Boxborough issues quarterly real estate bills throughout the fiscal year, which runs from July 1st through June 30th. The typical due dates are August 1st, November 1st, February 1st, and May 1st. The first and second quarter bills, which are due in August and November, are preliminary only, and calculated by taking the total net tax paid in the prior fiscal year and dividing it by four, with one-fourth paid on each bill.
Once new values and a new tax rate are certified, the actual tax amount due for the fiscal year is calculated. From this new total amount owed for the year, the total of the preliminary payments is subtracted, and the new net amount due is split between the third and fourth quarter bills. Typically the amounts due on the first and second quarter bills will be the same, and the amounts due on the third and fourth quarter bills will be the same, but all four bills are not usually in the same amount.