Initial estimates show slight increase in property values

The state Department of Assessments and Taxation delivered the initial estimates of Worcester’s taxable assessable base last Thursday, nearly two weeks late and showing the county regained some of the ground lost during the 2008 meltdown.

“The takeaway is that it was positive and that’s huge,” County Treasurer Phil Thompson said.

The full year real property base estimate for Worcester County in fiscal 2016 is about $14.7 billion, up from about $14.5 billion according to last year’s final projections. The department releases reports in November and March each year to aid local governments develop their budgets. The final tallies aren’t known until the money is actually collected and that number audited independently.

The assessment increase, taxed at the current rate, would generate about $1.67 million in new revenue. In terms of Worcester County’s budget of about $190 million, it’s a drop in the bucket, but it’s also not a loss.

More