Public Disclosure of Proposed Fiscal Year 2024 Valuations
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Town of Sudbury Board of Assessors
Public Disclosure of Proposed Fiscal Year 2024 Valuations
State law requires assessors to estimate the fair market of all properties within their jurisdiction. With this mandate comes the requirement that assessors conduct annual revaluations. Revaluations not only respond to the ever-changing real estate market but are opportunities for assessors to improve the quality of property data, estimate values that more closely correspond to the market as evidenced by property sales, and improve the underlying valuation methods used to estimate values.
Once every fifth year Sudbury’s valuations and the mass appraisal methods used by our office come under review by the Massachusetts Department of Revenue. Fiscal year 2024 (July 1, 2023 thru June 30, 2024) is such a year. Having received preliminary DOR value certification on November 29th, 2023 we are now permitted to make proposed valuations available to the public for review. The list provided on our website reports Sudbury’s new valuations. Our official disclosure period will extend to the close of business on Wednesday, December 6th whereupon valuations will be finalized. Beyond that date your right to appeal the assessment requires the timely filing of an abatement application
Property owners having questions about their proposed valuations are welcome to bring those to our consulting Assessors’ attention, by e-mail addressed to Assessor Alex Cervone at acervone@rrgsystems.com, or to Assessor Harald Scheid at hscheid@rrgsystems.com. Either individual will promptly respond to questions.
In addition, the staff at the assessor’s office 278 Old Sudbury Rd. may be reached by phone at 978-639-3395, 978-639-3394, 978-639-3393, or by email to: assessorsinfo@sudbury.ma.us or in person at the assessor’s office, Flynn Building 278 Old Sudbury Rd. Office hours are Monday, Wednesday, Thursday 8:30 a.m.-4:30 p.m. Tuesday 8:30 a.m.-7:00 p.m. and Friday 8:30 a.m.-12:30 p.m.
Preliminary FY 2024 property record cards are available on request and may be emailed, picked up in person at the office or mailed via U.S.P.S.
If you observe a change in your valuation, the difference can be attributed to one or more of the following:
– Market appreciation
– Building permit related construction and improvements
– Inspections made as part of our periodic inspection program in which features listed on assessment records are updated.
The past several years have seen property values surge. Sudbury taxpayers may see their valuations increase by 20-percent or more. Ten years ago the average single-family home carried a value of approximately $625,000. That same home today has an estimated value of $1,082,466 most of the appreciation having been realized over the past several years. Adjusting values to correct for this trend is necessary to insure property owners have a sense that their home has been fairly valued. Taxpayers should understand that revaluations do not in and of themselves generate more tax revenue. We anticipate a reduction in the town’s tax rates.
Assessed valuations are not intended to predict what a property might sell for in the future. Assessors are only concerned with what properties were worth on the assessment date – the January 1st preceding the fiscal year of taxation. The assessment date for fiscal year 2024 is January 1, 2023. Properties having sold in the 12-month period preceding the assessment date effect. Many factors influence what a buyer might pay for a property, but only those that are readily quantifiable are used in estimating your valuation. For example, your assessment is based on features like location, land area, building area, type and grade of construction, age and condition, and amenities like garages, swimming pools and finished basements. Examples of property features not considered in your assessment include curb appeal, home dĂ©cor, and landscaping. We recognize that these latter features might well impact selling prices, but are not readily measured and difficult to defend.
