7/9/1996 BOARD OF ASSESSORS Minutes

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Board of Assessors Meeting Page Adjustment to the 17D Exem tion (continued) [upon question f r vice Chairman Porter, both chairman Greig and David Bailey informed that acceptance by Town Meeting must be obtained unless the number of exemptions is few and the collar amount is minimal ; jThe Town absorbs 100% of the expenditure, Mr, Bailey informed there may be thirty or more exemptions , but not hundreds - he has an upcoming Assessors ' meeting and will check on this matter. NEW/OLD BUSINESS: The overlay Reserve Chairman Greig introduced lengthy discussion. Both Marcia King and David Bailey expressed hope that the tax rate will be lowered. Mr. Bailey pointed out that a possible tax increase of 10 - 12 will trigger an enormous amount of abatement applications . Be had discussion with Mr. Whritenour, who informed that he will bring up all of these funds to all pertinent Boards . . . he will just put thea on the table and say "this is our capital plan, etc. . . . where do you want to put it" . He promised David that he woul.d not try to hide 1t. David Bailey made reference to a draft of a letter he prepared -dated July 3 , 1996 concerning the Board of Assessors ' net surplus, in combined overlay accounts of approximately $900 , 000 . (Copy of the draft is attached to These Minutes . ) He gave reason for the second paragraph; he wants to make aware that approximately $1, 600 ,000 is the actual balance, but $700 ,000 of that was appropriated for uncollected takes . not abatement applications. Mr. Bailey verified Nis, ding ' s statement that it is the Tax Collector ' s responsibility to transfer the funds from that account to tax title, even though it is Assessing ' s money. 1e cannot do anythi g with that •account while outstanding balances exist . . . a great Ileal is Personal Property that will never be collected and will have to be written off . David Bailey informed Board Members that he will word the letter any way they wish; we do not have to mention the $1 , 600,000 - we could state that there will be additional funds as un c l.l.ected taxes are transferred to tax title. Lively discussion followed. Chairman Greig expressed concern that, as a taxpayer, the funds may not be used appropriately if the letter is prepared too soon. Marcia King expressed the same concern; she pointed out the many unresolved contracts and other issues . David Badley stated there is no reason to prepare the letter now we can