Why does my newly released assessed value not reflect the value of my house today?
On a yearly basis, all communities in the Commonwealth of Massachusetts must adjust and respond to the sales data from the previous year. The Department of Revenue requires that a full year of sales data be analyzed. With valuation approval required by December of each year, sales from the previous year are required. Therefore, an assessed value is a historical value and not a current market value.
What if I disagree with the assessed valuation of my home?
Every taxpayer has the right to file an application for abatement on the value of their house. An application for abatement is a request for the office to review the value of a property. The taxpayer must file this application between the date when the bills are first mailed, sometime in late December, and the date of the first actual tax bill, February 1st. The Assessor’s Office will fully inspect your property and then review the value which was committed. If the property is determined to be overvalued, a refund will be issued to the taxpayer. The office has up to 90 days to act on your application.
If I do not agree with my assessed value and have filed for abatement, do I have to pay my tax bill?
Yes, in order to successfully appeal your assessed valuation, you must pay all your bills on time without accruing interest. An abatement application can be denied if any interest has been accrued on a tax bill.