CITY OF FALL RIVER BOARD OF ASSESSORS 508-324-2300 Under Massachusetts General Laws Chapter 59, Section 38 the Board of Assessors must assess all property, real and personal, at full and fair cash value. These values are used as the basis of the local property tax. In the Commonwealth of Massachusetts, Cities and Towns operate under an ad valorem tax system. Ad valorem means that all property should be taxed according to value. Every three years there is an examination of all property values. This procedure is called a revaluation. Once completed, the Massachusetts Department of Revenue must certify all values. The Assessing Department of the City of Fall River consists of three part-time Board members and seven full-time employees who maintain the day-to-day operations.