Fiscal Year 2019 Assessments Are Posted

City of Newton
Assessment Administration
Fiscal Year 2019 Assessed Values

The Newton Board of Assessors announces that the public disclosure period for proposed fiscal year 2019 assessed values commences on October 24, 2018 and ends on November 7, 2018. The values have received Massachusetts Department of Revenue preliminary certification.

The fiscal year 2019 values reflect fair market value as of January 1, 2018. As required by Massachusetts state law, the fiscal year 2019 assessments are based on sales of similar properties in late calendar year 2016, calendar year 2017, and early calendar year 2018. Residential sales activity during that period indicated an increase in market value of properties in the City of Newton. Assessed values of most residential properties will increase on average between 7% and 9%. Based on an analysis of sales and rents, the median assessed value increase for apartment buildings with four or more units is between 10% and 12%. An analysis of income and expense information for commercial properties in the City of Newton indicated an increase in most commercial values, depending on factors such as location, condition and use.The median commercial and industrial property assessed value increase is 9%.


The new assessed values are available for review at

https://newtonma.mapgeo.io

 Residential property owners may research late calendar year 2016 sales, calendar year 2017 sales and early calendar year 2018 sales in their neighborhood on the city's website at the Assessing Forms link. Scroll down the Assessing Forms page after clicking on the link below to select the type of residential sales (single family, two and three family, or condominium) that are relevant to review.

http://www.newtonma.gov/gov/assessor/forms.asp

 There also is a link to frequently asked questions (FAQ’s). http://www.newtonma.gov/gov/assessor/faq/default.asp

 Computers with public internet access are available at the Newton Library at 330 Homer Street and at the Assessors’ Department on the first floor of City Hall at 1000 Commonwealth Avenue.

 Questions about the assessed values should be directed to the Assessing Department at assessing@newtonma.gov or 617-796-1160.  

The Assessors’ Office is open from Monday through Friday from 8:30 A.M. to 5:00 P.M. and on Tuesday evening until 8:00 P.M.    

The Mayor and City Council adopted the fiscal year 2019 budget this past spring. A tax classification hearing, at which the City Council will approve the new tax rates for fiscal year 2019, will be held on November 19, 2018. Tax bills will be issued in late December.

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