UPDATED june 2018
Beware of Personal Property Taxes in Massachusetts
The Massachusetts Fiscal Year 2019 commences on July 1, 2018 and runs until June 30, 2019. The assessing or valuation date for Fiscal Year 2019 is January 1, 2018. In most cases the actual tax bills to which appeal rights accrue will be sent out at the end of 2018. In general, all property whether real or personal is alleged to be assessed at 100% of fair market value. Massachusetts has a labyrinth of laws concerning the taxability of personal property. There are many scenarios where certain types of personal property are exempt from local taxation. This is particularly true when the owner of the personal property is a corporation. If you receive a personal property tax bill it is advisable to consult a property tax attorney regarding the taxability of your property. The local assessors have been known to tax personal property that is clearly exempt from local taxation.
David G. Saliba
Saliba & Saliba
American Property Tax Counsel (APTC)