How do Assessors determine value?
Assessors are required by Massachusetts law to value all real and personal property at its full and fair market value, the amount a knowledgeable, willing buyer would pay a knowledgeable, willing seller on an open market. Assessors first inspect each property to record specific features of the land and buildings that contribute to the propertys overall value. Living area, construction style, the year built, quality of construction, number of rooms, baths, fireplaces, type of heating all are examples of the data listed on individual property record cards. By state regulation, each structure in town must be inspected at least once every nine years to verify the data on the record cards. Finding the full and fair market value of a property involves discovering what similar properties are selling for on the open market. Assessors make an effort to physically inspect all properties that sell to ensure that the data used to assess the properties is correct. The assessed values are compared t
