2019-Annual Town Report - Laserfiche WebLink

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willing buyer would pay a knowledgeable and willing seller on the open market. The fiscal period ending June 30, 2019 is based on the assessment date of January 1, 2018. Every five years, the Massachusetts Department of Revenue (DOR) extensively audits the Assessor's Office to verify that the assessors are using correct Mass Appraisal methodology and that its values reflect full and fair market value. When the DOR is satisfied, the assessors are allowed to calculate the tax rate based on the budget and then commit the tax levy to the Tax Collector. Fiscal Year 2019 saw the conclusion of the assessors' ongoing appeal regarding State Owned Land (SOL) valuations. The Commonwealth is obligated to reimburse cities and towns for lost tax revenue of property taken by the state. Since 2008, Mashpee Assessors had engaged in litigation regarding the state's valuation of SOL which had resulted in diminished reimbursement to the Town. Over the ensuing eleven years, the Board of Assessors contested the valuations determined by the Commonwealth. In April 2019, a settlement agreement was reached that over five years will see an estimated additional $1,200,000 in tax revenue reimbursed to the Town. This settlement more than doubles the previous reimbursement and this additional revenue will continue on into the future helping ease the financial burden on Mashpee taxpayers. Many thanks to all involved in achieving this positive outcome for all Mashpee citizens! The Board of Assessors' areas of responsibility include: • Real Estate and Personal Property tax valuations • Administering Motor Vehicle Excise taxes • Administering Boat Excise taxes • Personal and Charitable Exemptions • Administering water, street and sewer betterments The Assessing Department's charge is to: • Discover, analyze, and reflect the value changes that occur in the market • Regularly inspect each property to record spe- cific features of the land and buildings • List items such as size, type, and quality of con- struction, number of rooms, baths, fireplaces, the type of heating, etc. • Inspect each structure in town at least once every ten years • Set the Tax Rate based on budget requirements and valuations Real estate and motor vehicle excise tax levies account for the majority of the funds available to the municipality. Efficient and effective assessment practices result in a predictable tax levy which is essential to maintaining town services. Again I would like thank the dedicated Assessing Office employees and Members of the Board of Assessors for all of their hard work and commitment to the Town of Mashpee. If you have any questions or concerns, please contact us or stop into the office and we will be happy to assist you. Respectfully Submitted, Jason R. Streebel, MAA Director of Assessing