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Board of Assessors Meeting Page 2 <br /> Update b David Bailey - Review of Prospective Assessment <br /> Changes for FY1997 - continued <br /> Chairman Greig pointed out that all of the- Mat a shop i <br /> Village sales are higher than the assessments. David Bailey <br /> explained that these values had a dramatic decrease starting in <br /> 1991 , but in the last 12 months the ratios have not changed that <br /> much in the development. However, some areas that include the <br /> nicer units closer to the water or with better views have <br /> increased in value. [Upon question from vice Chairman Porter, Mr. <br /> Balley informed that there is a $400 Thousand sale down near the <br /> water. <br /> David Bailey also informed that santuit .Pond Waterfront <br /> values are increasing after a huge drop of about o over <br /> several. years. <br /> Mr. Bailey informed that the biggest change will be in <br /> WillowBend the entire development will probably 9-o up about <br /> 20% , Marcia King initiated lengthy discussion about values of <br /> other neighborhoods near the golf course. David Bailey pointed <br /> out that areas abutting will be affected; he is not sure how <br /> areas away from the golf course will be affected. Ms . King mace <br /> comment that a house in her neighborhood not far from Wi l.lowBend <br /> is for sale at $297 Thousand assessment is $147 Thousand. <br /> Mr . Bailey expressed feeling that until he sees some sales , he is <br /> not ready for legal battle. <br /> Mr. Bailey also informed that the willowBend facility <br /> itself will not go up in value, but the development land value <br /> will be increased. Because this is a private golf course,, he is <br /> inexperienced and waiting for data being researched; he feels his <br /> estimate of $15- Million for the golf course is fairly accurate. <br /> He also feels some of the development land will be pint into <br /> recreational use once the developers finalize their plans. <br /> David Bailey informed that cotuit Bay Condominium <br /> values will increase . . '. they have gone up and down during the <br /> past several years; Quashnet valley Condominium values will <br /> increase a little; . sandpiper Condominium values will increase <br /> quite a bit about 1. Wind Chine Condominium values wi11 <br /> also increase significantly a a . about 20 . All of these <br /> increases will take the values where most once were and where ' <br /> they should be. Upon question from Chairman Greig concerning <br /> Sandpiper, Mr. Bailey informed that at least one unit has sold <br /> higher than assessment since the Ninety-Nine restaurant was <br /> built. Marcia ding informed that three units sold at around $60 <br /> Thousand; all were assessed at $52 , 100 . <br />