2013-06-11 Board of Assessors Minutes

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A copy of the draft minutes for the Board's May 14, 2013 Executive Session was also distributed to and reviewed by all those present. No changes were proposed. A motion by Mr. McGrane seconded by Mr. Quinn to approve these minutes as written was approved by a vote of 3 -0 -0. 3. TOWN APPRAISER'S REPORT: Ms. Sullivan reported that Mr. Santaniello was unable to attend tonight's meeting due to ill health. She confirmed that Mr. Santaniello has been in close communication with Nate Cramer, Reading's MADOR advisor/liaison with respect to the FY 2014 revaluation. 4. OTHER SIGNINGS: The Board approved the payment of a $1,000 invoice from Real Estate Research Consultants, designated as Warrant T -1351. The Board also approved routine Motor Vehicle Excise Tax abatements totaling $4,160.55 ($2,984.19 +$1,176.36) and certain Veteran Exemptions totaling $1,200. The 3rd Commitment of the 2013 Motor Vehicle Excise Taxes totaling $267,165.43 was approved on June 4, 2013. 5. NEW BUSINESS: Release of Overlav Account Ms. Sullivan reported that the Town Manager had verbally requested that $350,000 of the Overlay Account be released to Overlay Surplus. Mr. Santaniello had drafted a letter to the Town Manager for the Board's approval and signature. This letter was accompanied by a copy of the FY 2013 Account Trial Balance Report showing the YTD activity in the relevant general ledger accounts. The Board noted that the balance in the Overlay Account is currently about $1,425,000. The proposed allocation of the $350,000 adjustment would eliminate the overlay balances for all years predating FY 2009. The current overlay balances for FY 2011 ($167,000) and FY 2013 ($435,000) would not be impacted. The Board discussed the Town Manager's request at length.