Laserfiche WebLink
Breadcrumb Navigation:
12/14/2017 AC Minutes <br /> which discusses the impact of personal property new growth on the annual increase in tax <br /> bills. The report demonstrates that personal property values in Westborough have not <br /> increased as much as the new growth component in the tax levy base associated with <br /> personal property because there is no process for reducing that new growth component as <br /> personal property depreciates or is retired. Lexington has had a comparable situation, as <br /> discussed in material provided by Mark Andersen. <br /> It was noted that the annual tax increases have been greater than those for commercial <br /> properties for many years. Mr. Bartenstein observed, referring to historical data in the most <br /> recent Tax Classification Packet prepared by the Board of Assessors, that the average annual <br /> tax increase for Lexington's residences has ranged from 2.8% to 5.4%, and averaged 3.09%, <br /> since 2010, though some of this growth is attributable to the so-called"natural shift"which <br /> results when residential property values increase at a faster rate than commercial, industrial <br /> and personal(CIP)property values. <br /> Mr. Bartenstein suggested that future debt exclusion efforts may need to take these <br /> phenomena into account in explaining the tax impacts of a proposed project. <br /> 4. Minutes <br /> A motion was made and seconded to approve the minutes for October 16, 2017 and October <br /> 18, 2017. The motion passed. VOTE: 7-0 (Note: Mr. Michelson departed shortly before <br /> this vote was taken.) <br /> 5. Preliminary Planning for Report to 2018 ATM <br /> Mr. Bartenstein distributed a spreadsheet with preliminary assignments for writing this <br /> Committee's report to the 2018 ATM. <br /> The meeting adjourned at 9:30 p.m. <br /> Respectfully submitted, <br /> Sara Arnold, Recording Secretary <br /> Approved.- February 1, 2018 <br /> Exhibits <br /> • Agenda, posted by John Bartenstein, Chair <br /> • Appropriation Committee Report to Annual Report Committee prepared by <br /> Mr. Bartenstein <br /> Town of Westborough, Analysis of Levy Limit Growth,prepared by Westborough's <br /> Advisory Finance Committee, (not dated, data includes FY2015) <br /> Tax Rate Increases spreadsheet,prepared by Mark Andersen, (not dated, emailed in <br /> November 2017) <br /> Tax Classification Packet, Town of Lexington Fiscal Year 2018, for BOS,prepared by <br /> Lexington Assessors Office, December 6, 2017 <br /> 2018 ATMAC Report Planner of 12/14117,prepared by Mr. Bartenstein <br /> 3 <br />