The Island Counties Assessors Association announced that all Island towns will recertify property values for fiscal 2012, which begins on July 1, 2011.
Recertification of property values is a complex process that begins with reviewing and updating existing property data, Edgartown assessor Jo Ann Resendes said in a press release to The Times.
Assessors will also collect additional data, including property sales information, rental income, and expense information, and construction cost information. Calendar 2010 property sales will be verified and analyzed and then compared with existing assessed values. Following completion of this phase, property values will be adjusted as indicated in order to meet the full and fair cash value standard set by law.
Work on the revaluation/recertification projects in all the towns has already begun and the projects are expected to be completed by mid to late fall, according to the press release.
For more information contact the assessors’ office in each town: Aquinnah 645-2306, Edgartown 627-6140, Oak Bluffs 693-3554, Tisbury 696-4206, Chilmark 645-2102, and West Tisbury 696-0101.