11/25/1996 BOARD OF SELECTMEN Minutes

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��'� Town oMashee • 16 Great Xeck Apad Xorth Mashpee,ee, Massachusetts 62649 November 18'. 1996 To: Mashpee Board of Selectmen From: David A. Bailey, Director of Assessing Re: Classification Hearing There is aP ublic hearing scheduled for November 25 which is part of the annual tax rate setting process. During this hearing the selectmen will be asked to vote on several issues relating p to Mash ee's Fiscal Year 1997 tax rate. I will give a brief rundown of those issues here and am available at any time to answer your questions . The items up for consideration are: 1.To split the tax rate. Massachusetts law allows the selectmen to vote a higher tax rate A for Commercial Industrial & Personal Property (C.I.P.) than residential property. The 7 C.I.P rate can be raised to 150% of the unadjusted tax rate, reducing the residential rate The C.I.P. proper-ties in Mashpee make up such a small percentage of the proportionally. p whole that even a 50% increase in their tax burden allows very little relief for the residential taxpayer. The ratio of increase in tax for C.I.P to savings for residential is about 10 to 1. 2. Sm business tion. If the Selectmen vote to split the tax rate they are allowed Small exemption. from the increase properties occupied by businesses that employee fewer than toexempt ten people. 3. Residential exemption. There is a tax exemption available on the domicile of Mashpee residents. The exem tion is paid for exclusively by other residential property owners and is p reduction equal to u to 20% of the average residential tax assessment. This an assessment redu q p exemption raises the residential tax rate but reduces assessments for owner occupied properties,the C.I.P rate is unaffected by this option.