HomeMy WebLinkAbout2016-12-19 Finance Committee MinutesFINANCE COMMITTEE MINUTES
December 19, 2016 @ 5:15 pm
Councilors in Attendance: Baldacci, Weston, Sprague, Nealley, Nichols, Graham,
Faircloth
Staff in Attendance: Cyr, Conlow, Emery, Drew
1. Disposition of 4 Mill Street
Motion made and seconded to recommend disposition to the City Council. Motion
passed unanimously.
2. Assessors Update — Homestead Exemption Review and Personal Property
Assessment Packet
The City Assessor updated the Committee on a recent project to verify homestead
exemptions. A number of exemptions were removed. Assessing also created a form to
remove the exemption and will incorporate this process into their day to day changes as
well as revisit annually.
The City Assessor apprised the Committee of new information that will be provided to
business equipment tax payers. If a listing isn't provided by the taxpayer, the taxable
base is automatically increased by some percent. This year the taxpayers will be
notified how much that increase was. It is an attempt to receive more completed forms
and enable us to provide information regarding the BETR and BETE programs that the
taxpayers might be eligible for. Councilors indicated that the forms are long and
arduous requiring a lot of time, effort and detail. The City Assessor shared that personal
property taxes are required to be assessed by State Statute. It was noted that personal
property generates approximately $4.8 million of tax revenue.
Meeting adjourned 5;43 pm