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Certification/Tax Rate

Fiscal Year Certification of Assessments and Tax Rate

The DOR’s Bureau of Local Assessment, Division of Local Services (DLS) ensures that cities and towns achieve sound and equitable assessment of real and personal property through training and oversight. DLS is responsible for ensuring the fairness and equity of local property taxation along with the accuracy and quality of local accounting and treasury management, and other important government issues.

Nahant was one of more than 100 communities to be audited by the DLS as part of their new 5 year recertification program and was first in the state to be recertified. The DLS’s recertification process consists of, but is not limited to, a data quality review, a statistical ratio studies review, and a valuation review to ensure that proper appraisal methodology was utilized and uniformly and equitably applied to all property.

A recertification program is based on the mass appraisal process utilizing the components of an acceptable mass appraisal system. The mass appraisal system is comprised of the following: data management, valuation, performance analysis, administration and appeals.

Sufficient data was collected by utilizing the land residual technique along with the various approaches to value (market, income, & cost) to produce acceptable credible land values for all real property consisting of residential, commercial and industrial properties.

Our residential land values were developed through the analysis of recent vacant land sales within Nahant as well as reviewing sales in surrounding communities. There was one vacant land sales in Nahant from January 2015 to December 2016. Due to the lack of land sales in the town the land residual technique was employed.

Personal property accounts were analyzed to ensure accurate valuation. This review included identifying the owners of personal property as of January 1 to determine taxable status, information on the taxable assets and the valuation of those assets. Annual discovery of accounts took place through a review of building permits, business permits issued by the town clerk, and a review of business advertisements posted around Town, along with other approved methods. This year there are 100 taxable personal property accounts that make up second homes, general business and utilities.

Included in the recertification program is the requirement to maintain and update our tax maps. We are in full compliance. You may access Nahant’s tax maps and property record links through the Town’s website, www.nahant.org and go to GIS tax mapping link on the front page.

Call the Assessor’s office for further details, (781) 581-0212