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Jason Streebel, Director of Assessmng, addressed the Committee regarding Article 2. The <br /> Article is to exempt personal property with an assessed value of Ten Thousand $10,000.00) <br /> Dollars and 00/100 or less. This tax is the number one reason why town halls get complaints <br /> regarding taxes. It has been implemented in other Towns, and will save money in printing <br /> and mailing costs. Per vice-Chairman Gasior's request, Mr. Streebel provided background <br /> on how the tax is calculated. The personal property tax, instituted in 1820, is on either the <br /> contents of a home (not a d rnicile),or on the contents of a business, unless exempt. Oskar <br /> Klenert inquired about how the valuations are determined, and Mr. Streebel responded that <br /> assessors cannot get into every hone and determine a value, so they rely on the homeowners <br /> ners <br /> for valid information, or conduct a personal property study which is required by the <br /> Department of Revenue. There is a relationship between property, and personal property in <br /> homes, and a lower value ratio on endiiurris. Commercial figures come from an actual <br /> collection, and in field studies. Chris Avis inquired about the projected tax rate in 201 o and <br /> expressed concern about the amount of revenue that could potentially be lost over time as a <br /> result of the Article. <br /> Bob Hutchinson inquired about the timing of the new tax rate(retroactive to July), and the <br /> budget. November 17, 2008 is Mr. Streebel's projected slate for the classification hearing a <br /> couple weeks earlier than last year). Chairman Lindsey offered Chairman Paul Andrews an <br /> opportunity to address the Committee, but he politely declined. <br /> Vice Chairman Chuck Gasior moved to approve,Article 20 Bob Hutchinson seconded. <br /> in favor, 1 opposed. Chris Avis opposed. <br /> ARTICLE 3. The Finance Committee recommends Town Meeting A pr val of Article 3. <br /> Vice Chairman Chuck Gasior moved to approve Article 3. Bob Hutchinson seconded. <br /> All In favor. leo discussion. <br /> ARTICLE 13. The Finance Committee recommends Town Meeting Approval of Article 13. <br /> Vice Chairman Chuck Gasior moved to aiDprove Article 13. Chris Avis seconded. All <br /> in favor. Where was further discussion reizarding the o anizational re-structure within <br /> the Town. <br /> AR'T'ICLE 4. The Finance Committee recommends Town Meeting Approval of Article 4. <br /> Flee Chairman Chuck Gasior moved to aviDrove Article 4. Chris Avis seconded. All in <br /> favor* No discussion <br /> AR'T'ICLE 5. The Finance Committee reconnnends Town Meeting Opposition of Article 5. <br /> chairman Lindse-y moved to aRprove Article 5 for discussion. vice Chairman Gasior <br /> seconded. Chairman Linds moved to approve Article 5. Oskar Klenert seconded. <br /> Bob Hutchinson opposed. Chuck Gasior oviDosed. Chris Avis ORROsed. Lynda Carroll <br /> opposed. 2 in favor, opposed. <br /> 11/13/2008 2 <br /> i <br />