FY21 Tax Rates: Residential $18.83 CIP $25.55

Published December 28, 2020 | Assessors Office | Automatically Archived on 2/1/2021

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Determination and Certification of FY 2021 Valuations:

Cities and towns in Massachusetts operate on a fiscal year basis. Fiscal years run from July 1st through June 30th. Property taxes for each fiscal year are assessed as of the January 1st prior to the start of the new fiscal year. Fiscal 2021 runs from July 1, 2020 through June 30, 2021, and the assessments for FY 2021 have an effective date of January 1, 2020.

The month of December signifies the half waypoint in the fiscal year. However, up until that time fiscal year property taxes and assessed values are based on estimates and considered preliminary.

The FY 2021 assessment model was configured using calendar year 2019 arm’s length sales data. Because assessments are based on historical data, they do not reflect current market conditions (unless of course the area has had stable market conditions for multiple years). In times of an increasing market we could expect to see assessed values below current market prices. The same holds true during a declining market. We could expect to see assessed values greater than the current market value.

The analysis and stratification of calendar year 2019 arms-length sales revealed that several sectors of our property inventory required some valuation adjustment.

Property Class Overall Value % Change
Single‐family 0.00%
Residential Condominiums 4.31%
2‐3 Family 0.00%
Multi‐family 2.31%
Commercial 7.47%
Industrial 6.21%
  • The FY 2021 assessed values will be reflected on the actual FY 2021 tax bills (issued on January 1, 2021). The tax rate for residential property is $18.83. The tax rate for commercial, industrial and personal property is $25.55.
  • Our assessing consultant is available to answer questions via email at: [email protected]
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