What are property taxes ?
The major source of revenue for the 351 cities and towns in Massachusetts is the property tax. The property tax is an “ad valorem” (based on value) tax. The tax is apportioned to individual properties based on the value of the property. In Massachusetts, estimates of value are called assessments. The assessments of a large number of parcels for property tax purposes constitutes a highly specialized field of appraisal. In Massachusetts, the property tax is assessed on real and personal property to the person who is owner on January 1.
The California Constitution mandates that all property is subject to taxation unless otherwise exempted by state or federal law. Proposition 13, enacted in 1978, forms the basis for the current property tax laws. Property taxes are based on the assessed value of your property. Secured property taxes become a lien against real estate. Real estate includes: • Land – vacant, mines, standing timber; • Structures or improvements on land – your home, business/office buildings, apartments, etc.; and • Other Improvements – fixtures, leasehold improvements, fences, fruit trees, nut bearing trees (but not growing crops), or ornamental trees and vines. Unsecured property taxes do not become a lien against the property. Usually, unsecured taxes are levied on personal property, including, but not limited to: • Boats and airplanes; • Portable machinery and equipment, tools, and supplies used in businesses; • Office furniture; and • Any other property taxes that are not liens against the real propert
