FREQUENTLY ASKED QUESTIONS
1. What does my assessment represent?
The assessment is an estimate of market value. The definition of market value is the price a willing buyer would pay a willing seller in an open, competitive market, without any undue influences. The current assessment represents an estimate of market value as of January 1, 2010, for Fiscal Year 2011. This estimate of market value was determined by examining sales of properties from calendar year 2009.
2. What percentage of market value are the assessed values?
Assessments represent 100% of market value as required by Massachusetts General Laws. The assessments for Fiscal Year 2011 represent the estimate of market value as of January 1, 2010.
3. Why could my assessment change every year?
The assessed value represents the estimate of market value of the property. The real estate market changes constantly. The assessments change based upon these changes in the real estate market. The assessments do not automatically go up or down every year. The changes in the assessment reflect the real estate sales from the appropriate time period. For Fiscal Year 2011, assessments were determined by examining sales of properties from calendar year 2009.
4. My tax bill has gone up more than 2.5%. Doesn’t Proposition 2 ˝ limit the tax increase?
Proposition 2 ˝ limits a community to raising town-wide taxes by 2.5% from the previous year’s levy limit. Proposition 2 ˝ does not limit any individual property tax increase or decrease.
5. Why does the previous owner’s name still appear on the tax bill?
Legally, the assessors must retain the owner of record as of January 1, 2010, for Fiscal Year 2011. If you purchased the property after January 1, 2010, by law we will carry both your name and the legal owner as of January 1, 2010. For Fiscal Year 2012, the legal owner as of January 1, 2011, will be maintained. This is when the prior owner would be removed and your name would be the only name appearing on the ownership record.
6. What is the difference between an abatement and an exemption?
An abatement is a reduction in a real estate valuation based on a correction to the assessed valuation. The only criteria the assessors examine on an abatement application are the accuracy of the property data and the market value of the property. An exemption is a reduction in a real estate tax based on an individual meeting certain qualifications set forth by the Commonwealth of Massachusetts. For example, being a disabled war veteran for a veteran’s exemption, or being blind for a blind exemption. Please refer to “Personal Exemption Information” under the BOA section of the Town website for a more detailed explanation of the requirements for these and other exemptions.
7. What are the median assessed values of single families, two families and condominiums for Fiscal Year 2011?
The median assessed values for Fiscal Year 2011 are as follows:
Single Family
$374,000
Two-Family
$346,300
Condominium
$222,850
8. There is an item on my tax bill called “CPA Charge”. What is that?
The term “CPA Charge” refers to The Community Preservation Act surcharge approved by the voters of the Town of Sharon beginning in Fiscal Year 2006. This surcharge is 1% of the total property tax due for the parcel. This surcharge, approved by a majority of Town of Sharon voters, is for the acquisition and preservation of open space, recreational land, affordable housing, and historic properties. The Commonwealth of Massachusetts will match the amount collected by the Town of Sharon up to but not to exceed 100% of the total surcharge money collected.
9. I have a new house
and recently I received a supplemental tax bill for the same fiscal year. Why
did I receive more than one tax bill for the same property for the same fiscal
year?
The Board of Assessors issues a supplemental tax bill to property owners whose property had construction resulting in an increase in market value (assessment) of more than 50%. This provision is triggered by the issuance of an occupancy permit and an increase in market value of more than 50%. The assessors analyze all properties with occupancy permits to determine if the construction added more than 50% to the fair market value of the property. If the construction added more than 50% to the fair market value of the property, then a supplemental tax bill is issued. The supplemental tax is based on the difference between the original market value and the new market value, multiplied by the tax rate and prorated from the date of the occupancy permit to the end of the fiscal year.