When reviewing the previous 15 EQVs, it becomes apparent that changes in values have had their ups and downs. Despite these fluctuations, there has been a 433% increase over 28 years. All four classes of property have seen major increases from the 1994 EQV to the 2022 EQV, with Residential showing the greatest increase and Industrial showing the smallest.
There has been a continuing increase in EQVs for all four property classes over the last four EQVs. Residential continues to represent the most significant change, increasing from $787B in 2014 to $1.3T in 2022.
Reviewing Commercial, Industrial and Personal Property EQVProperty is broken into four separate and distinct classifications. They are residential, commercial, industrial, and personal property. More information on property classification and taxation can be found here. When reviewing EQV broken down by classification, it’s important to acknowledge changes beyond those in the residential class. Commercial EQV has increased 60% from $116B to $186B. Industrial has increased 66% from $31B to $52B. Personal property has increased 63% from $28B to $46B.
The above information came from the MA division local services.
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