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4. SIGNINGS: - <br />THE BOARD REVIEWED AND APPROVED ROUTINE MOTOR <br />VEHICLE EXCISE TAX ABATEMENT REQUESTS AND <br />CERTIFIED ABUTTERS LISTS. <br />THE BOARD THEN REVIEWED AND ACTED UPON ELEVEN <br />FY2012 REAL ESTATE TAX ABATEMENT REQUESTS AS <br />FOLLOWS: <br />APPROVED: #8. <br />DENIED: #26, #30, #33, #34, #35, #36, #47, #69, #74 AND #75. <br />THE BOARD UNANIMOUSLY VOTED TO FOLLOW THE <br />RECOMMENDATION OF THE TOWN APPRAISER IN EACH <br />INSTANCE. <br />5. NEW BUSINESS: - 5A. OVERLAY ACCOUNT <br />WILLIAM BOATWRIGHT DISTRIBUTED COPIES OF THE <br />"OVERLAY ACCOUNT ANALYSIS AS OF FEBRUARY 7,2012" <br />AND SOME RELATED WORKSHEETS WHICH WERE THEN <br />REVIEWED AND DISCUSSED BY THE BOARD. <br />ACCORDING TO THE ANALYSIS, THE OVERLAY BALANCE <br />AS OF 10/31/2011 WAS APPROXIMATELY $595K, AFTER <br />DEDUCTING THE TOTAL OVERLAY SURPLUS FOR FISCAL <br />YEARS 2004 -2008, WHICH AMOUNTED TO $376K. THE <br />ADJUSTED BALANCE DOES NOT REFLECT THE RECENT <br />WITHDRAWAL OF APPLICATION #22. <br />WILLIAM BOATWRIGHT NOTED THAT ABATEMENTS AND <br />EXEMPTIONS AVERAGED ABOUT $260K PER YEAR OVER <br />THE PRECEDING FOUR FISCAL YEARS (FY2008- 2011). <br />