~Submitted by Matthew Lanefski, Assessing Director, Town of Bedford
Each year, the Board of Assessors approves new values for all properties. Every five years, state law requires the Massachusetts Department of Revenue to provide an additional layer of revaluation and approval. An increase in your assessment does not automatically indicate a similar percent increase in your tax bill, because the tax rate for fiscal year 2023 has not yet been set.
This year, 2022, is a year that requires an additional layer of review and approval, and the Assessing Department has been hard at work, fully revaluing all real and personal property. This means that all the procedures used in valuing real and personal property in Bedford are being analyzed for approval by the Massachusetts Department Revenue. This process ensures property assessments are fair and equitable.
The preliminary values will be disclosed to the public on October 24 on our website, www.bedfordma.gov/assessors/disclosure. Between October 24 to October 28, property owners can review their preliminary assessment before it becomes final. We encourage you to take a look at your new property value. If you have any questions, please contact the Assessor’s office.
Most property values increased due to the number of sales that occurred with prices exceeding assessed values in 2021, which is the last calendar year evaluated. By state law, Assessors are required to value property at their full market value and recent sales are the best indicator of true property values. Again, please note that an increase in your value does not indicate a similar increase in your tax bill.
Assessing staff are prepared to help with any questions you may have regarding your new valuation. For more details, please visit the Town of Bedford Assessor’s website. The office can be reached at 781-275-0046.