Real Estate FAQs
1. What are the current tax rates?
The tax rates for Fiscal 2024 are as follows: (per thousand)
$ 13.44 - Residential
$ 26.59 - Commercial, Industrial and Personal Property
2. At what ratio is property assessed?
Property is assessed at 100% of full and fair cash value.
3. What does 100% of full and fair cash value mean?
The courts have defined this phrase to mean "current market value", the price arrived at by a willing buyer and a willing seller, each with a good knowledge of the market and each acting without undue pressure or compulsion. Thus, in determining value, assessors seek to approximate what property would sell for on the open market, within an acceptable range of error.
4. How do I change my mailing address for tax billing?
Please contact the Assessor's Office for changes.
5. When do I file for overvaluation abatement?
You must file between January 1 and February 1 of the tax year.
However, you should ask yourself three questions before filing for an abatement:
- Is the data on my property correct?
- Is my value in line with others on my street?
- Is my value in line with recent sale prices in my neighborhood of properties that are sold in the calendar year (the Fiscal Year Assessed Value represents the real estate market as of January 1 of the previous year.)?
The Revaluation staff will be happy to assist you to determine whether your assessment is fair and equitable. Please contact the Assessor's Office.
6. Where do I file an abatement application?
You can file an application with the Assessor's Main Office in Town Hall, 50 N. Franklin Street, Holbrook, MA 01608.
7. When are real property tax bills mailed and payments due?
Tax bills are mailed twice per year, with each bill covering two quarters. The quarterly tax payments are due on the following dates: August 1st; November 1st; February 1st; May 1st.
The bills are sent thirty (30) days prior to these due dates. Payments are due thirty days from the date the tax bill is issued.
8. Where should I mail my real estate tax payment?
If you are submitting your check or money order with your remittance slip, please mail to:
Town of Holbrook
Dept. 3710 – PO Box 4110
Woburn, MA 01888-4110
If you are mailing your check or money order without your remittance slip, please mail to:
Town of Holbrook
Tax Collector
50 N. Franklin St
Holbrook, MA 02343-0424
If you are paying through your financial institution, please utilize the following address:
Town of Holbrook
Tax Collector
50 N. Franklin St
Holbrook, MA 02343-0424
Please make checks payable to: Town of Holbrook. If you do not have a remittance slip, for proper crediting, please write the parcel ID (Map, Block, Lot) on the check and include the property location and owner's name.
9. What should I do in the event I do not receive my bill?
You should request a duplicate tax bill via email or by calling the Treasurer's Office at (781) 767-4316 to request the bill.
10. What happens if I do not pay my tax bill?
Tax payments must be received on or before the due date to avoid interest charges. If payment is not received by the due date, the account will begin to accrue interest at the rate of 14% per annum, computed from the date the bill was due. If the account remains delinquent, a tax lien (a legal claim placed on property for debt) is placed on the property and is recorded with the Norfolk County Registry of Deeds. In addition, the property is placed in the tax title system. A tax lien is the first step in the foreclosure process. All taxes, costs and interest must be paid to prevent foreclosure.
11. What do I need to do if my mortgage company pays the taxes on my property?
If your taxes are escrowed by a bank or mortgage company, you will want to ensure that they make timely payment. Most banks and mortgage companies subscribe to a tax service that will notify them directly of the amount they need to pay for your taxes. However, if you have recently purchased, refinanced, or have a mortgage company that does not subscribe to a tax service, it will be up to you to notify them by forwarding your tax bill to them. DO NOT change your mailing address on your tax bill to be sent directly to the mortgage company. It will impede you from receiving proper notice of unpaid taxes. You may request that your mortgage company receive a duplicate tax bill if necessary by emailing us.
12. Why should I pay interest on a late payment when I never received my tax bill?
Under state law, failure to receive a bill does not affect the validity of the tax or any interest or fines incurred due to late payment(s). It is the responsibility of the taxpayer to secure his/her tax bill when one is not received. You can request a duplicate tax bill via email or by calling the Collector's Office at (781) 767-4316 to request the bill.
13. How can I change the tax bill to my name, after purchasing a parcel of property?
New owners will be automatically updated by the Assessor's Office upon receipt of a copy of the recorded deed from the Registry of Deeds. If the sale is very close to a tax due date, you may call the Treasurer's Office at (781) 767-4316 or email us for a remittance slip to be sent to you. The Collector of Taxes is required by Massachusetts General Law to issue the bill to the assessed owner as of January 1. Therefore, the old owner and the new owner will receive a tax bill until the following January 1.
14. Who is responsible for the taxes if a property is sold after January 1?
Although the tax bill will bear the name of the assessed owner as of January 1, the new owner is responsible for all taxes once the sale of the property is finalized. The amount of tax owed by the old owner is determined at the time of closing and is typically deducted from the selling price. Once this deduction is made, the new owner must pay all bills, as they become due in order to avoid collection actions, including foreclosure. The lawyers assisting each party should already have investigated any outstanding taxes and obtained a Municipal Lien Certificate. Once the agreement is made, the new owner is obligated to pay any outstanding taxes due on the property.
15. What should I do if I recently sold my property, but I am still receiving a tax bill?
In most cases, if the deed has been recorded at least 6 weeks prior to the issue date of the tax bill, the new owner will also receive a copy of the tax bill. If you receive a bill within 6 weeks of the sale, please forward it to the new owner immediately as it is his/her responsibility to make payment.
16. What happens if the check I mail 'bounces'?
If your check is returned due to insufficient funds, the account will have the same status as an 'unpaid' account. You will receive notice from the Collector of Taxes notifying you of the insufficient funds. As provided by law, a penalty charge of $25.00 or 1% of the amount of the check (whichever is greater) will be assessed to your tax account for each bad check received, in addition to any other fees and interest applicable.
17. What happens when a tax bill is paid, but you receive a demand notice for tax not paid, or, you find out that you overpaid?
If you or your mortgage company have paid the tax bill and for some reason you receive a demand notice for non-payment of the tax due, you must provide proof of payment. Please call us at (781) 767-4316 for the requirements.
18. What if I have a credit on my account?
If there is a credit on your account, the payment will be applied to the next bill due.
19. How do I get a municipal lien certificate? How much will it cost and how long does it take?
- $50.00 for land with no buildings and for residential property with 1-3 residences.
- $100.00 for commercial properties and residential properties containing four or more residences.
If you wish to obtain a Municipal Lien Certificate (CML), the following are required: List the Parcel ID (Map, Block and Lot.), owner's name, property location, include the appropriate fee per parcel requested and a self-addressed stamped envelope. Acceptable forms of payment: attorney's check, certified or registered check and cash (if in person). Please allow ten (10) business days for processing. Mail your request to:
Collector of Taxes
Town of Holbrook
50 North Franklin Street
Holbrook, MA 02343
20. Can interest and demand fees be waived?
Interest and demand fees are assessed in accordance with the law. Interest and demand fees will only be waived if there is evidence that a payment was made timely.