5. HOW CAN MY TAXES INCREASE?
When the people vote additional spending at town meeting, there is the potential for an increase in taxes to occur.
If you were to make improvements to your existing property, for instance: add a garage, add an additional room, the "full and fair cash value" and, therefore, the assessed value would also increase.
When market value increases, the Assessors seek to adjust the assessed values accordingly. In adjusting assessed values the Assessor does not create value. People create value by their transactions in the marketplace. Depending both on the types of shifts in assessed value within the Town and on the actions of the Towns budget producing bodies, this process of keeping assessments in line with the real estate market can result in an increase in taxes.
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