"Beyond the Market" with Gaelen Trombley, Associate Real Estate Broker
- Jodi Brunner
- Jul 6
- 3 min read
How Property Assessments Actually Work (For Grown-Ups Who Pay Too Much Already)
Preamble: Reassessments always cause my phone to ring from upset homeowners who think the town is screwing them over. But most homeowners don't understand how they work. Before ranting on Facebook or screaming at the Assessor, you need to know 4 numbers: Your assessed value, the total community assessed value, the tax levy, and the tax rate. Now lets begin...
Ah, the joys of homeownership. You fix the leaky faucet, mow the lawn, and then—surprise!—the town tells you your home is suddenly worth way more than it was last year. Hooray?
Here’s how assessments, tax levies, and tax rates actually work—without the government PC tone.
Step 1: The Assessment Every so often, the town reassesses your property. This means they estimate what your home would sell for today—not what you paid, not what Zillow says, and definitely not what your neighbor guessed over the fence. They look at your square footage, improvements, recent sales nearby, and sometimes drive by (slowly, like tax-season ninjas).
Step 2: The Tax Levy The town, schools, and other local services figure out how much money they need to function for the year. That number is called the tax levy. It’s the total amount they need from all property owners combined. This number is voted on or set by budgets—not by your home’s value.
Step 3: The Math To split the bill, the town takes the total value of all assessed properties and divides the levy by that. That’s how they get the tax rate. Let’s take a look (sorry if you hate math!):
Levy ÷ Total Assessed Value = Tax Rate Then: Your Assessed Value × Tax Rate = Your Tax Bill
So if your home’s value jumps more than others, your slice of the tax pie gets bigger—even if the pie didn’t.
Step 4: Why Your Taxes Go Up Contrary to popular belief, assessments don’t raise taxes. Spending does. The assessment just decides how big your share is. If the town needs the same amount of money but your home is now “worth” more, congrats—you’re helping fund the firetruck.
Can You Appeal It? Yes. It’s called grieving your assessment. That’s where you say, politely: “Dear town, I love my home, but it’s not that nice. Please stop taxing me like I live in a castle, and not next to a Dunkin.” If successful, your value (and taxes) may go down. But they may just laugh and shoo you away.
Bottom Line: Assessments don’t control how much the town collects—they decide how it’s divided. If you’re paying more, it’s not because the assessor singled you out. It’s because the budget stayed the same, and your home’s value rose faster than average. It’s not personal. It’s math. With a side of mystery.
Important Notes: The Assessor doesn't enter your property. So the newly finished basement or remodeled kitchen will remain a mystery. Your assessment is not your potential sale price if you sold, even if it’s declared 100% of value per the Assessor. Sale value is based on supply and demand, not a black and white figure on a sheet of paper. Always consult with a Real Estate professional before selling.
Gaelan Trombley is an Associate Real Estate Broker with Kavanaugh Realty and host of The Gaelan Trombley Show, a long-form podcast with guests across various fields.
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