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<title>How to value exempt to taxable municipal buildings</title>
<link>https://maao.org/forums/posts.aspx?topic=1722927</link>
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<lastBuildDate>Fri, 5 Jun 2026 08:40:13 GMT</lastBuildDate>
<pubDate>Wed, 15 Feb 2023 11:11:09 GMT</pubDate>
<copyright>Copyright &#xA9; 2023 Massachusetts Association of Assessing Officers</copyright>
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<title>How to value exempt to taxable municipal buildings</title>
<link>https://maao.org/forums/posts.aspx?topic=1722927</link>
<guid>https://maao.org/forums/posts.aspx?topic=1722927</guid>
<description><![CDATA[Hello:
The Town of Erving recently sold two municipal buildings via the RFP process and I am trying to figure out if I should just use the assess value for supplemental billing and how I should value them moving forward into the next fiscal year.  The first building is an old elementary school  build in 1930 that is going to be converted into 4 one bedroom apartments.  These apartments will be market rent.  The buyer paid $10,000 for a building currently valued at 662,600.  The second building is the old library building built in 1968 that sold for $5,000 and valued at 282,200.  The building is going to be converted to a single family 3 bedroom house - ranch style.  Any advice is appreciated.

Thanks!

Jacquelyn Boyden
Principal Assessor
Town of Erving]]></description>
<pubDate>Thu, 19 Jan 2023 19:48:32 GMT</pubDate>
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<link>https://maao.org/forums/posts.aspx?topic=1723053</link>
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<description><![CDATA[Looks like you'll eventually have some New Growth! Tewksbury has sold several pieces of land and for the supplemental tax we applied MGL Chapter 44, Section 63A using the sale price (credit any exemptions) to calculate the supplemental tax and the fiscal year's tax rate or if one hasn't been set, the previous year's rate.  I usually give the closing attorney the amount for the fiscal year(s) tax and they collect it when processing the sale. <br />Hope this helps. ]]></description>
<pubDate>Fri, 20 Jan 2023 19:51:33 GMT</pubDate>
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<link>https://maao.org/forums/posts.aspx?topic=1726348</link>
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<description><![CDATA[For the prorated billing you use the sale price regardless of the assessed value.<br />]]></description>
<pubDate>Wed, 15 Feb 2023 12:11:09 GMT</pubDate>
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