In accordance with the guidelines established by the Massachusetts Department of Revenue, the Board of Assessors has completed its annual revaluation of all real and personal property for the purpose of local property taxation.
Massachusetts law requires that all property be assessed at its fair cash value as of January 1, 2022. Fiscal Year 2023 assessments are based on analysis of arms-length sales and market conditions that occurred during the 2021 calendar year. Sales from the year 2020 were used to value property when the number of 2021 sales were insufficient for analysis. The Board of Assessors has conducted the necessary analysis and adjusted assessments accordingly. Please note, assessments will not reflect real estate sales or market conditions from calendar year 2022, this will be reflected in Fiscal Year 2024 values.
The median increase for residential properties was 16.00%, the median increase for commercial properties was 16.00%, and the median increase for industrial properties was 20%. Personal property as a class increased in total value by 5%. These changes reflect overall effects on large classes of property. Individual assessments may have changed more or less than the median.
The Department of Revenue requires the Assessors to publicly disclose the proposed assessments for a minimum of five business days for the public to view and have the opportunity to inquire about the new assessments before they are certified. Please view the proposed FY'23 values here. This information will be available for review Monday, October 31, 2022 through Friday, November 4, 2022.
Taxpayers may also inquire about their new assessments during our disclosure period by calling 781-961-0906, visiting the Assessor’s Office at 41 South Main Street during regular business hours. Inquires may also be made via email to assessor@randolph-ma.gov. Town Hall business hours Monday - Friday 8:30 AM to 4:30.
The Bureau of Local Assessments within the Department of Revenue performs a comprehensive review of the Town's analysis to ensure uniform and equitable property values. Once all standards were met the Commissioner of Revenue issued the Town of Randolph preliminary certification.
At the expiration of the disclosure period, the Town will seek final certification from the state and finalize assessments for tax billing.
Respectfully
Randolph Board of Assessors
Original source can be found here.
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