Your property taxes are based on the assessed value of your real estate. For most tax payers this is their home and the assessed value has two components – the land and the building on it. Your assessment is determined by the town assessor every three years or when you complete a permitted building project, whichever comes first. The assessed value of your home should reflect its fair market value but may not be the same as the price you would choose to list it at when selling. The assessor must follow state law in determining the value of your home. The law requires that the valuation of comparable homes be similar. Although there is a property tax limitation in Massachusetts it is not a limitation on the increase in your individual taxes, it is a limitation on the total taxes collected. A major change in the assessed value of your property may result in an increase of more than 2.5% in your taxes. All homeowners have the right to appeal their assessment if they feel it is inaccurately determined.
You can find more information about assessments, the abatement process, tax relief and other information on the Assessors’ page on the town website here.
You can find your assessed value by looking up your tax bill here.