11/8/1994 BOARD OF ASSESSORS Minutes

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I 4 I I I Board of Possessors Meeting Page 2 I Minutes of The Meeting of October -1,L' , 1994 continued Vice Chairman DeLory made motion The Board accept The Minutes of The Meeting of - be-r '11 ,, 1994 as printed; Leslie Greig. made second the motion; motion passed- unanimous decision. The Minutes were accepted by The Board. OLD BUSINESS: I j Areas in Deed of Assessment Chan es Raw Land Leslie Greig initiated discussion. He noted in the Incoming Correspondenne some prices of raw land/agricultural. David Bailey explained that Mr . Tack Miley had sent the data - onl.y three sales , one of which was a family sale. Mr. Kiley was formerly a Falmouth Assessor and is now an appraiser . Mr. Bailey has talked with Assessors all over the Upper Cape - everyone is stretching to find raw land sales * ,0� . Greig questioned what will now happen to Mr. Bvck Chase ' s parcel if what he heard is true concerning Mr. Chase ' s reluctance to having it taken by eminent domain . David Bailey stated he does not know what will happen; he was discussing this issue with the Grater District when It had determined the appraisal on the Morgana property. David Bailey informed Board Members that the frightening bottom line on the interior l nd is $3 , 000 per acre which the . Town has assessed at $6 , 000 per acre- his main concern i is Assessing ' s exposure for abatements - about which he does not feel too strongly. Be realizes that owners cannot sell these kinds of parcels for much more than $3 , 000 per acre in the immediate future; he also realizes that owners will not sell at this low price - that is the q u ndr ! ! The subject appraisal , which is a good appraisal. , is a realistic fair market value. The only way to obtain more money is to speculate on the future - five years from now the land may be worth two to three tines the current value, so today it is worth $5 , 000 per acne to owners as an investment. This is the reason that owners are holding onto these parcels . Leslie Greig expressed opinion that owners have even more reason now to hold on because of their knowledge that the Fish and Wildlife Agency is shopping for land. Chairman Porter stated that these kinds of parcels are a limited commodity.