Single-Family Home Values, Condo Conversions on the Rise in Somerville
Assessed values on single-family homes are rising across the city, and there's a mini-boom in condo conversions, according to the city's chief tax assessor.
If you own a single-family home in Somerville—and about 2,361 of you do—the assessed value of your home is likely going up, according to Marc Levye, Somerville's chief assessor. Levye spoke to the Somerville Board of Aldermen on Nov. 20 about property taxes for fiscal-year 2013. "Generally speaking, citywide, folks that own a single-family home are going to see a valuation increase. That is across the board," Levye said. One of the reasons is that tax assessors, when valuing properties, take into consideration sale prices over previous years, Levye explained. In recent years, those records included home sales from 2009, which was a low point in the real estate market. However, "Calendar [year] '09 is no longer in the time period that we're…
John Murray
7:55 am on Thursday, December 20, 2012
I could accept a property tax increase in Winter Hill if the Mayor invested Somervile's taxes into Winter Hill development. I pay the same property taxes as homeowners in Davis Sq. and Union Square but Winter hill continues to be neglected by the mayor and Board of Alderman. Drive up Brosdway and look at the dumpy signage and tell me if anybody feels like stopping and shopping in Winter Hill. more ›