The Assessors Department is required by Massachusetts Law to list and value all real and personal property. Valuation is subject to ad valorem taxation which requires the Assessors to tax property according to value. Assessed values in Massachusetts are based on "full and fair cash value", or 100% of the fair market value.
Assessors are required to submit these values to the Commonwealth of Massachusetts Department of Revenue for certification every 3 years; The Assessors review property values in interim years as well. This allows taxpayers to pay his or her fair share of the cost of local government in proportion to the amount of money the property is worth annually rather than every 3 years
The Cohasset Assessors' Office must assess approximately 3,200 parcels of real property, 175 personal property accounts, 7,000 motor vehicle excise accounts, and 400 boat excise accounts