10/12/2001 BOARD OF ASSESSORS Minutes

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t Town of Mashpee Board of Assessors Meeting DATE: Friday, October '1 2. 2001 TIME: 3:00 PM PLACE: Mashpee Town Hall, Assessors Office ATTENDEES: Marcia ling, Chairman Les Greig, Vice Chairman Dave Bailey, Director of Assessing Ina Schlobohm, Recording Secretary Chairperson Marcia King called the meeting to order at 3:10 PM. Minutes from the 8103/01 meeting were approved. Dave Bailey n reported that the revaluation of residential properties has beecompleted. The Department of Revenue has approved the report submitted. The commercial revaluation is still not completed, due to some staffing problems Down-cape. ]� The revaluation was based this year on property sales, not land sales, which is the reverse of what has been done in the past. Statistics of The Town of Mashpee Revaluation changes: Single Family Homes: Close to 80%increase in.assessment value (approximate) Condominiums: 50% increase in assessment value(approximate) Town of Mashpee: 80% increase in assessment value or over 1 billion dollar increase in tax revenue (approximate) Land values in Mashpee have almost doublets since the last revaluation. The low end of property value ownerships will be the most affected and, unfortunately, are lust able to afford it. copies of the Ratio Analysis Summary reports for condominium properties(Sheet 1020) and for residential properties {Sheet 101 were distributed to the Board, and will be attached to the Assessors Office copy of these minutes. Findings from the assessment revaluation will be published in the local paper, and posted in the library as well as on the website. Whether r or not to mail notices of new assessments to nonresident property owners was discussed. At a cost of , it was the concensus of the Board not to undertake such a mailing. i abatement applications will be a requirement that the property owner identify three properties Along with i pp that match his/her assessment. The Assessors office wi11 also have three matching properties as backup to the new assessment. Tax bills will have an overall assessment, not land and property broken out separately. Dave Bailey will attend the Selectmen's meeting on Noonday, Oct. 15 to present the assessment revaluation summary findings. The LA 3 dales Report for the calendar year 20GO for the Board-of Assessors was approved/signed off by Marcia ling and ties tri g. The meeting was adjourned by chairperson Marcia ]ung at 4-15 P . Respectfully ctfully submit ed, Ina 2cobohm Recording Secretary '1