In almost any scenario, the news that one of your assets has appreciated in value is welcome news indeed.

Except one.

The results of the every-third-year statistical revaluation of real estate hit local mailboxes last week, and with a few exceptions, property values went up across town.

“Overall, everyone went up about 15 percent” said tax assessor Michelle DiMeo. Downtown, waterfront and multi-family buildings went up the most. According to DiMeo, the Ferry Road area saw the most dramatic increase, while the smallest increases (or decreases) were at North Farm.

People seem to be taking it in stride. For one, it was certainly not unexpected, given recent real estate sales, the last three years of which have been thoroughly analyzed to come up with the new numbers. That has almost certainly contributed to the fact that Town Hall has not received the expected number of inquiries about the new valuations. “Any time there’s a revaluation, we do anticipate a lot of calls from residents with questions, but we have not gotten as many as we expected,” said DiMeo. “I think the increase was not as large as everyone thought it might be.”

“Everyone’s main concern is that their tax bill will go up, but typically the rate drops in a reval year because overall, the value of the real estate has increased,” said DiMeo. While the new rate will be determined in the course of the ongoing budget hearings, the proposed budget includes a preliminary rate of $13.12 per $1,000 in value, down from $14.38 in 2021. That number will be finalized in June.

Here are a selection of properties around town and their new assessed values and the change over or under the last value. For more information, visit nereval.com.

35 Church St.
$735,000
+$114,900 (19%)

137 Ferry Road
$2,487,900
+$621,700 (33%)

100 Windward Ln.
$284,600
-$200 (0%)

55 Mulberry Rd.
$254,300
-$31,900 (11%)

86 State St.
$701,000
+$139,800 (25%)

9 Church Cove Rd.
$1,441,900
+$364,000 (34%)

17 Jennifer Dr.
$311,100
+$36,700 (13%)