To arrive at full and fair cash value for your property through mass appraisal, the assessors must know what willing sellers and willing buyers are doing in the Rockland sales market. The Assessors must collect and analyze a great deal of information about property and market characteristics in order to estimate the fair market value. The Assessors must￼ analyze sales and sales trends occurring in the Town of Rockland each year in accordance with Massachusetts Department of Revenue guidelines. Three standardized appraisal approaches to value are used: market, cost and income. The data is then correlated into a final value.
The object of the valuation program is to estimate reasonable cash value as of January 1 (known as the “assessment date”) prior to the fiscal year. For example, the assessment date for Fiscal Year 2012 is January 1, 2011. Therefore, sales of calendar 2010 are used in the fiscal year 2012 analysis to determine full and fair cash value.