Questions relating to Real Estate and Personal Property Taxes?
When are Real Estate and Personal Property taxes due and what is the penalty for late payment?
Taxes are due quarterly on August 1, November 1, February 1, and May 1. Interest on unpaid amounts accrues at 14%. A demand fee of $5.00 is added to all bills showing a balance due as of May 2.
Why does the previous owner’s name appear on my property tax bill?
The name of the owner at the time of assessment must appear on the property tax bill. The Fiscal Year 2025 bills were assessed as of January 1, 2024 so if you bought the property on any date later than January 1 of 2024, you will see the previous owner’s name on the bill until the next fiscal year begins—in this case July 1, 2025.
What is a Preliminary Bill and why doesn’t it have Assessed Values listed?
The Town’s fiscal year begins on July 1 but the tax rate is not set until the fall. The bills for the first two quarters of the year (due August 1 and November 1) are preliminary amounts based on the previous year’s tax amount. Typically, the tax for each quarter will be 25% of the total tax levied in the previous year. Once the assessed values are certified and the tax rate is set, the actual tax amounts are calculated. The Actual tax bill is issued (in late December) showing the assessed values and the actual tax for the year. The preliminary tax amounts are deducted from the total annual tax and the remaining tax is divided into two quarterly payments (3rd and 4th) due February 1 and May 1.
How are my taxes assessed?
For all questions relating to your tax assessment, please contact the Board of Assessors or refer to the Assessors’ page on the Town website.
Why do I receive a Personal Property bill?
For all questions relating to Personal Property tax assessments, please contact the Board of Assessors or refer to the Assessors’ page on the Town website. Primary residences are exempt from the Personal Property tax. If you believe you have been assessed the tax in error, please contact the Board of Assessors.
My tax bills are paid out of an escrow account. Why is there an outstanding balance due on my Personal Property tax bill?
Financial institutions escrow taxes for Real Estate property bills only. You are responsible for paying the Personal Property bill directly.
My tax bills are paid out of an escrow account. Why do you mail them to me?
State law says the bill must be mailed to the owner of the property. It is in your interest to receive the bill and check it to make sure there are no outstanding balances and that the information is correct. If there is an error on the bill you may wish to apply for an abatement which must be done by February 1. Additionally, there may be a Personal Property bill in the mailing which will not be paid out of your escrow account.
How do I apply for an abatement for my Real Estate or Personal Property tax bill?
Abatement applications are administered by the Office of the Board of Assessors. Applications are due February 1. Please contact the Board of Assessors for more information.
Why is there is a small outstanding balance on my current bill when I paid the total tax amount last quarter?
If the tax payment was received after the due date, interest is assessed at 14%. Payments are posted to interest first and the outstanding tax amount is likely the amount of interest posted to your account. You can access the detailed breakdown of your payment by searching for your bill here
I never received my bill. Why am I being charged interest for late payment?
Under state law, failure to receive a bill does not affect the validity of the tax or any interest or fees incurred due to late payment. It is the responsibility of the taxpayer to secure their tax bill when one is not received.
Tax bills are mailed to the owner and address of record at least 30 days before the due date. It is your responsibility to pay the bill on time even if you did not receive it. Real Estate and Personal Property bills are always due Aug 1, Nov 1, Feb 1 and May 1. If you do not receive your bill in the mail, you can look up the amount due in the online bill search/payment portal by clicking here . You may use this portal to look up your information without having to pay online. If the mailing address on your Real Estate or Personal Property bill is incorrect, please notify the Tax Collector of your address change at [email protected] or PO Box 241, Monterey, MA 01245.
What is the town’s Fiscal Year (FY) and why doesn’t the calendar year 2024 taxes paid amount match the FY 2024 tax bill amount?
The Town’s fiscal year begins July 1 and ends on June 30—Fiscal Year 2025 began on July 1 2024. If you paid your bills on time, the calendar year taxes paid for the year 2024 would typically span the third and fourth quarters of the prior fiscal year taxes (2023) and the first and second quarters of the next fiscal year (2024).
How can I find out how much I paid in taxes in a calendar year?
This information can be found online in the online bill search/bill pay portal here. When you locate your bill, hover over the icons on the right side —the bottom circle is the icon for your Tax Payment History.