The Town of Nahant Assessors’ Office has received preliminary certification for Fiscal Year 2023 real and personal property assessments from the Massachusetts Department of Revenue. In accordance with Massachusetts General Laws chapter 40 Section 56, the Fiscal Year 2023 proposed assessed values on all properties in Town have been adjusted to reflect the full and fair market value as of January 1, 2022.
The five-year certification review is conducted by Bureau of Local Assessment (BLA) staff at the Department of Revenue 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. This mass appraisal system is comprised of the following: data management, valuation, performance analysis, administration and appeals. Our revaluation program is based on a mass appraisal process utilizing the components of an acceptable mass appraisal system approved by the BLA.
This process took longer to complete than previous certification/revaluation years due to the change from a 3 year audit to a 5 year audit. The Town was last certified in FY2018 and this is our first 5 year certification/audit cycle.
The updated assessments may have increased or decreased and they reflect changes to neighborhoods and to individual properties based on field review, statistical analysis of sale property data, and the mandated certification process. Our revaluation resulted in an increase of about 11% for the residential class properties; single family, two family, three family, condos and 4+family units.
As part of the public disclosure period, the proposed Fiscal Year 2023 valuations will be available in report form at the Town Library and Town Hall. In addition, computer access will be available on the Town website (Nahant.org) under Real Property in the Town Assessor/Department tab. You may call the office (781-581-0212) to schedule an appointment to discuss your new assessment for a date beginning July 12 through July 26, 2022 between 8:30 am to 3:00pm.
Go to the Town of Nahant Assessor’s Department for Property Card information @ nahanat.org.
Sheila K. Hambleton, Town Assessor