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You do not have to allow the assessors into your home. We only request the inspection in order to be as fair and accurate as possible. However, if an assessor is denied entrance, property owners give up their ability to challenge the assessed value.
Assessments by law in Massachusetts are 100% of full and fair cash value more commonly referenced as market value.
DISCUSSION OF LAW: Under G.L. c. 64H, § 6(s), sales of machinery, or replacement parts which are "used directly and exclusively . . . in an industrial plant in the actual manufacture of tangible personal property to be sold . . . " are exempt from the sales tax.
A corporation classified as a manufacturing corporation by the Department is entitled to an exemption of all its machinery from local property tax. See 830 CMR 58.2. 1(4). The exemption applies whether or not the machinery is used directly in manufacturing.
Manufacturers Investment Tax Credit The credit is calculated by computing 3% of the total capital investment in qualified equipment and facility leasehold improvements.
State law requires that all property in the town be assessed within ten percent of market value every three years and the Department of Revenue is required to certify that a community has done this. A revaluation is the best way to ensure uniformity and equity in accomplishing this mandate.
A personal income tax exemption allows a portion of Massachusetts filers' salary to be deducted from the income tax they owe. Filing status. Exemption. Single. $4,400.
The Massachusetts estate tax exemption has increased from $1,000,000 to $2,000,000 retroactive to January 1, 2023. As of October 4, 2023, the Massachusetts estate tax filing exemption will retroactively increase to $2,000,000 for decedents dying on or after January 1, 2023.