2018-01-18-AC-min - Laserfiche WebLink

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01/18/2018 AC Minutes 0 Accept Massachusetts General Laws, Chapter 59, §5C'/z; Property Tax Exemption Multiplier.- Mr. Bartenstein reported on a recommendation made by the Tax Exemption Deferral Committee to the Board of Selectmen that Town Meeting be asked to accept G.L. c. 59, §C�/z, which would permit multiplication of existing low-income and other categorical property tax exemptions (such as for veterans)by up to 100%. Mr. Bartenstein reviewed a handout prepared by Vicki Blier, co-chair of that committee. He noted that the Tax Deferral Committee will also be looking into other options for low- income property relief, including special acts which several towns, including Sudbury, have obtained which allow a shifting of tax burdens among residents without impacting the Town budget; and that the Selectmen have established a new committee to look further into the Residential Exemption. 3. Minutes Approval of the December 14, 2017 minutes was postponed until the next meeting. 4. Planning for Report to 2018 ATM Mr. Michelson reported that he was impressed with the forecasting model that was recently prepared by Ms. Kosnoff and found that her results were comparable to his. He suggested that consideration be given to using this model as an appendix to the Committee's report. Mr. Bartenstein noted that this Committee has an obligation under the Town bylaws to prepare its own three-year projection for ATM but strongly encouraged any efficiencies which might be obtained by using the staff version as a starting point. The meeting adjourned at 9:00 p.m. Respectfully submitted, Sara Arnold, Recording Secretary Approved.- February 1, 2018 Exhibits • Agenda, posted by John Bartenstein, Chair • Email from telaventina(aagmail.com on behalf of Vicki Blier to John Bartenstein; January 17, 2018; RE: 5C '/z Analysis and attachments: o Clause 5C �/z Summary; o Clause 5C �/z Fiscal Impacts to Lexington at 30% Increase; o Clause 5C �/z Fiscal Impacts to Lexington at 30%, 60% and 100% Increases o Utilization of 5C '/z in other towns 3