F. HEARINGS - Annual Tax Classification Hearing – 7:10 PM
Ken Norman, Chris Feeley, Kevin Doyle, Director of Assssors
Missing Vinny Debaggis, had a fall, fracturing his hip, he is doing well. He is hoping to be home by Christmas
This is the year for a tri-annual revue. The State reviewed our methods, books, etc and we did very well.
You have a set of documents with details.
Town valuation is 4.2 billion
The tax rate would be $12.95/thousand
Mason - there seems to be some level of confusion around how the tax rate is achieved, can you explain?
Doyle - the levy limit is determined, plus the 2.5%, plus the new growth provides a total
This year growth is 513,322
We also add the prior debt exclusions (approx. $1.2 million)
these total to the levy amount we are authorized to raise
The total of appraisals value by classification is calculated
Nutting - the drop is assessed value has caused the increase the rate from the peak of over 5 billion assessed value in 2007
Norman - residential property is easy to calculate as there is sufficient turnover, the commercial/industrial properties turn over less frequently so there are different valuation processes defined by the MA DOR
Feeley - the state comes in to review our numbers before they are published for our town review period. We have to meet their qualification before the number is approved
Jones - Can you explain the difference in decline for residential and 2-3 family
Mason - Is there a number of vacant business properties?
Doyle - I think you would get a better number from the Planning Dept
Nutting - Brian (Taberner) did a survey and has that information.
Powderly - single versus single?
Norman - yes, the calculation is shown as if there was a single tax rate.
Feeley - we are not recommending either way? If we had done a split rate last year, the residential rate would be increasing this year more than the single tax rate would be.
Pfeffer - What would you recommend?
Feeley - as a Board we are not making a recommendation, personally I would not recommend it
Norman - It is not our charge, we are supposed to calculate the assessments, it is a political decision to determine single or split tax rate
Jack Lank - President of the United Regional Chamber of Commerce, 95% of the business are small businesses, mom and pop operations. If you go with a split rate, you might as well put up a sign on i495 saying we are not business friendly. With the challenge for implementing the EPA regulations, the businesses will be hard pressed.
closing the hearing
My analysis of the tax information is available here
http://franklinmatters.blogspot.com/2010/12/fm-79-slidecast-tax-hearing-info-for-fy.html
Franklin, MA