and moving here full-time, this is essentially a welcome gift - your future tax bill just got friendlier.

What It Means for You

• Year-Round Residents: Likely to see real savings - enough to buy a few more lobster rolls at the Chatham Fish Pier
• Seasonal Owners: Expect slightly higher bills as rates adjust - but you’ll still enjoy the best seat at the bar at The Squire (or as my kids say, The Squid)
• Buyers & Sellers: This could make primary residences more attractive and shift demand.

What To Watch

1. Annual Votes: Towns must renew the exemption each year.
2. Different Levels: Each town sets its own percentage (up to 35%).
3. Ripple Effects: These changes could subtly reshape the market over time.

(Oh, and if you want to dive deeper: please check out my personal website - PAULBORDE.COM - for neighborhood insights, market updates, and -if I may say so- all my Pulitzer Prize level past newsletters.)

If you’d like me to run a quick “what-if” for your property (or one you’ve got your eye on), just let me know - I’m happy to do the math

As always, in case you are around Friday morning, swing by Chatham Perk - I’ll be there, still insisting they pour the very BEST coffee in Chatham.