Ridgefield Valuation has earned a reputation as one of the leaders in the field of property tax abatement for affordable housing. The valuation of affordable housing is subject to different "rules" than conventional market-based housing. Consequently, we have found that many affordable housing properties are over-assessed, and their owners are paying more than their fair share of property taxes.
We have secured literally millions of dollars in property tax refunds for these properties, including actually cutting some tax bills by more than half! This has helped many of these properties tremendously in meeting the challenges of operating in the black. In the last few years alone, Ridgefield Valuation’s affordable housing clients, many of whom are non-profit organizations, have received over $2.5 million in property tax abatements! We have achieved this success because we understand exactly how affordable housing should be assessed, and have been able to work with assessors throughout the state to ensure that such properties are assessed correctly.
Many organizations which own and manage affordable housing throughout Massachusetts have benefitted from our property tax abatement services, including The Community Builders, Mass. Housing Investment Corp (MHIC), HAP, Inc., Urban Edge Corp., Cornu Management, WinnResidential, Maloney Properties, Nuestra Comunidad, Salem Harbor CDC, First Church in Malden, Bowdoin Apartments Corp., Lorenzo Pitts, Inc., and Tenants Development Corporation.
If you own or manage affordable housing, you owe it to yourself to have your property tax assessment reviewed for overvaluation, to ensure that you are paying the correct amount of property taxes.