What is the basis for determining residential property values?
  • Sales of vacant and improved properties are the primary source of data.
  • Land values are set using all available land sales.
  • Analysis of new construction is done to establish construction costs, including builder's profit.
  • Analysis of older homes establishes the amount of depreciation indicated by the current market.
  • Costs of outbuildings from building permits and advertised prices are used to indicate outbuilding values.

Show All Answers

1. How does the Assessors’ Office determine the value of my house?
2. What does 100% of full and fair cash value mean?
3. How is Mass Appraisal different from a Fee Appraisal?
4. What is the basis for determining residential property values?
5. Why do land values change at different rates from building values?
6. Who verifies that the assessing model used by the Town and the resulting property values are accurate?
7. How may I contest my assessed value if I think it is too high?
8. Why should I let the Town Assessing Department in my house for an inspection?
9. How are Real Estate taxes calculated?
10. Why can the town raise my taxes by more than the 2 1/2% limit prescribed by Proposition 2 1/2?
11. What if I cannot afford to pay my Real Estate taxes?