These materials have been prepared by the Bureau of Local Assessment (BLA) to assist assessors to plan and carry out the reassessment program necessary to achieve full and fair cash value in accordance with the requirements of G.L. c. 40, § 56 and c. 58, §§1, 1A and 3. These Certification Standards (The Guidelines for Development of a Minimum Reassessment Program) specify technical, procedural, administrative practices and assessing expectations.
An assessment is the value placed upon all real and personal property for the purpose of local property taxation. An analysis of market conditions along with the assessment level and uniformity must be performed annually as of January 1 whether for the five-year certification or for an interim year adjustment.
The five-year certification review is conducted by BLA staff to ensure the proposed values were derived utilizing a methodology based on generally accepted mass appraisal practices, are supported with current market evidence and are uniformly and equitably applied to all property.The data quality, all cost and depreciation tables, and land schedules will be reviewed for all real property. In addition, income producing property will be reviewed for income and expense analysis, development of the economic rent schedules, capitalization rates and correlation of the values derived from two appraisal approaches. Personal property accounts will be reviewed for appropriate listing and valuation of assets along with the cost and depreciation schedules.
The statistics must conform to the Commissioner’s minimum standards for certification as established in these Guidelines and will be used for the purpose of measuring the level and uniformity of assessments before and after the revaluation.Conforming statistics are not solely determination that the proposed valuations are appropriately derived or applied.
Statistical medians and CODs alone are not to be considered market evidence.
Assessors may be requested to provide additional documentation, to supplement the standardized reports, during the certification review as questions arise.