TOWN OF NATICK Housing Production Plan

unavailable for FY1990 and FY1991), and Natick has been higher than the average tax bill in
Massachusetts since FY1990.
Figure 10
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Average Single Family Tax Bill
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Source: Massachusetts Department of Revenue
Natick
Dover
Framingham
Sherborn
Wayland
Wellesley
Weston
Massachusetts
Affordable Housing Real Estate Tax Rate
All affordable units that are recorded through the DHCD LIP process, or are legally recognized
as affordable before the issuance of a Certificate of Occupancy are appraised at an affordable
value. There is some additional paperwork required in the event that a market rate unit is
converted to an affordable unit and is a common practice among Massachusetts communities.
This occurred for the onsite units at Nouvelle Natick, Natick Green, Natick Village and
Deerfield Forest and required buyers of affordable units to file for a real estate tax abatement for
their affordable home because the Town of Natick had previously assessed their units at full
market price since no affordable deed rider was in place at the time of assessment. That means
that buyers who close on affordable units early in the calendar year have to pay market rate real
estate taxes throughout the year. It also means that at closing, they have to provide tax escrow
funds based on market-rate taxes. This is a burden to buyers that have purchased units that
were previously designated market rate and were converted to affordable (Engler, 2012). It is
our understanding that this policy has been in place since February 10, 2009.
The following is an excerpt taken from a tax abatement form created for this specific purpose:
“An affordable homeowner is required to provide the town with a copy of the recorded deed
with the deed restriction attached to reduce the assessment. If the property has been assessed at
full value as of January 1 st , the taxes due will reflect the full and fair market value. If the
property is a deed restricted property, the new owner must file the request for adjustment
within thirty days of the recorded transfer. The process will adjust the value of the property to
the purchase price of the restricted property. The tax dollar adjustment will be applied to the
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