11/6/1998 BOARD OF ASSESSORS Minutes

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i MASH BOA of ASSESSORS November 6, 1998 PRESENT": Marcia R. King, Chairperson Kenneth A. Porter, Vice Chairman Leslie M. Greig, Clerk David A. Bailey, Director of Assessing The meeting was called to order at 2:0p.m. The Minutes of the meeting of October 2 were reviewed. Mr. Bailey suggested the following changes: paragraph 5, date should be November 6 (not October),, and the last sentence of that paragraph should read "last }rear" not e`this year." It was Motioned (Greig), seconded (Porter) and carried to accept the Minutes of October 2 with the above-outlined changes. New Bus' Mr. Bailey noted that he is still working with the Department of Revenue (DOR) on the revaluation. Commercial property has gone up about 20% (between new construction and appreciation). Most of the increase in value isin land value, especially in Popponeset where a major portion of the lots have gone cep by 20%. For maybe Ion of residential properties in town there will be a substantial increase in value. The tax rate, however, will be dropping significantly--in the range of$13.5 per thousand. The drop reflects the revaluations. Sue Mon Than of the ICOR has been working in the Assessor's Department on the revaluation. Mr. Bailey believes that if all goes well, heiwill get approvals from the DOR within two weeps. At that point he will also have the growth documents ready. The "classification# hearing will probably be called for the weep after Thanksgiving. The month of December will be critical in the conversion of revaluation information for tax billing. The LA4 Foam ("Property by Classification" will also be sent to the DOR.. If am changes are made after the tax rate is set,, we must document them. If values change more than 10%, they mut also be documented. The LA3 Form "Sales Deport for Calendar Year 1977" i what vire have based property values on. Mr. Bailey reported that the mapping project is going well. Doers and driveways will be put on the neap (not part of the original specs). we have reviewed the new check plots. 'Town departments will be sharing the load of reviewing pertinent mapping information. 'Town departments have been very helpful with this task. Discussion ensued regarding the newly enacted Land Bank legislation. Questions were raised regarding how the Bill will be implemented and regulated.