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Board of Assessors Meeting Page <br /> Areas in Need of Assessment Chan continued <br /> Raw Land (continued) <br /> David Bailey informed Board Members that what the Appraisers <br /> are doing is a subdivision buildout scenario on their appraisals . <br /> He explained as follows <br /> If someone were to buy a particular parcel of land and <br /> subdivide it, how much could he/she pair for it The <br /> Appraisers assure a certain number of lots are being sold at <br /> $35 , 000 over a five year sellout period, and the financing <br />' over this period of time must be assured as well as the road <br /> costs , etc. When this formula is applied to Mashpee land, <br /> there are probably not many R5 or R3 parcels that are worth <br /> buying because there is no worthwhile profit. <br /> If someone can sell a lot for $30 , 000 , who is going to tie <br /> up money for fere years for a 30 lot subdivision-..' The <br /> "threshold" of the Cape Cod Commission is 29 lots . The <br /> acreage price at which the Appraisers arrive is $2 , 000 to <br /> $3 , 000 per acre. Except for land-locked parcels , nobody is <br /> going to sell their land for that low amount <br /> Leslie Greig initiated lengthy discussion. He made <br /> comment that he did not have the opportunity to review a recent <br /> land appraisal report. Mr. Bailey explained that parcel was a <br /> poor piece of lana located in the back woods near the Quashnet <br /> River ' on the Falmouth Town Line - no frontage on an unimproved <br /> road - a long distance to bring in utilities . However , Mashpee <br /> has many parcels of lana similar to the subject property - <br /> being assessed at $6 , 000 an acre , which is low. <br /> David Bailey stated that he would research this issue and <br /> present his findings to The Board; then, The Board should be able <br /> to rale a decision whether to wait for the sales figures . He <br /> expressed opinion that taxpayers are not going to contest these <br />' <br /> particular land assessments when they have knowledge that the <br /> Federal Government is shopping for land; and, if these taxpayers <br /> are doing to hold out, he -would like to find out ghat they come <br /> u with for evidence . He pointed out that this issue is a real <br /> uandry -- he does not want Assessing to 9-et stud with ssiv <br /> abatements , yet he does not want to " jump the gun" and lower the <br /> assessments too .fast. He stated that he will find out just what <br /> Assessing ' s exposure is on this ratter. <br /> David Bailey enumerated the specific points that The Board <br /> will be faced with: will we raise any areas? or will we just <br /> M <br /> I <br /> I <br />