The Board of Assessors is a three member elected board, each member being elected on alternate years for a three-year term. The Board meets regularly. Meetings are open to the public and are held in the Town Hall. The Board of Assessors is required by Massachusetts Law to list and value all real and personal property on an annual basis. Valuation is subject to ad valorem taxation. Therefore, assessed values in Massachusetts are based on a full and fair cash value, or 100% of the fair market value. The Assessing office consists of three full-time employees: an Assistant Assessor
and two Administrative Secretaries.
On a triennial basis the Assessors are required to submit Tisbury's assessment to the Department of Revenue (DOR) for certification. In the years between certification, assessors must also adjust values based on market sales. This is done so that the property taxpayer pays his or her fair share of the cost of local government in proportion to the amount of money the property is worth on a yearly basis.