Maria owns a single-family home in Worcester and believes her property has been over-assessed by the city. She wants to formally challenge the assessment. Under Massachusetts law, by what date must she file her Application for Abatement with the board of assessors?
Correct Answer
A) Within 90 days of the third-quarter tax bill being issued
Under MGL Chapter 59, Section 59, a property owner must file an Application for Abatement within 90 days of the date the third-quarter (January) tax bill is issued. In Massachusetts, the fiscal year runs July 1 to June 30, and the third-quarter bill is the first bill that reflects the full annual assessment. Missing this deadline results in loss of abatement rights for that fiscal year.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A transfer tax is a tax imposed on the transfer of ownership of real estate.
Reconciliation is the final step in the appraisal process where the appraiser analyzes the value indications from all applicable approaches and arrives at a single final opinion of value. It is not a simple average of the three values.
The comparable sales approach estimates a property's value by comparing it to similar properties that have recently sold in the same market area. It is the most widely used and reliable approach for appraising residential properties.
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- → External obsolescence in Oklahoma:
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