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To be eligible, the owner must occupy the property as their principal residence on January 1 preceding the fiscal year for which they are applying. A fiscal year runs from July 1st to the following June 30th. For more information contact the contact the Assessor's office at 617-730-2060 or visit the Residential Exemptions page.
To determine fair market value, actual sales are used. The sales considered are those which occurred 12 months prior to the January 1 assessment date and 6 months after the January 1 date, trended back to January 1.
All arms-length sales are considered bearing in mind that all buyers and sellers are not knowledgeable and that the market is imperfect in that regard. For this reason, one individual sale is not used to determine "market value." In reviewing and researching 18 months of sales, the assessor is able to estimate the approximate price a willing buyer might pay for a property on January 1.
1st Quarter - July 1st 2nd Quarter - October 1st 3rd Quarter - January 1st 4th quarter - April 1st.
The bills are sent thirty (30) days prior to the dates they are due. The quarterly tax payments are due thirty days from the date the tax bill is issued on the following dates:
August 1st November 1st February 1st May 1st
NOTE: If the 1st of the month falls on a weekend or Federal Holiday, taxes and abatement applications are due the first business day immediately following the 1st.
Personal PropertyPersonal property is generally those items not permanently affixed to real estate. Personal property is movable and can be removed without serious damage either to the real estate or to the item being removed. The 3 categories of taxable personal properties are:
Business and professional furnishings Household furnishings, in property other than the principal residence Personal property of public utilities