11/18/2019 BOARD OF SELECTMEN Agenda Packet

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N tr y Town ofNashpee 16 Great Deck Road Xorth, Alashpee, Wassach'Usetts 02649 Hours:Mon. - Fri., 8:30am-4:30pin Assessing Department Phone: (508)539-1404 Jason R.Streebel,MAA FAX: (508) 539-1405 Director of Assessing Classification Hearing To: The Honorable Members of the Board of Selectmen, In order to facilitate your Public Hearing on November 18th, 2019 regarding Tax Rate Classification; please see the accompanying recommendations and information. The first point to be addressed is whether the tax rate should be "shifted" between cate- gories of properties. This would result in a greater share of the tax burden up to 150%, being placed on Commercial, Industrial and Personal Property (residential & commercial) taxpayers by increasing their tax rate while reducing the tax rate for residential properties. Approximately 7.7% of Mashpee's taxable valuation is commercial and industrial properties. The second point for consideration is whether there should be'a residential exemption of up to 35% for Mashpee residents. This shifts the tax burden among the residential properties only, onto the higher valued homes and all part-time residents. For proper implementation of budgeting, software, additional staffing and most importantly to assure a timely tax bill mailing, a lead time of one year should be given to the Tax Collector and'Assessing before the adoption of this exemption. The third point is whether there should be an Open Space discount. This option would have little effect as Open Space parcels are already greatly reduced in value. The final point for consideration is whether the Town of Mashpee should adopt a Small Commercial Exemption of up to 10% shifting some taxes to other taxpayers. Currently there are 49 out of the 347 commercial properties solely occupied by the owner. To promote continued fair and equitable taxation, the Board of Assessors voted at their October 16th meeting to recommend a single tax rate be adopted with no residential exemption and no small business exemption and no discount for Open Space. All four points may be voted on individually or as one motion. A sample motion is included below. Sample MOTION: I move that the Town of Mashpee adopt a tax rate Factor of"I" for all classes of property with no discount for Open Space, no Residential Exemption and no Small Commercial Exemption. Respectfully Submitted, Jason Streebel Director of Assessing C:\Users\tmcook\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\234694UO\Classification Options FY20.doex