How is my property assessed?

Each year the assessing department conducts a review of sales in Swampscott. Although this information is reviewed and evaluated throughout the year, the bulk of the final analysis is completed in the Fall. The overall guideline for assessing property is 90 to 110 percent assessment to sales ratio. This does not mean that there will be no occurrences of properties outside that guideline. Assessments are based on fair market value. Once the reassessment of properties has been completed, the information is submitted to the Department of Revenue and a classification hearing is held to determine the new tax rate.