Income and Expense

February 3, 2020

Dear Property Owner/Leaseholder:

The Board of Assessors is requesting INCOME AND EXPENSE information on COMMERCIAL, INDUSTRIAL, and APARTENT (residential) properties to determine and maintain equitable assessments for income producing properties. This request is for income and expense information relative to the operation of real estate for calendar year 2019. Returning the 2021 income and expense report is important as it will preserve your rights of appeal and prevent the imposition of a fine as described below. Please return the 2019 information by May 3, 2020.

In addition to the attached form, we have placed the form on the Town website . Every property owner or leaseholder must provide all the requested information. If you are an owner­ occupied property you are still required to respond; the expense information will still be helpful to updating our valuation models. Please be aware that this information will be used only to determine 'market' income and expense levels for commercial and industrial properties and apartments. In accordance with State Law, all the requested information for the forms is held confidentially and is not available to the public for inspection. While it is in the best interest of property owners to contribute to the establishment of fair assessments, Massachusetts Law also requires such disclosure, as quoted below:

Section 38D of Chapter 59

Written Return of Information to Determine Valuation of Real Property

A board of assessors may request the owner or lessee of any real property to make a written return under oath within sixty days containing such information as may reasonably be required by it to determine the actual fair cash valuation of such property.

Failure of an owner or lessee of real property to comply with such request within 60 days after it has been made by the board of assessors shall be automatic grounds for dismissal of a filing at the appellate tax board. The appellate tax board and the county commissioners shall not grant extensions for the purposes of extending the filing requirements unless the applicant was unable to comply with such request for reasons beyond his control or unless he attempted to comply in good faith. If any owner or lessee of real property in a return made under this section makes any statement which he knows to be false in a material particular, such false statement shall bar him from any statutory appeal under this chapter.

If an owner or lessee of Class one, residential (e.g. apartment) property fails to submit the information within the time and in the form prescribed, the owner shall be assessed an additional penalty for the next ensuing tax year in the amount of $50 but only if the board of assessors informed the owner or lessee that failure to submit such information would result in the penalty.

If an owner or lessee of Class Three, commercial or Class Four, industrial property fails to submit the information within the time and in the form prescribed, the owner or lessee shall be assessed an additional penalty for the next ensuing tax year in the amount of $250 but only if the board of assessors informed the owner or lessee that failure to so submit such information would result in the penalty.

Please note that it is the policy of the Bedford Board of Assessors to rigorously apply the penalties and contest the right to appeal as provided by this law, if one were to fail to respond timely and accurately to this information request by May 3, 2020.

If you have any questions about how to fill out these forms, please contact the Assessors Office at (781) 275-0046 or by e-mail [email protected]. We are here to help you comply with this request.

Sincerely, Board of Assessors

Assessing Director