What is Proposition 2 ½?

Proposition 2 ½ is a State law that places constraints on the amount of real and personal property taxes that the Town is allowed to raise in any given Fiscal Year. The amount of tax dollars, or levy, allowed under Proposition 2 ½ is called the "levy limit". The levy limit is determined by multiplying the previous year's limit by 2 ½ percent, and adding to that the tax dollars generated from any new construction within the Town that is not the result of property revaluation. The levy limit under Proposition 2 ½ may be exceeded only by the Town's approval of a debt exclusion or override. A debt exclusion allows the Town to exceed the levy limit only for the life of the debt, i.e., the terms of the borrowing, while an override is a permanent increase in the levy limit.

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1. How does the Town of Upton Determines Property Value?
2. I recently applied for a Refinance or Home-Equity line. Why was the bank assessment different than the town assessment?
3. What if I disagree with my new property assessment?
4. What should be included when completing an abatement form?
5. What if I am not sure and have trouble completing the form?
6. How can I tell if my value is correct?
7. What about land values?
8. Why can similar properties have different values?
9. How are properties assessed?
10. Will my tax bill go up?
11. How are tax rates set?
12. If values went down why did the rate and tax bill increase?
13. What types of exemptions are available to me to reduce my tax burden?
14. What remedies are available to me if the Assessor denies my abatement application and I am aggrieved by this decision?
15. What if I disagree with the assessment of my property?
16. Am I required to allow the Assessor to inspect my property?
17. How do the Assessors determine the value of my property?
18. What is Proposition 2 ½?
19. What does the Assessing Department do?
20. What does the Assessing Department not do?