1.
All records, recorded sales and
new building permits, additions and renovations are being reviewed
2.
Road side drive-bys are taking
place throughout town.
3.
The focus of the drive by is on
changes, additions, construction, sense of quality, site value evaluation
4.
Building sales/transfer analysis
and evaluation of selling trends is being factored in process
5.
The physical work will be
completed in April-May time frame
6.
Changes to properties and sales
trend analysis will be loaded into a computer program designed to accommodate
the process. The program is a nice step forward in terms of future analysis.
7.
The computer will provide some
initial hypothetical values that will be further reviewed by RJD
8.
There will be a further overview
and review of the support data presented to the selectmen
9.
Early to Mid-July a tentative mil
rate and "mock" commitment will be established
10.
Resultant data will be firmed up,
notices will be sent to residents as to new values, new mil rate and property
tax. This will be around August.
11.
In August, the assessors will
then be available to the residents to discuss their individual concerns &
questions
12.
We expect based on trends in
other towns 15%-20% will have concerns or questions
13.
The rule of thumb for property
taxes is 1/3 go up, 1/3 stay about the same and 1/3 will see a decrease, but
this has been a hot real estate market over the last several years.
14.
Difficult issues regarding Real
Estate Taxes are (a) the County is looking at 30% increase related to
Northport's contribution and (b) SAD 34 is shopping around for a 6.5%
increase.
15.
Combined County and SAD real
estate tax contributions will hit $2,500,000.00.
