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October 6, 2020 8:00 AM

FY2021 Property Values Available for Review in Malden

The Malden Board of Assessors has received preliminary certification of fiscal year 2021 assessed valuations from the Massachusetts Department of Revenue.
The periodic update of values ensures that all property is assessed at full and fair market value as of January 1, 2020.
The revaluation requires the verification and analysis, of arms-length transactions from calendar year 2019 in valuing Malden’s single-family and condominium homes. Sales from calendar years 2018 and 2019 were used to value apartments, vacant land, commercial, and industrial properties. An analysis of market trends for various property types indicated a need to adjust valuations to different degrees. Overall, average single-family home values changed approximately 5 percent. Condominiums as a class saw valuations increase around 2 percent with several developments showing higher increases. Apartments as a residential sub-class will be increasing approximately 6 percent. Commercial and industrial classes will be increasing 3 and 6 percent, respectively. Individual parcel valuations may vary from the class average due to data updates and corrections, new construction, and the effects of market trends on their specific characteristics.

Interested parties may examine new proposed values on a list published on the Assessors website. If you wish to review and discuss your proposed assessment with an Assessor prior to values being finalized, you may do so during a Public Disclosure period that extends from October 6, 2020 to October 20, 2020. Property assessment records may be requested by calling the Assessors’ office at 781-397-7100 during business hours, or by e-mail at ncramer@cityofmalden.org. Valuations are anticipated to be finalized on or around October 27, 2020.


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