Saturday, December 3, 2011
DOR warns of Senior Circuit Breaker Tax Credit scam
Sent to you by Steve Sherlock via Google Reader:
via Commonwealth Conversations: Revenue by Robert Bliss on 12/2/11
The Department of Revenue today released a statement from Taxpayer Advocate Dennis Buckley warning the public, tax preparers, and those who assist seniors in preparing tax returns of a scam that surfaced last year involving the popular Senior Circuit Breaker Tax Credit.
"The Senior Circuit Breaker Tax Credit last year helped nearly 80,000 state residents receive a refundable tax credit. Unfortunately, several unscrupulous tax preparers coaxed elderly public housing residents to fraudulently apply for the credit (residents of public housing are ineligible for the credit).
"The preparers who participated in this scam asked for a payment to submit the fraudulent application, and some seniors received the credit without actually qualifying for it. The Department of Revenue has notified those senior residents that the refund was obtained fraudulently and must be paid back.
"The Senior Circuit Breaker Tax Credit last year helped nearly 80,000 state residents receive a refundable tax credit. Unfortunately, several unscrupulous tax preparers coaxed elderly public housing residents to fraudulently apply for the credit (residents of public housing are ineligible for the credit).
"The preparers who participated in this scam asked for a payment to submit the fraudulent application, and some seniors received the credit without actually qualifying for it. The Department of Revenue has notified those senior residents that the refund was obtained fraudulently and must be paid back.
"We ask you to share knowledge of this scam with your colleagues. Seniors are not eligible for the Senior Circuit Breaker Tax Credit if they live in public or subsidized housing," Buckley wrote.
The Senior Circuit Breaker will deliver a maximum tax credit of $980 in tax year 2011.
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Friday, December 2, 2011
Santa's arrival (photo slideshow)
I missed the tree lighting ceremony at Dean College but did manage to make it around to most of the Holiday Stroll on Thursday evening. As I made the rounds however, it was too dark to take good photos. I do have additional photos from Santa's arrival on the Town Common on Sunday to share:
Enjoy!
12 Days of Donating to Benefit Franklin Food Pantry
Sent to you by Steve Sherlock via Google Reader:
via Berry Insurance Blog by berryinsurance on 12/1/11
Franklin businesses will be collecting canned goods for the Franklin Food Pantry for twelve days, from December 1st to the 12th as part of their "1,200 pounds of food and $1,200 in 12 days" campaign. Be sure to take part in this "12 Days of Donating" to help the Pantry support those in need this holiday season. Be sure to stop into any of these local spots listed below, anytime until the 12th, with canned goods or donations, and show your support for the community.- Franklin Downtown Partnership – 9 East Central Street
- Jane's Frames – 11 East Central Street
- Printsmart Office Supplies – 20 East Central Street
- Berry Insurance – 9 Main Street
- Dean Bank – 21 Main Street
- Dean College at the Campus Center
For more information about this topic, or to get some answers about your current insurance situation, please visit our virtual insurance agency at www.berryinsurance.com, stop by one of our two locations, or give us a call at (800) 941-3317.
You can also find us on all your favorite social networking sites!
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"this gets people thinking"
The Holiday Stroll, hosted by the Franklin Downtown Partnership, is meant to draw people through downtown and reacquaint residents with the businesses there on a more personal level.
"It gives people a chance to talk to local store owners and business owners," said Lisa Piana, executive director of the partnership. "A lot of times people find out about new businesses downtown because they're taking the time to stroll downtown, instead of doing their errands."
The stroll began with a ceremonial lighting of a large tree on the Dean College campus. Businesses nearby set up indoor and outdoor craft stations for children. They could, for example, decorate gingerbread cookies outside Dean Bank or make snowman ornaments in the Franklin Art Center.
Read more: http://www.milforddailynews.com/features/x46240893/Families-flock-to-downtown-stroll-in-Franklin#ixzz1fNBhacda
Thursday, December 1, 2011
"Your local tax dollar is spent in your town"
The tax rate was raised from $12.95 per $1,000 of property value to $13.73 per $1,000, in part because of dropping home values. Towns often respond to declining property values by raising rates to at least maintain revenue totals.
"Rates go up when the value of the town goes down because the value of the town needs to stay the same," said Councilor Glenn Jones, admitting that the explanation is basic and simplistic.
Read more: http://www.milforddailynews.com/business/x46240157/Residential-commercial-taxes-rising-in-Franklin#ixzz1fHHdtjPM
The live reporting from the Town Council meeting Weds, Nov 30 can be found here
http://www.franklinmatters.org/2011/12/town-council-113011.html
Additional information on the tax rate can be found here
http://www.franklinmatters.org/2011/11/fm-101-tax-rate-info.html
Taking a LEAP! (video)
I met Steve Farber earlier this year and received an advance copy of this book. I don't have it anymore as it went to someone who really wanted to read it. Now with the official version available, I can get a new copy for myself. And help him with this new out reach effort!
"Do what you love in the service of people who love what you do" - Steve Farber
"Do what you love in the service of people who love what you do" - Steve Farber
3 more Franklin Area Blogs
Three more items from the Franklin Area Blogs to highlight today.
Realtor Kathy Stankard writes about the Downtown Partnership's Holiday Stroll taking place today:
Upcoming Franklin, MA Holiday Events Worth Checking Out
Holiday Stroll Map
Realtor Kathy Stankard writes about the Downtown Partnership's Holiday Stroll taking place today:
Upcoming Franklin, MA Holiday Events Worth Checking Out
Holiday Stroll Map
Breakfast with Santa - Franklin British Beer Company
What: Breakfast with Santa
Where: British Beer Company in Franklin
When: Saturday December 10th, 8:30am and 10am
Why: To benefit the Santa Foundation
Santa's coming to town! Gather up the kiddies and let 'em know they better be good, for goodness sake, 'cause Santa will be hosting breakfast at the British Beer Company in Franklin. Old Saint Nick will be flying in from the North Pole on December 10th for this special morning. There will be two seatings: 8:30am and 10am, tickets are only $10 and $5 for kids under 12. The breakfast, and a raffle, will be helping us to raise funds for the Santa Foundation, who provides gifts for families in need during Christmas. The foundation was able to help 700 families last Christmas…that's a lot of shiny happy local children! The BBC is inviting the whole Franklin community down for some eggs and pancakes…all for a good cause. Children should come with their Christmas wish list ready to go for good ole Chris Kringle.
British Beer Company
280 Franklin Village Drive - Franklin, MA
Town Council - 11/30/11
The collection of posts that were reported live during the Town Council meeting on Weds, Nov 30 can be found here
- Live reporting - closing
- Live reporting - legislation for action
- Live reporting - Tax hearing
- Live reporting - Citizens comments
- Live reporting - Town Council
Wednesday, November 30, 2011
Live reporting - closing
K. TOWN ADMINISTRATOR’S REPORT
commenting on the citizens comments, it was not $350,000 spent, it was $100,000
it was not a court proceeding, it was an arbitration issue and not a public record
the legal bills are a public record and were part of the school committees warrant
L. OLD BUSINESS
none
M. NEW BUSINESS
none
N. COUNCIL COMMENTS
Powderly - Councilors breakfast at Senior Center
I am meeting with Karen tomorrow, we are trying to figure out the best use of that committee, once we resolved the tax abatements, we did not meet much. I appreciate your input, it hasn't been officially disbanded, it is looking for new direction
Pfeffer -
Kennedy School Playground committee most active I have seen, they are around
Can we get an updated listing of the councilors?
Nutting - it will be in the package for next meeting
Kelly -
thanks to the Concerts ont he Common and the DPW for the work on the holiday decorations
Santa came on Sunday and it was a good time
O. EXECUTIVE SESSION – Negotiations, Litigation, Real Property, as May Be Required
motion approved, via roll call 8-0
Live reporting - legislation for action
J. LEGISLATION FOR ACTION
1. Resolution 11-65:Classification Tax Allocation– Residential Factor
motion to approve - passed 8-0
2. Resolution 11-66:Classification Tax Allocation – Open Space Exemption
motion to approve - passed 8-0
3. Resolution 11-67:Classification Tax Allocation – Small Businesses Exemption
motion to approve - passed 8-0
4. Resolution 11-68: Classification Tax Allocation – Residential Property Exemption
motion to approve - passed 8-0
Live reporting - Tax hearing
E. APPOINTMENTS
G. LICENSE TRANSACTIONS
2 minute break to get to 7:10 for the scheduled hearing start
F. HEARINGS - Annual Tax Classification Hearing – 7:10 PM
Ken Norman, Chair Board of Assessors
Kevin Doyle, Director of Assessors
Chris Feeley, Vincent DeBaggis - board members
Jeff Nutting, what you see tonight in 15 minutes is the result of over 2,000 hours of work
the State has already provided a preliminary assessment in approval of the process
Thanks for all the work done
Kevin Doyle -
providing an overview of the package
page 2 a summary of the status change in valuations
Pages 6 - 10 a listing of the commercial and industrial properties
page 11 - shows the calculation for the residential vs commercial industrial class
Page 12 - shows the calculation to get to the tax base valuation - new growth valuation
personal property - one time growth, not expected to repeat
a large account that was unanticipated
What is personal property?
personal property- business assets that are taxable locally (furnishings, computers, etc.)
Page 14 - calculates the levy limit
Page 21-22 what if scenarios? answers the questions on shifts if a split tax rate was chosen
Page 23 - from the DOR website
Page 24 - shows the tax rate against an "average" value
Page 25 - shows the tax rate against the "median" value
Page 26 - the levy as applied against the different classes and percent change from last year
page 27 - a summary page showing the major classes over the years, depicting changes year to year
Roy - question on Franklin Village getting a mortgage of $44M with an assessed value of $46M?
Doyle - the deed sometimes provides detail and the mortgage can sometimes provides more detail. This is some speculation. What we did do, we engaged a consultant to assist in the valuation, gathered income and expense information for review by us and by the DOR to confirm if we were using appropriate schedules
Norman - it is a national company and they could be doing something with the property and taxes that we don't know
Nutting - can you explain the data used?
Doyle - We are using last year's data as this year is not yet complete.
Jones -
Doyle - most property is owner occupied, communities that typically go with the residential exemption are larger cities or more seasonal resort type areas where the buildings are not generally owner occupied. What you have to understand, is that the residential exemption would be taken from the other residences. With a high level of owner occupied, a residential exemption would provide little offset practically
Norman - Your other question is basically with prop 2.5%
Doyle - the 2.5% is there pretty much automatically, my main goal day to day is to be fair and equitable. The adjustments need to be made in the same way.
Bissanti - congratulations on a good package, what do you see?
Doyle - We have looked ahead but those are part of the test group. The first six months of 2011 were similar to the market closing at the end of 2010. We don't predict future value
Feeley - our job is as historians, we are not here to predict the future
Powderly - we did not say what the new tax rate is yet, it would go from 12.79 to 13.73. Where do vacancies stand? mostly in the Commercial industrial piece
Doyle - we do have an allowance for vacancy and collection loss, historically if you look out over a 10 year period, some properties have never been vacant and others are frequently so.
Powderly - it is obviously a lag
Doyle - we receive information confidentially so we can't share some specifics with others
Jones - how do you compare Franklin to surrounding towns?
Doyle - probably want to turn to the realtors for that, DOR would have that.
Nutting - remind folks of the way the system works in the commonwealth, you need to compare the total year to total year, the first two bills are estimates
Powderly - with a single rate versus a split tax rate, if we were to go with a split rate, to take one dollar from the residents would raise the commercial rate by $4.
Hearing closed
G. LICENSE TRANSACTIONS
2 minute break to get to 7:10 for the scheduled hearing start
F. HEARINGS - Annual Tax Classification Hearing – 7:10 PM
Ken Norman, Chair Board of Assessors
Kevin Doyle, Director of Assessors
Chris Feeley, Vincent DeBaggis - board members
Jeff Nutting, what you see tonight in 15 minutes is the result of over 2,000 hours of work
the State has already provided a preliminary assessment in approval of the process
Thanks for all the work done
Kevin Doyle -
providing an overview of the package
page 2 a summary of the status change in valuations
Pages 6 - 10 a listing of the commercial and industrial properties
page 11 - shows the calculation for the residential vs commercial industrial class
Page 12 - shows the calculation to get to the tax base valuation - new growth valuation
personal property - one time growth, not expected to repeat
a large account that was unanticipated
What is personal property?
personal property- business assets that are taxable locally (furnishings, computers, etc.)
Page 14 - calculates the levy limit
Page 21-22 what if scenarios? answers the questions on shifts if a split tax rate was chosen
Page 23 - from the DOR website
Page 24 - shows the tax rate against an "average" value
Page 25 - shows the tax rate against the "median" value
Page 26 - the levy as applied against the different classes and percent change from last year
page 27 - a summary page showing the major classes over the years, depicting changes year to year
Roy - question on Franklin Village getting a mortgage of $44M with an assessed value of $46M?
Doyle - the deed sometimes provides detail and the mortgage can sometimes provides more detail. This is some speculation. What we did do, we engaged a consultant to assist in the valuation, gathered income and expense information for review by us and by the DOR to confirm if we were using appropriate schedules
Norman - it is a national company and they could be doing something with the property and taxes that we don't know
Nutting - can you explain the data used?
Doyle - We are using last year's data as this year is not yet complete.
Jones -
Doyle - most property is owner occupied, communities that typically go with the residential exemption are larger cities or more seasonal resort type areas where the buildings are not generally owner occupied. What you have to understand, is that the residential exemption would be taken from the other residences. With a high level of owner occupied, a residential exemption would provide little offset practically
Norman - Your other question is basically with prop 2.5%
Doyle - the 2.5% is there pretty much automatically, my main goal day to day is to be fair and equitable. The adjustments need to be made in the same way.
Bissanti - congratulations on a good package, what do you see?
Doyle - We have looked ahead but those are part of the test group. The first six months of 2011 were similar to the market closing at the end of 2010. We don't predict future value
Feeley - our job is as historians, we are not here to predict the future
Powderly - we did not say what the new tax rate is yet, it would go from 12.79 to 13.73. Where do vacancies stand? mostly in the Commercial industrial piece
Doyle - we do have an allowance for vacancy and collection loss, historically if you look out over a 10 year period, some properties have never been vacant and others are frequently so.
Powderly - it is obviously a lag
Doyle - we receive information confidentially so we can't share some specifics with others
Jones - how do you compare Franklin to surrounding towns?
Doyle - probably want to turn to the realtors for that, DOR would have that.
Nutting - remind folks of the way the system works in the commonwealth, you need to compare the total year to total year, the first two bills are estimates
Powderly - with a single rate versus a split tax rate, if we were to go with a split rate, to take one dollar from the residents would raise the commercial rate by $4.
Hearing closed
Live reporting - Citizens comments
D. CITIZEN COMMENTS
Ken Norman
1 - recommending the continuation of a committee to help coordinate the efforts for the seniors
2 - recommendation on better visibility to law suits pending with the town particularly in getting exposure to the expense associated with such
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