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Select Board outlines town revaluation: assessed values expected to rise; tax rate to adjust
Summary
Chair Norman Brown said the town is in a five-year revaluation and the state estimates current assessments at about 52% of market; the board said assessed values may near 100% market and property assessments could roughly double while the tax rate will be adjusted to raise the same total revenue.
Chair Norman Brown told residents the town is undergoing its scheduled five-year revaluation and that the state Department of Revenue currently estimates Jefferson's assessed values at roughly 52% of market value. "What this means is that people's property values are more than likely going to double in November," Brown said, noting that the tax rate will be set based on March Town Meeting appropriations and is expected to fall to offset higher assessments.
Kevin Meehan and other board members explained that revaluation adjusts assessed values across the town so the same municipal budget is distributed over a different tax base; they emphasized that although assessed values may rise, most taxpayers should not see proportionally larger bills because the rate is lowered to meet the approved levy. Residents asked about counting full-time residents and impacts from post-pandemic construction of higher-priced houses; the board said assessments use market value and are managed by contracted assessors and the state review process.
