Martha's Vineyard property values increased this year, topping $20 billion in total assessed value, according to figures from the six towns and the Massachusetts Department of Revenue (DOR).
Assessed values were recently re-certified by the DOR, as it does every three years. The new numbers reflect rising real estate prices on the Vineyard.
Edgartown leads all Island towns in total assessed value, with $8.25 billion worth of property, an increase of more than $457 million, or 5.7 per cent, over the previous year. This jump follows an increase of $528 million in total assessed values two years ago, or a rise of nearly a billion dollars in just 24 months.
The increases make Edgartown the 17th most valuable city or town in Massachusetts in terms of residential property value, ranking close behind many of the commonwealth’s major cities and wealthiest suburbs, according to the DOR. See the full article in the Vineyard Gazette.