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Board of Assessors meeting Page <br /> Salt Waterfront Land Sales <br /> David Bailey informed now that the waterfront is built <br /> out, Mashpee will not have any waterfront land sales in the <br /> future. He explained that in the past j there was not much <br /> concern over the value of many lots in certain expensive areas <br /> because there were land sales and property sales ; the building <br /> value could ' be produced because the land value was known. Now, <br /> in order to arrive at a correct land value, a reverse procedure <br /> will have to be used. Building values will have to be certain in <br /> order to assess the land . . . there are still some vacant lots <br /> to be assessed . 0 . the lots should be up around $800 K. If <br /> building values are correct, the recent sales in Popponesset and <br /> on the Bluff indicate lot values around o - $ o K this <br /> is opposed to around $400 - $500 K at present. <br /> Chairman Greig introduced lengthy discussion. favid <br /> Bailey expressed strong feeling that building values must be very <br /> certain in order to produce correct land assessments in these <br /> expensive areas; otherwise, theme will be many court cases. He <br /> informed that he would like to use the services of Paul Smith, <br /> who wants to do some work and is a former employee of MIT with an <br /> appraisal background. He would contact various builders of "super <br /> deluxe" . houses, obtain contract prices of their recent <br /> construction, break the buildings down into components , and <br /> rebuild Assessing ' s building cost model for "supper deluxe" <br /> r houses. A multi-year analysis of all the waterfront property <br /> should then be done. <br /> David Bailey -informed that his intent is to complete <br /> all of the salt waterfront property before next tax time <br /> the analysis and a field review of all the lots . He expressed <br /> strong concern over certain areas where there have been no sales. <br /> Discussion followed. <br /> NEW/OLD BUSINESS <br /> Informational Guidelines <br /> David Bailey informed that leis . hope is to build up over <br /> time a► series of informational guidelines packets of the most <br /> commonly asked questions . copied on different colors of <br /> paper and available as public information. Chairman Greig <br /> initiated lengthy discussion. He expressed feeling that some of <br /> this data should be incorporated in articles published in the <br /> Enterprise, He spoke with a cablevision person who expressed <br /> willingness to help Assessing will need to prepare data to <br /> submit to him. Mr. Bailey suggested courting up with subjects for <br /> handouts that can also be railed to Property Owners along with <br /> the real estate questionnaire about a recent sale. <br />