Wendell Property Assessments Rise 3% for FY24: What This Means for Local Homeowners

Wendell, Massachusetts has reported a 3% increase in real estate and personal property assessments for fiscal year 2024. This is based on market sales data from 2021-2022. The effect of this increase on individual tax bills will differ for each property.

Usually, a rise in assessed value results in a lower tax rate. However, the final impact on each taxpayer's bill will be influenced by the specific features of their property. The town clarified that assessors' role is to determine property values using guidelines from the Massachusetts Department of Revenue, not to adjust taxes.

Assessors do not engage in property transactions. Instead, property prices in the open market are determined by buyers, sellers, and other market participants. These market forces, not the assessors, primarily drive property values.

In summary, the increase in Wendell's real estate assessments for FY24 may influence individual tax bills. However, the final impact will depend on various factors. Assessors determine property values based on regulated guidelines, and market forces significantly shape these values.

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