Most of the country has seen declining property values, is the greater Boston area included?

I have two properties (one in Marshfield and the other in Plymouth), whose assessed values have increased over 15%, taxes have gone up equally and I'd like to know if that area's market values have been hit like the rest of the country? Do you think I could fight the valuation on the basis that values have dropped in MA?
In Market Conditions - Asked by Kelli H. - Jul 13, 2009
Report Abuse
Answer this Question

Answer(s)

Paul S.
Broker/Agent
Glendora, CA

Most assessors have a vehicle where you can challenge their assessments. I have seen reports that state Boston has declined in value recently. You will need to find out what the rules are for your challenge but they will no doubt require comparable sales figures for like kind property?

Jul 15, 2009
Report Abuse
Davide P.
Broker/Agent
Pinole, CA

Two recommendations. If both properties are single family homes, it should be fairly easy to find the approximate value of the homes by searching nearby sales. Even if the properties are two small multi units it should work (duplex, triplex, etc). If the properties are larger commercial ones such as an office building, apartment, etc then you might want to research the sales psf or cap rates and apply that to your current net income stream. Call the assessor's office and ask what is needed. The website is below.

Jul 16, 2009
Report Abuse
Gregory G.
Broker/Agent
San Francisco, CA

You could... also there are a couple companies that will do it for you.
http://www.gregorygarver.com

Sep 1, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question