What does my assessment represent?

The assessment is an estimate of market value. The definition of market value is the price a willing buyer would pay a willing seller in an open, competitive market, without any undue influences. The assessment represents the estimate of market value as of January 1, 2021 for Fiscal Year 2022. This estimate of market value is determined by examining sales of properties from calendar year 2020. Although the majority of properties are not for sale, Massachusetts General Laws requires an assessment, or an estimate of market value, on every property. Sales of similar or comparable properties within a neighborhood are the best indicator of market value.

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1. What is mass appraisal?
2. What does my assessment represent?
3. What do the assessors look at when determining an assessment?
4. Why did my assessed value increase (or decrease) when I did not do anything to the property?
5. Why did my assessment change a different percentage than the assessment on my neighbor’s house?
6. What is Proposition 2 ½?
7. My assessment increased more than 2.5%. Doesn’t Proposition 2 ½ limit the amount my assessment can increase?
8. What if I disagree with the assessment of my property?