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� �� `tir'� Town o a ee <br /> 16 Great Neck P%pad North <br /> 4y� <br /> Mashpee, Massachusetts 02649 <br /> h <br /> Town of Mashpee/Mashpee Water District <br /> Classification hearing <br /> November 17, 1997 <br /> Each year <br /> at the, Classification Hearing,the Board of Selectmen and District Commissioners are allowed <br /> to make four choices relating to the manner in which the Town is taxed. <br /> The four choices are as follows: <br /> 1. Split Tax Rate The Selectmen and District Commissioners may choose to tax commercial, <br /> industrial and personal property(C.I.P.)at a rate up to 50%greater than the"normal' unadjusted <br /> tax rate.The increase to C.I.P. properties results in a decrease to residential properties. In the case of <br /> Mashpee for fiscal year 1998,a full 50%increase to C.I.P.reduces the residential rate by 6.2%. In <br /> other words for every $62. saved by residential taxpayers,commercial taxpayers would have to pay <br /> an additional$500. <br /> 2. Small Business Exem tion In order to buffer the impact of a spit tax rate on small businesses <br /> P <br /> there is ap rovision that allows the Selectmen and Commissioners to offer a tax exemption properties <br /> housing businesses with 10 or fewer employees. Approximately half of the businesses in pee <br /> currently qualify <br /> for this exemption.The exemption is a moot point if the tax rate is not split. <br /> d Commissioners may off <br /> er a discount of up to 75%to <br /> 3. Oven Space Discount The Selectmen an <br /> land <br /> identified by the Board <br /> of Assessors as Open Space. The Board of Assessors only classifies property <br /> le l enforceable deed restrictions. Open Space properties in Mashpee <br /> as Open Space when it has g y <br /> are currently assessed at a rate that reflects their marginal marketability. <br /> . - en and Commissioners may elect to offer a tax <br /> 4. Residential Exemption The Board of Selector 'tiles.This <br /> m tion of u to 20%of the average residential property value to all dome <br /> exe p p o rhes and results in an increased tax rate <br /> exern tion is "d for by non-qualifying residential <br /> p residents whose homes are assessed under <br /> for all residential properties but a laver tax far Mashpee <br /> $260,000. exem "on of 20% would increase the <br /> Note: Assuming 5040 qualified proper�es, a residential p� <br /> residential rate by about 10%. See reverse for examples. <br />