HomeMy WebLinkAbout2012-11-08 Board of Assessors MinutesTOWN OF READING
16 LOWELL STREET
READING, MA 01867 -2693
BOARD OF ASSESSORS
TEL.: 781 - 942 -9027
FAX: 781 - 942 -9037
OPEN SESSION MINUTES
NOVEMBER 8, 2012
MEETING WAS CALLED TO ORDER AT 6:30 P.M
IN ATTENDANCE:
BOA: FRED MCGRANE, RALPH COLORUSSO AND ROBERT J.
QUINN, JR.
BOA ABSENT: ROBERT I. NORDSTRAND (ASSOCIATE
MEMBER)
OTHER: VICTOR SANTANIELLO
1. APPOINTMENTS: -
NONE
2. MINUTES OF THE PREVIOUS MEETING /S:
Mr. Quinn read aloud the draft minutes for the Board's October 9,
2012 Executive Session. No changes were proposed. A motion by Mr.
McGrane seconded by Mr. Colorusso to approve the minutes as read
was approved by a vote of 3 -0 -0.
3. TOWN APPRAISER'S REPORT:
Mr. Santaniello reported that the following forms were submitted to
MADOR on November 6,2012: Sales (LA -3), Classification Report
(LA -4), and the Sales Adjustment Report (LA -15).
The New Growth Report (LA -13) was submitted to MADOR on
November 7, 2012. Total Tax Levy Growth was reported to be
$575,000.
Mr. Santaniello noted that MADOR has requested some additional
documentation supporting the new growth in multi - families and
mixed use properties (e.g. Haven Street). The new growth in
commercial properties was mostly attributable to Calareso Farm
Stand's new facility.
Copies of some of the above mentioned reports were distributed and
discussed.
Mr. Santaniello reminded the Board that the annual Classification
Hearing will be held on November 20, 2012. His presentation to the
Reading Selectmen will be a "blend" of his Wakefield Guide and
previous presentations in Reading. He promised that he'll be ready.
4. SIGNINGS: -
The Board approved three (3) vendor invoices totaling $933.15 and
designated as Warrant T1321.
The Board also approved routine Motor Vehicle Excise Tax
abatements totaling $867.11.
5. NEW BUSINESS: -
Appellate Tax Board Cases.
A motion by Mr. McGrane seconded by Mr. Colorusso to go into
Executive Session to consider litigation/settlement strategy with
respect to the 20 Walkers Brook Drive and several Johnson Woods
cases now pending before the Appellate Tax Board was approved on a
roll call vote with all three members voting in the affirmative; the
Chair having previously declared that an open meeting may have a
detrimental effect on the negotiating position of the Town.
The Board reconvened in Open Session at 8 PM.
2012 Comp Resort — Issue 10.
The Board noted that the Warren Group has reported that two
commercial properties were sold in late September.
The gas station located at the intersection of Main and South Streets
reportedly sold for $1.4 million on 9/28/2012. This property was
assessed at $1.7 million for FY 2012.
Mr. Colorusso suggested that volume (i.e., number of gallons pumped)
is a key indicator of a gas station's value. Mr. McGrane noted the
increasing importance of having an attached convenience store, as did
this one. Mr. Quinn noted that the property is currently being
renovated.
Mr. Santaniello noted that volume information could be obtained
from government sources. He also promised to "look at" the
assessment of Reading's other gas stations.
A three story medical office building on New Crossing Road
reportedly sold for $16.4 million, also on 9/28/2012. This property was
assessed at $9.1 million for FY 2012. This transaction was also
reported on the front page of the Reading Chronicle, beneath the
misidentified picture of another property which initially caused the
Board some confusion.
Mr. Quinn noted that this property sold for 180% of its FY 2012
assessed value. He stated that he was familiar with this building and
had little doubt that the recent sale was an arm's length transaction
based on his preliminary search of the available public records. Mr.
Quinn asked if this sale could be used as "leverage" in settlement
discussions with the owners of certain other properties located in that
same vicinity.
Mr. Santaniello replied that the short answer was "maybe ". The sales
price may have been influenced by subjective factors unknown to the
Board. Comparing a medical office building to a restaurant or other
retail establishments would be like comparing apples to oranges. The
passage of time must also be taken into account.
ADJOURNMENT:
A motion by Mr. McGrane, seconded by Mr. Colorusso to adjourn at
8:15 PM was approved by a vote of 3 -0 -0.
6. General Business:
NONE
7. CORRESPONDENCE: -
EMAILS DATED 11/5/2012 FROM VICTOR SANTANIELLO TO
MR. MCGRANE ET AL RE: JOHNSON WOODS AND MADOR
FILINGS.
8. NEXT MEETING(S):
TUESDAY, NOVEMBER 20, 2012 @ 7:00 P.M.
8a: Anticipated Topics:
CLASSIFICATION HEARING WITH BOARD OF SELECTMEN
ADJOURNED: 8:15 P.M. ATTEST:
R RR EJN, E AR