FY2024 Property Revaluation

FY2024 PROPERTY REVALUATION

The Boxford Board of Assessors is currently in the process of completing the Fiscal Year 2024 State Mandated Five-year Certification of all assessed property values as of January 1, 2023.  Boxford has received preliminary certification from the Massachusetts Department of Revenue.

The new values will be reflected in the third quarter tax bills, which are due to be mailed on December 31, 2023.  Preliminary values for all properties are available for public review from October 12, 2023 to October 19, 2023.  For the convenience of the taxpayers, the proposed values will be compiled in books and will be available for inspection at the library, the Council on Aging, and the Assessor’s Office in Town Hall.  They will also be available on our website at www.town.boxford.ma.us/assessors. These valuation amounts will become final when the Massachusetts Department of Revenue (DOR) finishes its five-year review of the valuations and certifies the results.

The new assessed values were derived through analysis of the property sales that occurred during calendar year 2022.  This mass appraisal method of valuation is the assessment methodology mandated by the DOR.  A total of 94 sales, representing about 4% of the total number of single-family homes in Boxford were reviewed.  The assessed values of the sold properties were then updated in accordance with DOR guidelines.  The revised values of the sale properties were then used as a guide to determine the assessed valuation of the remaining town properties.

The total assessed valuation of taxable property in the town has increased by about 13%.  The assessed value of the average single-family home in Boxford for Fiscal Year 2024 is $952,405.  Valuation changes will vary for individual parcels according to style, condition, location, and size.   In addition to the review of market data, the Assessing Department conducted cyclical property inspections on over 50% of the town’s properties since the last Five-year Certification.  These inspections resulted in numerous corrections to our database.

If any taxpayer wishes to review, discuss, or request changes of the proposed valuations, they should call the Assessor’s office at 978-887-6692, or visit our office by October 19, 2023.  Office hours are Monday through Thursday from 8:00am to 4:30pm.  The office is closed on Fridays.