11/21/2022 SELECT BOARD Minutes - Laserfiche WebLink

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3 Mashpee Select Board Minutes November 21, 2022 APPOINTMENTS & HEARINGS Tax Classification Hearin : Assessor, Jose hmGibbons: Discussion and A royal of„Fiscal Yearm2023 Tax Rate: The Select Board opened the Public Hearing on whether the Town of Mashpee should implement the Classification Act by reading aloud the hearing notice into the record. At the hearing the Mashpee Select Board will hear testimony as to what will be the Fiscal Year 2023 residential factor which will determine the share of taxes each classification of property will pay, what will be the open space factor, and whether there will be a residential exemption and/or a small business exemption. Joseph Gibbons, Assessor was in attendance with Dawn Thayer the Finance Director and Craig Mayen the Treasurer/Tax Collector to facilitate this hearing. Joseph Gibbons, Director of Assessing indicated the figures to be reviewed this evening are estimates. The tax rates are proposed and subject to the approval of the Department of Revenue. Every community in the Commonwealth of Massachusetts must vote annually on the following sections of the Classification Act; 1. Whether to continue with a factor of "1" which would not shift the tax burden between classes. The Town of Mashpee has never shifted the tax rate. 2. To adopt the Open Space discount. This option would have little effect in Mashpee as these parcels are greatly discounted. 3. To adopt the Small Commercial Exemption. 4. To adopt a Residential Exemption of up to 35% of the average assessed single-family property. This option would shift the resident's burden from the domiciliary parcels onto higher valued domiciles and ALL non -domiciliary properties. Mr. Gibbons indicated the adoption of a Residential Exemption would increase the overall residential tax burden necessitating additional staffing and requiring state mandated review of the applications every 5 years. At their meeting of November 16, 2022, the Town of Mashpee Board of Assessors voted unanimously to recommend the following: 1. To adopt a Residential Factor of "1 ", meaning no shifting of the residential burden to commercial. 2. To not adopt an Open Space discount. 3. To not adopt a Small Commercial Exemption 4. To recommend a Residential Exemption percentage of "No higher than 10%" if the Residential Exemption is adopted by the Select Board. A percentage no higher than 10% is due to potential overlay deficits, which could drastically affect the FY 2024 budget.