TOWN OF WALPOLE

SOME IMPORTANT POINTS ABOUT YOUR FISCAL YEAR 2012 ASSESSMENT:

Board of Assessors   135 School Street   Walpole, MA 02081        508-660-7315

Frequently Asked Questions on the Property Tax Process:

• What is an assessment?

The assessment is the value of property to be used for local taxation as determined by the Board of Assessors through a series of market analysis of the 2010 Real Estate Market and regulations set by the Commissioner of Revenue

• Why did my assessment change?

All communities are now required to update their assessments annually to meet requirements as outlined in the Guidelines to a Minimum Reassessment Program, section III by the Department of Revenue.

I. To meet these requirements and based upon residential sales in Walpole in 2010, it is estimated that the average single family assessment will increase by .027 % for FY 2012. (From $404,800 to $405,924 an increase of $1,124).

II. The average single family tax bill will increase by 3.71 % from the previous year. (From $5,538 to $5,743 or $205 Dollars).

• Why did the average single family assessment increase by  0.27%?

As stated above, the Board of Assessors are required to meet guidelines by the Commissioner of Revenue, the guidelines require that the assessments be based calendar year 2010 sales and not from calendar year 2011 sales. Regardless of whether assessments go up or down, the Town will still raise approximately $52,636,000 in property taxes for FY 2012.

• Is the purpose of a revaluation to increase taxes?

No, the purpose of a revaluation is to make assessments for all parcels in Town, fair and equitable in relation to each other, based upon the 2010 Real Estate Market. Whether taxes as a whole go up or down has more to do with the Town's budget rather than if your assessments decreases or increases. As stated above, the Town will still raise approximately $52,636,000 in property taxes for FY 2012 no matter what the assessments are.

• How can my assessment change when I haven't done anything to my property?

Since assessments must be based upon market value, assessments will continue to change during rising and declining real estate markets. As property values change in the marketplace (sales), those changes must be reflected in the assessments. All properties, however, do not change in value to exactly the same degree. Many factors influence values. Among the numerous factors to be considered are location, condition, size, quality, number of baths, finished basement, garages, additions, traffic, and utilities.

• How are my taxes determined?

The amount of taxes you pay is determined by the appropriations voted at Town Meeting. The Town adopts a budget that reflects what services will be provided and the cost to provide those services. After Town Meeting adopts a budget, the amount of taxes to be raised is calculated in accordance with Proposition 2-1/2 and divided by the total taxable valuation of the Town to determine the projected single tax rate. The Board of Selectmen holds a public hearing to determine whether and how much residential tax will be transferred onto the commercial properties, commonly referred to as the split tax rate (commercial properties pay a higher tax rate than residential properties). All the information is forwarded to the Department of Revenue for its review and approval. The tax rates are then finalized to raise the needed dollars to pay for the services that the Town voted to provide.

• What if I disagree with the assessed value of my property?

If you believe that your property is over assessed based on calendar year 2010 sales, not assessed fairly in comparison to other properties, or that it is not classified correctly, you have the right to file for an abatement of taxes. An application must be filed with the Assessors Office. Applications are available at the Assessors Office. In filing an abatement application you will want to be specific about why you disagree with your assessment. Is there some misinformation on your property record card? Did you find values of comparable properties lower than your property? Please provide us with all the necessary information to support your position on valuation.

• When can I apply for an abatement on my Real or Personal Property?

Once the ACTUAL TAX bills (3rd installment of Quarterly Billing) are MAILED, you will have until the due date of the 3rd installment (February 1, 2012) to file an abatement application with the Assessor's Office. Please note that the Board of Assessors may only consider an application for an abatement that has been filed with the Assessor's Office in a timely manner. (Feb 1st 2012)

• I just received a tax bill for my property addressed to the previous owner, why is their name on the bill?

If you purchased your property after January 1, 2011, state law requires that the owner as of January 1st name must appear on the tax bill for Fiscal Year 2012. (Your name will appear on the first quarter bill for FY 2013 (July 1, 2012).

• How can I learn more about my rights for an abatement, exemption, or deferral?

By contacting the Board of Assessors' Office at (508) 660-7315 or stopping by their office Monday, Wednesday, Thursday - 8:00 am - 4:00 pm, Tuesday - 8:00 am –8:00 pm Friday - 8:00 am – 12:00 pm