1. What Is A Revaluation?
A revaluation is an update of all assessments in the Town conducted under the direction of the Board of Assessors. The Board of Assessors are state-certified individuals whose duties are to discover, list, and value all real and personal property in the Town, in a uniform and equitable manner. The Board of Assessors are not involved in the collection of property taxes.
2. Why Is A Revaluation Necessary?
State law requires that all property in the Town be assessed within ten percent (10%) of market value, every three years. New state laws require an adjustment in value be made every year in order to stay current with the market trends.
3. Will All Property Values Change?
Most likely, yes. However, not all property values will change at the same rate. Market values will have increased more for some neighborhoods and property types than for others. Some have decreased in value, while others may have remained the same. One purpose of a revaluation is to make sure that the assessed values reflect the changes that have occured in property values.
4. Who Will Do The Revaluation?
The Board of Assessors, Principal Assessor, their staff, and/or qualified hired contractors will do the revaluation.
5. When Will the Next Revaluation Start?
The next revaluation will begin January 1, 2005 for FY2006.
6. Is It Necessary That You View The Inside of My Property?
The law requires that property be valued from an actual view or the best information available. We will be performing a data quality control study on our existing information. We will review your assessment based on the existing records and sales of properties similar to yours.
7. What If I Refuse To Let Assessment Personnel In My Property?
All Assessing staff have an identification card with their picture on it. Our telephone number is (508)-894-1212 if you need verification. To ensure accurate assessments, it is to your advantage to allow the Assessors inside your property when an inspection is required. (Building permits for new construction, additions, changes, etc:) By denying an inspection, you may lose some rights if you feel the need to appeal your assessment.
8. What Is Market Value?
State law requires that your property be assessed at market value. Market value is defined as the amount a typical, well-informed willing purchaser would pay a well-informed willing seller for a property. For a sale to be a market value (arm's length) sale, the seller and buyer must be unrelated, the seller must be willing (but not under pressure) to sell, the property must be on the market for a reasonable lenth of time, the payment must be in cash or its equivalent, and the financing must be typical for that type of property.
9. What If There Hasn't Been A Recent Arm's-Length Sale Of My Property?
The next best evidence is the arm's-length sales of reasonably comparable properties. These are properties similar to yours in location, age, style, condition, and other features that affect market value, such as fireplaces, central air conditioning, bathrooms and size of garage.
10. What If There Are No Reasonably Comparable Sales?
The Assessors will then consider all other factors that may affect the market value of your property. The cost to replace your building(s), less any depreciation, plus the value of the land could be used to estimate market value. For rental properties, the income and expenses could be considered.
11. I Have Recently Built My Home. Will The Actual Construction Costs Be Considered?
Construction cost is a historical figure that may or may not reflect the current market value of your property. It is only one element that will be considered.
12. What Will Happen To My Assessment If I Improve My Property?
Generally speaking, improvements that increase the market value of a property will increase the assessment. The following examples are typical items that may increase the assessed value:
Added rooms or garage |
Substantial modernization of kitchen or baths |
Central Air Conditioning |
Fireplaces |
Extensive Remodeling |
Added baths |
13. Will My Assessment Go Up If I Repair My Property?
Normal maintenance will help retain the market value of your property, but generally will not affect your assessment. The following examples are typical items that may not increase the assessed value of your property:
New roof |
Vinyl siding or new shingles |
Replace windows |
New ceilings or walls |
Adding or replacing gutters/downspouts |
Replace furnace |
Wiring modernization |
Lawns and Landscaping |
14. How Can My Assessment Change When I Haven't Done Anything To My Property?
General economic conditions such as interest rates, inflation rates, and changes in the tax laws will influence the value of real estate. As property values change in the marketplace, those changes must be relected on the assessment roll.
15. Will The Person Who Inspects My Property Be Able To Tell Me My New Assessment?
No. If a property inspection is necessary, we have to analyze all of the information gathered before placing a value on your property. We will then further review this information to ensure that your assessment corresponds fairly to the assessment of other similar properties.
16. Will I Be Notified If There Is A Change In My Assessment?
After the Department of Revenue reviews the new values, there will be a public review period. This will be advertised in the newspaper. Generally, the Board of Assessors makes the lists of the new values available at their office in the Town Hall and also at the Public Library.
17. What If, After The Bill Goes Out, I Disagree With The Assessment?
You will need to file an abatement application with the Assessing Department. The filing period starts when the notice of third payment (actual tax bill) is mailed at the end of December, and ends on the date that the tax bill is due for that quarter. (usually 30 days) The Board of Assessors has three months in which to act on your application, or to request an extension, if necessary. You will be notified of their decision on an approved Department of Revenue form.
18. What Evidence Do I Need To Present To The Board of Assessors?
State law puts the burden of proof on the property owner to show that the assessment is incorrect/over valued. Stating that the property taxes are too high is not relevant. You should establish what you think is your property's market value. The best evidence would be a recent sale price of your property. The next best evidence would be recent sales prices of properties that are similar to yours. The closer in similarity and proximity, the better the evidence. Another type of evidence would be a recent appraisal of your property.
19. How Will My Taxes Change As A Result Of The New Assessment?
Although the value of your property affects your share of taxes, the actual amount you pay is determined by the budget needs of the Town and Schools. These will decide what services will be provided in the coming year and how much will be needed to provide these services. Once this decision is made, a tax is adopted that will generate the needed tax dollars. The decision for setting the amount of the tax rate is made soley by the Board of Selectmen. Your property taxes are determined by taking the assessed value, divide by 1000 x Tax Rate.
Assessed Value/1000 x Tax Rate = Taxes.
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