What is the 5 year revaluation?

Certification Standards must be met by every city and town in Massachusetts every 5 years mandated by the Bureau of Local Assessment (BLA) within the Department of Revenue. The certification requirements in brief apply mass appraisal methodologies to market sales, cost and income approaches to value in order to maintain consistency among each class of property. These methodologies apply to data quality, cost and depreciation tables, land schedules, income producing properties, personal property, etc. The statistical analysis must conform to the Commissioner's minimum standards for certification for each class in terms of uniformity and assessment to sales price ratios. The difference in the assessment to sales price depending on the class should be 5% or less, but may not go below 90% or above 110%. Land valuation (improved and vacant) must be analyzed by the prime lot indicated value for residential, commercial and industrial neighborhoods. Land residual analysis on sales to determine rear and excess acre values are also determined. Land schedules for income producing properties (apartments, mixed use, commercial and industrial) are supported with market sales and income data. Most municipalities contract with independent professional revaluation contractor to perform these services. Plympton solicited a Request for Procurement for the FY22 recertfication found here and the contract was awarded to Paul Kapinos and Associates.Once the revaluation has received preliminary approval from the BLA a public disclosure notice was placed on the Town website including a link to the proposed values for Fiscal Year 2022.