The Fiscal Year 2014 property assessments have been finalized.
In accordance with state law, this is an estimation of fair market value as of January 1, 2013 (adjusted for ongoing construction to June 30, 2013 only if this is applicable to your home).
The basis of property assessment is actual sales in town from January 1 to December 31, 2012. During this period, the selling prices of homes in Wayland began to show a slight increase.
This website contains several documents:
1) Fiscal Year 2014 Assessment Information outlines the valuation model and how to read your property record card.
2) Fiscal Year 2014 Single Family Assessments and Fiscal Year 2014 Residential Condominium Assessments are spreadsheets with the Final Fiscal Year 2014 Assessed Value by location.
3) 2012 Arms Length Sales is a spreadsheet of sales that occured during the 2012 calendar year.
There are over 4,700 homes in Wayland and in 2012 there were 215 homes sold in arm’s length transactions. Using mass appraisal methodology, information from these sales was applied to the data maintained on every property to estimate each property’s fair market value. The property data includes the location, lot size, building area, construction style, age and condition, and any unusual characteristics that may affect a property’s value.
Each Property Record Card is updated through systematic inspections and whenever new construction, expansions or renovations occur. The goal is to accurately assess all properties in Wayland to ensure that the town’s annual expenses are borne equitably.
If you have any questions regarding the assessed value of your property please contact the office at 508-358-3788.