Consider the following prior to filing for abatement:
- Assessors in the Commonwealth of Massachusetts are charged with valuing every property in their respective municipalities fairly and equitably.
- Each year the Sudbury Board of Assessors assigns a “full and fair cash value” to every parcel of real estate in the town.
- The town operates on a fiscal year basis, which runs from July 1 to June 30. Assessments are approximations of what the value of each property was on January 1 prior to the beginning of the fiscal year.
- Property assessments are always established as of a fixed point in time unlike fee appraisals and the real-time sales market. The data used to establish assessed values are compiled from sales of the preceding calendar year. For example, FY 2014 commenced July 1, 2013, and the values were fixed as of January 1, 2013.
- The sales data used to determine assessed values were extracted from calendar year 2012 property sales. Only marketplace-derived sales (aka “arm’s length”) may be used. Arm’s length or marketplace-derived sales are those involving a willing buyer and a willing seller unrelated to each other and free from compulsion to buy or sell.
- Application forms are available at the Assessors Office 278 Old Sudbury Rd. Sudbury, MA. 01776
- For further information call 978-639-3393.