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3 <br /> Board of Selectmen <br /> Minutes <br /> November 16,2015 <br /> APPOINTMENTS.&HEARINGS: <br /> Public Hegdpa, Tax jKate Reclassification—Town Assessor Jason Streebel: <br /> Motion made by Selectman Gottlieb to open the Tag Reclassification Hearing. <br /> Motion seconded by Selectman Cotton. <br /> VOTE: Unanimous. 5-0. <br /> Roll Call Vote: <br /> Selectman Cahalane,yes Selectman Sherman,yes <br /> Selectman Gottlieb,yes Selectman O'Hara,yes <br /> Selectman Cotton,yes Opposed,none <br /> The Hearing will decide whether the Town of Mashpee should implement the Classification Act. At <br /> the Hearing,the Board of Selectmen will hear testimony as to what will be the Fiscal Year 2016 <br /> residential factor,which will determine the share of taxes each classification of property will pay, <br /> what will be the open space factor, and whether there will be a residential exemption and/or a small <br /> business exemption. <br /> Jason Streebel,Director of Assessing was in attendance to facilitate the Tax Rate Classification <br /> hearing. It was explained a shift between the categories of properties would result in a greater share <br /> of the tax burden being placed on commercial,industrial and personal property while reducing the <br /> rate of residential properties. <br /> Additionally, if there would be a residential exemption of up to 20%for Mashpee residents, it is <br /> likely that a lead time of one year be given to the Assessing Department before the exemption could <br /> be adopted at the following year's classification hearing. Lastly,under consideration is whether the <br /> Town should adopt a small commercial exemption of up to 10%. <br /> After review of the information,it is the recommendation of the Board of Assessors to continue to <br /> recommend that a single tax rate be adopted with no residential exemption, and no small business <br /> exemption. <br /> Mr. Streebel indicated the real estate market is up significantly; 4.2%over last year. The total value <br /> of the Town of Mashpee is$4.765 billion. <br /> The single tax rate is proposed at$9.08 per$1,000 valuation. The rate is down by$0.3 cents from <br /> last year. The Water District rate$0.18 cents per$1,000. The average single home is assessed at <br /> $468,148. <br /> Being no comment,the Board motioned to close the Public Hearing. <br />