Real Estate and Personal Property taxes are a source of revenue for all cities and towns in the Commonwealth of Massachusetts. They are assessed for a fiscal year, which runs from July 1st of one year to June 30th of the succeeding year.
The tax rate is determined by dividing the net appropriations raised at town meeting by the taxable valuation of the Town. This rate is defined on a per thousand dollar basis and is then multiplied by the assessed full and fair valuation of property.
Voters in Dover chose to issue tax bills four times a year. The first two payments (Preliminary Bills), which are due on August 1st and November 1st, reflect one quarter of the net taxes paid in the previous fiscal year and, by statute, may be increased by 2.5% annually. In November, property valuations are finalized and the tax rate is calculated.
The final two payments (Actual Bills) are determined by subtracting the preliminary payments from the total taxes and dividing by two. These bills are due on February 1st and May 1st.