HomeMy WebLinkAbout1993-03-01 Board of Assessors MinutesTown of Reading
16 Lowell Street
Reading,. MA 01867=2693
INTRADEPARTMENTAL. MEMORANDA
TO: BOARD OF ASSESSORS
FROM: DAVE BIL.L.ARD
DATE: 03/01/98
REF. APPRAISER'S REPORT
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1. The proposed budget was reduced in three areas. Two of the items
-were under the Assessment Division Budget. Appraisal Services was
reduced to $3,000 and the mileage reimbursement was reduced to $780.
These two expenses were originally a request for an appropriation
of $6,250 and $1,500 respectively. The third area of reduction was
in the Person-nel budget, Professional Development'. Effectively,
this would reduce our $1,570 for classes and professional dues
.to $900..40. See attached memo from Beth'Klepeis. ~
2. ' The total. applications for-abatement for _F"Y1993, ti'mely. filed, is
1.10.` To date,,there are approximately 82 that have been reviewed
and/or signed' by the Board; which' represents approximately 75%. The
total amount abated to date is $12,445.59. All 'that remain are
the commercial/pe..rsonal property/and condo abatements.
3. There have been approximately 417 exemption.applications filed to
.date; 5.7% of the total 740 that are expected to be filed for FY93.
Inclusive in this figure is .17 deferrals that have been filed.
The exemptions acted on to date have totalled $109,658.25. The
total of the 17 deferrals is $31,850.,64. The total amount of the
overlay reduction by the exemptions is $109,658.25 (52%) of the
estimated $210,000..
4. The FY1993 Overlay Account is $377,663.54. To date, the sum total
of the Exemptions and Abatements is $122,103.s4.(as an estimate)
This leaves an effective overlay balance of $255,529.34.(estimate)
The free cash account., charges for all of the Deferrals, is to date
effectively charged'with $31,850.60.1
5. The Auction of The Reading School House was apparently a success,
given local rumors. All of the.' units were sold, with successful
bids ranging from $76,000 (one bedroom unit) to $137,500 (larger
style two bedroom). The minimum bid price.s.on these units
were $55,000 to $85,004 respectivgly.