Assessors are required by Massachusetts Law to list and value all real and personal property. The Department commits Motor Vehicle excise tax, administers farming, recreational and foresting programs, processes exemptions and abatements, maintains a mapping system for assessment purposes and maintains the computer based inventory and property records, for all land, buildings and businesses within the Town of Hampden.
FY2021 Tax Rate = $19.67
Changes In Assessed Values
The average single-family home in Hampden has increased in value from $270,000 to $288,000 for fiscal year 2021. This represents about a 7% increase. The rise in property value for the average single-family home is based off of the data that has been collected from sales of similar homes in town.
As the values have increased on many properties, the tax rate has gone down. The tax rate has decreased from $20.15 in fiscal year 2020, to $19.67 in fiscal year 2021.
Below is an example of how these changes could affect a tax bill.
Average single-family home = $270,000
X FY2020 Tax Rate = x $20.15
$5,440.50 - FY2020 Taxes
Average single-family home = $288,000
X FY2020 Tax Rate = x $19.67
$5,664.96 - FY2021 Taxes
Using this example of the average single-family home, the annual real estate taxes would increase by $224.46.
This increase would be reflected in the last two quarterly bills of the fiscal year. For fiscal year 2021, these would be the bills that are due on February 1st and May 1st of 2021. The bills that were paid on August 1st and November 1st have already been deducted from the total for the fiscal year and the difference is split between these last two quarters.
Please note that the example used may not reflect the actual change in value for your home. To find the change in value on your property, please look to your FY2020 and your FY2021 bills.
|Jane Ferrentino||Associate Assessor|
|Kelly McCormick||Principal Assessor|