HomeMy WebLinkAbout1959-11-03-CEC-min.pdf CAPITAL EXPENDITURES COMMITTEE
Meeting with the Assessors
A meeting was held Tuesday, Novemoer 3, 1969 with the Assessors
Present, for the assessors, William I Burnham and James J Connell, Mr C.
Oronin, Secretary, was also present and answered most questions for the
assessors
Pressnt, for this commituee, Donald P -Noyes, chairman, K.ez Warden, and Ruth Souza.
Before this meeting a letter had been sent by C E.C. to Mr Cass listing some
of the questians the committee would like answered. Mr. Cronin dealt with them
in order.
1. Estimate of 1960 valuations and the percentage increase for the years 1961
through 1964. Jan. 1958 Jan. 1959 Jan. 1960 1961
Land $11,632,805 $ +465,100 + 0.5 million
Land and buildings 61,574,810 + 3.0 mil ion
Personal property 4,228,835 5,123,608
Total +2,005,730 + 3.5 million +3.5 million
The permits for new buildings rose from 235 in 1958 to 250 in 1959 Interest
rate of 6% may slow building.
Personal property taxed is maihly utilities 1959 showed an increase in
personal property of $900,000 most of which was due to Boston Edison. This,
according to Mr Cronin, is unpredictable. The assessors learn of it only when
notified by the state.
2. Increas.>d valuations from Raytneon; Cabot, Cabot & aorbes, MI zone, and
the Garden apartments.
No information yet available When built these will be assessed at
50% of real value, as of the following Jan. 1 Jan. 1, 1960 willshow very
little increase
Land is reassessed when rezoned; it willbe assessed at a higher rate when fully
developed. The land for _4ayt._eon went from $76,000 (farm land) to $276,000
(when rezoned). The buildings will decrease from $30,000 to 0 (Jan. 1960)
3. Loss of valuation after property takings for Battle Road National Park.
Mr Snow has this information.
4. Percentage os the total Lind area in town which is farm land or undeveloped.
ASK Mr Snow
5. Present assessing practices on new Lowes, the resale of older aomes and on
land.
One half full and fair cash value, keeping in mipd equitability of
assessments with existing assessments. It is possible thatoone part of town
a builder could produce and sell houses cheaper -Lan on the other side.
Row much money is abated each year Aggrieved get about 4500 off
Veterans (about 500 eligible) get 42,000 460,000
Total including above and widows, people over 70 equals 465,000
014er James 'are reassessed on sale (price is Thrown teem tax stamps)
6. your thoughts on a total reassessment and the cost of such a project.
Should be decidedoyl town meeting. The assessors are considering the
question, then will ask selectmen. Think $ 100 000 necessary, including the
cost of an Atlas at $50,000 or less (Burnham Minks $35,000) °s9altham paid
$70,000, had their engineering department make it. Lexington would not get
such a complete Atlas, just aerial surveys with lot lines drawn on.