FY21 Valuations
Holliston Assessors have received the go-ahead from the
state to release preliminary FY21
certified values.
Communities are subject to
an exhaustive review and audit
by the Department of Revenue
every five years, and 2020 for
fiscal year 2021 is Holliston’s
year. During interim years the
assessors continue to review the
market through sales (primary
residential) and income information (Commercial Industrial).
Value is established each January
1 based on market information
from the prior year. This year’s
values are for Fiscal Year 2021
and based on market data from
2019.
During COVID the real estate market has been incredibly
robust. Forbes (https://fortune.
com/2020/10/20/real-estatecoronavirus-pandemic-homebuying-zillow-redfin) attributes
this to individuals now working
at home wanting to establish first
homes in the suburbs. The 2020
market is what we will analyze in
respect to the Fiscal Year 2022
real estate billing. It should be interesting to see how it trends out
for FY22.
In relation to fiscal year 2021
and the 2019 market in Holliston, Value Analysis for residential values was based on 147 valid
single family house sales between
Jan 1-Dec 31 2019. Analysis
was also done on condominium,
multi families, and land sales.
Based on the 147 valid single
family home sales, Holliston’s average sale price was $575,800.
The average increases in
Town assessments from FY20 to
FY21, excluding permit growth
by use, are as follows:
single families: 5%
residential condominiums: 5%
multi families: 4%
commercial: 3%
Industrial: 2%
Some residential neighborhoods saw greater or lesser value
impacts than average percentage changes. Mostly attributed
to the market or growth. Sales
are stratified for analysis by style,
size, condition, quality of construction, or neighborhood. The
goal of applying value is to apply
change from the market in a uni