HomeMy WebLinkAbout2005-04-06-TDES-min RECEIVED
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TOWN CLERK
LEXINGTON MA
MINUTES OF MEETING OF SELECTMEN'S TAX DEFERRAL AND EXEMPTION
STUDY COMMITTEE
April 6, 2005 at 9:30 AM at the Town Offices
Present: Vicki Blier, Marilyn Campbell, Pat Costello, Bill Kennedy and Tom Taylor.
Pat reported that there has been no action yet on the proposed legislation on exemptions
and deferrals, including clarification of the effect of Prop. 2 /z.
We have been asked by the Selectmen to study the pros and cons of adopting the
Residential Exemption (M.G.L. Ch. 59 Sec. 5C) in Lexington. Vicki suggested we
should start by contacting the cities and towns which have already adopted it and talk to
assessors, town officials and the local newspaper. Some of questions we might ask are:
I. Why would a town with lots of apartments adopt this? How does it affect
rental properties and if it results in higher taxes for rental properties, is this
increase passed on to tenants?
2. What kind of a burden does it place on the assessing department?
3. How many years has it been in force?
4. What negative consequences, for example,passing overrides?
5. Does the exemption have to be applied for?
6. How do you set the tax rate if you don't know how many people will apply?
7. Does adopting the Residential Exemption cause house prices to rise?
Vicki will send out a draft of a questionnaire for review. When it has been settled she
will assign towns for each member to contact.
We briefly discussed whether we need two more members. No conclusion was reached.
Next meeting is April 27 at 9:30 AM at the Town Manager's Office.
Tom Taylor, acting sect'
We next discussed possible goals of the committee for this year:
1. Raise the 4 1 C exemption to $1000.
2. Add a COLA to the income limit in 41C.
3. File a Home Rule petition with the Legislature to change the interest
requirement in 4 1 A to a current rate rather than the required 8%, as was done
by Wellesley.
4. Increase the amount of relief available under the"work off' program to $1000
if permitted by law. Peter thought this should await more data on what work
is actually available.
5. Educate seniors to encourage use of deferrals and exemptions. It was not
clear whether this was part of the job of this committee. It was informally
agreed that education to encourage deferrals should wait until a more
favorable interest rate is available.
It was decided that we would propose to the Selectmen for TM action the following: (1)
adding a COLA and (2) filing a Home Rule petition. Vicki is to meet with the Selectmen
to propose these measures.
Tom Taylor, acting secy.