Page 180 - BOXFORD

Boxford’s Fiscal Year 2017 total property valuation of $1,717,291,712 includes $12,364,834 in
new growth that occurred during this past fiscal year, which is an increase of $1,444,294 over the
prior year. This year’s growth is made up of a combination of new construction, additions, new
lots, and miscellaneous building improvements.

New home construction is a major contributor to new growth. The number of new home permits
has grown over the past few years and has increased over 70 percent for Fiscal Year 2016 when
compared to Fiscal Year 2015.

Fiscal Year New Home Permits
2006 9
2007 4
2008 5
2009 3
2010 3
2011 2
2012 4
2013 4
2014 7
2015 7
2016 12

After a review of home sales that occurred during 2015, the Board determined that property
valuations increased approximately three percent from the prior year. Valuation changes varied
for individual parcels according to style, condition, location, and size. The average residential
property assessment for Fiscal Year 2017 is $608,000, an increase from the Fiscal Year 2016
average residential property assessment of $590,000. The 2017 tax rate was set at $16.31 per
thousand of assessed value, a decrease of about one percent from last year. A total of 3,062 real
and personal property tax bills were issued for Fiscal Year 2017.

As in previous years, the selectmen voted a multiplier of one for all commercial and industrial
properties, meaning their tax rate stays the same as residential. The town relies heavily on
individual homeowners for tax revenues as residential properties account for almost 97 percent of
all properties.

The assessors recognize that the requirement to follow specific state revaluation regulations
creates a hardship for some residents, particularly the senior population. The assessors continue
to work with the Council on Aging to ensure that all seniors are familiar with any and all tax
lowering programs that are available to them.

In Fiscal Year 2016 (prior year), of the 3,057 real and personal property tax bills that were issued,
only 21 resulted in abatement filings. The percentage of abatement filings was less than one
percent. Approved abatements resulted in 17 valuation changes and a $20,641 reduction in taxes.

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