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si <br /> BOARD of SELECTMEN Page 2 <br /> r <br /> MINUTES <br /> TUESDAY, DEC EMBER 3., 1991 --, <br /> Selectman Lawrence is in agreement . He suggests to view <br /> this further. There is not much of a difference or a savings <br /> for this year. <br /> The motion was made by selectman Lawrence to adopt the <br /> residential factor of one. The tax rate will remain the- same. <br /> The motion was seconded by selectman Caffyn. The Grote of the Board <br /> is unanimous. The vote is 3-0 . <br /> Residential Exemption: <br /> The residential exemption is a complicated item to implement <br /> reports Mr, Bailey. There is alot of preliminary work involved. <br /> This will not be implemented b fore the tax bills go out this fall . <br /> The intent is to present to the Board of Selectmen the effects of <br /> the residential exemption. If it seems like a good. more, we can <br /> prepare ahead of time for it states fir. Bailey. <br /> The residential exemption can give up to 20%- discount to <br /> owner occupied homes, - Th-e- exemption is paid for within the resident- <br /> ial class by vacant and vacation homes informs Mr. Bailey. It increases <br /> the tax rate for all residential property. <br /> This is often used as a tool to equalize the share when com- <br /> mercial property is not increasing as fast or .it is decreasing <br /> faster states Mr, Bailey. It helps to }peep things on an even keel . <br /> . <br /> Selectman Lawrence recommends to discuss this further in the <br /> 'first part of the- new year. The exemption is not in place to date . <br /> Selectman Caffyn suggests for a wor whop discussion to obtain <br /> a better sense of understanding of the commercial., industrial and <br /> residential properties with the Board of ,Assessors . <br /> David Bailey agrees. The Board of Assessors are willing to <br /> meet with the Board of Selectmen for further discussion. <br /> The exemption would change the residential tax rate informs <br /> Mr. Bailey. It would gine low price properties a break. - The discount <br /> is a flat dollar amount across the board. <br /> There is no benefit without further study states selectman <br /> Lawrence. The Board is in agreement. <br /> The motion was rade by selectman Lawrence not to adopt the <br /> residential. exemption. The motion was seconded by Selectman Cafyn, <br /> The Grote of the Board is unanimous. The Grote is 3-00 <br /> Adjournment : <br /> Being no further discussion, the motion was made by. Selectman <br /> Lawrence to adjourn the meeting at 7 :46 a.m. The motion was seconded <br /> by selectman Caffyn. The vote of the Board is unanimous to adjourn. <br /> The gate is -0. <br /> Respectfully submitted, <br /> Kathleen M, Soares - <br /> Board Secretary <br />