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RECEIVED
<br /> 2022 28 Jain, &M ain't
<br /> Board of Assessor's Meeting TOWN CLERK
<br /> Open Session Minutes LEXINGTON MA
<br /> November 09, 2020
<br /> A remote participation meeting of the Lexington Board of Assessors was called to order at 4:30 p.m. on Monday, November
<br /> 09, 2020 via Zoom remote meeting services.The Meeting was publicly posted for 4:15 p.m. but experienced delays due to
<br /> technical issues. Gregory Johnson, Chairman, Edmund C.Grant, Member, Casimir Groblewski, Member,were present as
<br /> well as Robert F. Lent, Director of Assessing and Sandra Pentedemos,Administrative Assessor.
<br /> Chairman, Gregory Johnson stated the remote participation meeting is being held in accordance with Governor Bakers March
<br /> 12,2020 Executive Order suspending certain provisions of the Open Meeting Law to allow remote participation during
<br /> Massachusetts'State of Emergency due to the outbreak of COVI D-1 9.
<br /> Mr.Johnson provided instructions to the members of the public,who were watching or listening to the meeting via the Zoom
<br /> application regarding the procedure of making a public comment.
<br /> Open Session
<br /> Public Comment Time: Mr.Johnson announced the postponement of Public Comment Time towards the end of Meeting.
<br /> Public Comment was called at 5:15 p.m. The following individuals were present, Carolyn Kosnoff,Assistant Town Manager of
<br /> Finance, Jennifer Hewitt, Budget Officer,Jill Hai, Select Board Chair, Douglas Lucente, Select Board Vice-Chair,Joseph Palo,
<br /> Member of Select Board, Suzanne Barry, Member of the Select Board, Sandhya Iyer, Director of Economic Development,
<br /> Carol Kowalski,Assistant Town Manager for Development, Sheila Page,Assistant Planning Director. Also present were
<br /> residents David Kanter,Alan Levine, Frank Smith and Glenn Parker.
<br /> Mr. Lent presented discussions and review of the Preliminary Fiscal Year 2021 Informational Tax Classification Packet being
<br /> presented to the Board of Selectmen on November 16,2020.The Board reviewed each class of Residential, Commercial,
<br /> Industrial and Personal Property assessed values and each Exhibit within the packet.
<br /> There were no discussions of Financial Issues including Overlay Fund.
<br /> Chairman Johnson made a motion that the Board of Assessors go into Executive Session tinder Purpose 7 in order to
<br /> deliberate Fiscal Year 2020 Statutory Exemptions, Real Estate Abatement Applications and Personal Property Abatements
<br /> since deliberation in Open Session could be detrimental to potential appeal or litigation matters, consistent with requirements
<br /> and practices specified in the Open Meeting Law Guide.
<br /> The Board voted, 3-0 in favor to go into Executive Session at 4:40 p.m.
<br /> Executive Session occurred here: details may be viewed in separate Executive Session folder.
<br /> Upon motion duly made and seconded,the Board of Assessors adjourned the Executive Session at 5:15 p,m.and returned to
<br /> Open Session of the Meeting,
<br /> Open Session
<br /> Mike Tarello of Vision Government Solutions, Inc., presented the regional market trend perspectives and presented the Towns
<br /> fiscal year 2021 Mass Appraisal valuation process of the residential,commercial and industrial properties. Mr.Tarello
<br /> presented the review of the Towns assessed classes(residential, condominiums, apartments, land,commercial and
<br /> industrial). The studies were based from sales analysis of calendar 2019 market,the land to building ratios, price quartiles,
<br /> and the income/lease analysis of commercial/industrial that were performed for the fiscal year 2021 revaluation. The single
<br /> family property sales resulted in 2% increase,condominiums were up 3%. The 2020 Sales are showing increases of 24%.
<br /> Further summary by property styles have shown a Coefficient Disbursement of 7.76%with a Median Absolute Disbursement
<br /> of(.07). The averaged 2019 sales of residential properties was at 1.2 million with a Mean of 1.344 million. Office trends
<br /> forecasted $35/square foot, Retail forecasted a decrease of$28 to$32/square foot, down from the previous$34/square foot.
<br /> Bio Tech, Lab/Office and Assisted Living facilities have shown a spike during COVID in Lexington.
<br /> The Board voted, 3-0 in favor to go into Executive Session at 5:40 p.m.
<br /> Executive Session occurred here: details ma v be viewed in seDarate Executive Session folder.
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