If assessed values rise, do taxes have to rise?

No. The Assessor calculates the total assessed value of all taxable property in Boxborough. The tax rate is simply a mathematical equation that divides the amount approved at Town Meeting to be raised through taxation (called the levy), by the total value of taxable properties.

For example, if the total taxable value is $800 million, and the approved levy amount is $10 million, the tax rate would be $12.50 per thousand: 10,000,000 divided by 800,000,000 equals 0.0125 times 1000. If your property is valued at $400,000, your tax bill would be $5,000. If values rise the next year by 20%, the total value for the town would be $960 million. Assuming the same levy amount to be raised, the tax rate would drop to $10.42 ($10 million divided by $960 million times 1000). Your new assessed value would be $480,000 with the 20% increase, and your new tax bill would be $480,000 times 0.01042, or $5,000.

Show All Answers

1. What is the Valuation Criteria?
2. What changes are made each year?
3. Why do different property assessments go up (or down) in different proportions?
4. When my neighbors house sells, will their price determine my assessment?
5. How will this new valuation affect my tax bill?
6. How can I get more information?
7. Why are the tax amounts on my bill different from what I paid last quarter?
8. My property value appears to be a little high, but I'm not sure if I'm over assessed. What should I do?
9. How do I file for abatement?
10. If I file an abatement request, do I have to attend a hearing with the Assessor?
11. What is a revaluation, and when does one occur?
12. Why do some assessments increase more than others after a revaluation?
13. If assessed values rise, do taxes have to rise?
14. Does the assessor need to inspect my house?
15. How do I file for homestead declaration?
16. How do I obtain property record cards online?