What to know about the fiscal year
In Massachusetts, the Fiscal Year commences on July 1 and ends the following June 30. State law requires that all property be assessed at its full market value as of January 1 before the start of the fiscal year.
The ownership, value, and condition of property on January 1 determines an assessment and to whom the tax bill is assessed. New structures, additions, demolitions, improvements, or alterations that occur after January 1 will not be reflected in the assessing record until the following January 1. The only exception is certain exempt property which has a date of determination of July 1.