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1993-02-08 93-148 ORDER
Date 0208-93,ion Item No. 93-I48 MM, 1Y Darc of Autla for 18st Assessor's Cfffce Item/Subject: Taus Assessor Responsible Department: Commentary: ltds trsnsfsr is for p idi amsiclia apraa t sce to the mast Aeeeae o Sn daferding ar 'nst tact atrxarent appeals. To &Ui, W Assessor's Dffica Isas xece y sshauatsd i $5,000 approved in 9-92 and rWerded agairat $158,800 fn affitHd3Lt rBgue and appeals. There aria sevevl large alvtarent L paeet periding £or which hese fsuxls will be sssed To defend th Tax Psaesers's actimt. the Fiance Camttteexevie i this iWn on 2-3-93 ani Its apjpv 4s0. meumnenr xaee Manager's Comm rsu: "COMCO i✓/L �k'i .✓ C:rymvwgn Associated! Informatjggpy, tasqp Budget Approval: Lega/ll Approval: s roe ! s„ r{ Is ✓e ,<s - ywprn5p Ci a n�m�f% � �dJnS amen Y C:ssor,L;'a.. ,.'eP{$ is criflr4/ /o rcY[fV4 P dl j' 5 X/ ri X bOM I4�6n Ll n sareA Ano( r mol mid Introduces] For e5f&n Hal mops vtn .rva'JPIf{e5_ ' Pmsage V First Reading Page _ of Referral 93-168 Meisned to ConncOor Saul, February 8, 1993 CITY OF BANGOR (TITLE.) (Orba------- __awaLwrLy.flyds. w xax. Bs�ts..Cffi __. By t" City Cowt4B of MV Of By . OBDEWMV TBA? $5,000 f hezeby trare£erzsl frmt Lite Cw, �B t (13-14-0].05) W the Tax Aea t=ls Acc (10-06-03.01) foroacs assisranca is dafaitliag a7tixret tax aWTr$ent aa . V IN CITY COUNCIL ,1 February 8, 1993 Passed Mev' CITY LERK } 93-148 ORDER Tine, Transfers Funds to the Tex Assessor's Q ........................ Office ....................... �1W/01 Aedpud to Tic SKI ............... 4...................... Councilman 93-148 CITY OF MAINE Tar. aore.a.aaa January 25, IM FROM: Chy Assessor, B jamin F. Birch Jr RE: AbatementUpdate TO: City ofBernier F ante Committee On August 19, 1992, I presented to tw Finance Comndttae the need to hive outside uamunce'm help ME assessor w ptspazmg materials for abasetnmt hearings which go What Ne Local Board of Property Tax Review or the State Board of Property Tax Review. Assistance request was imnatedfor the purpose of holding down the number of abrtererem requests being received from wmmerciw property, oamers. These abatement requests are premised on the Income Approach to value. The Finance Committed Supported the ususots request that outside assistance be sough w certain highly technics! assessment reviews. The Finance Committed approved $5,000 for techwc d resistance. Funds width were originally granted for this purpose will be exhausted in preparation for the Maple Hill Townhouses, Inc., Loeal Board of Assessment Review Hearing The Assessor is requesting thus an additional 55,000 be made available m continue outside assistance for appeals hosanna. Abatement Status as of Jamemary 22,1993: Merchmus Plate and Porteous Department Stene appeals have expired. Both petifionda had 60 days m Lle appeals m the Smm Board w'Property Tax Review. The 60 day time period has passed. Maple FLIT TOwwo mes Inc., has been dewed aM abatement by the assessor and has appealed the assessoes decision under 36 M.R.S.A Seetion 841(1). The Law Board of Property Tax Review beg hearing the appeal on January 14 and has continued the _ hearing to February 11, 1992. At the January hearing, the petitioner presented outside appraisal wfomiadm which the assumr lad rent seen m reviewed. This new information wu sero be Mr. Chapman fdr review. (This will exhaust the funds that were originally provided for outside as®slance). Mr. Chaperon may be needed to reality at the Fehruary 11, 1993 meetj. Income Approach. An abatement of $47,000+ is being sought by Ne petitioner Maw Central Railroad, has been laded and shamed by the assessor and has appealed the assessors decision . The appeals hearing is scheduled for February 3, 1993. TW; appeals process loader in be settled ware City's behalf. Applicant did not submit the abmemmtcequest wiNw ddeprived specified w slams. Both the auusm ami ts. board of property tax review are deprived ajmiediction to as an such abmement requests. 93-148 Valentine School Pontoons, 136 Union Sheet bas been denied and abatement by toe assessor on January 6, 1993. Apphcard hat 60 days to ©e an appeal. Assessment 465,%0, Cvmels Common ofvalue: 300,000. Income/Cash Flow. Fel& G. Realty Trust, 4 Union Street has bean denied and abmemmt by the assessor on Jammy 6, 1993. Applicant bas 60 days to file an appeal. Muessmmt 526,000, Ovmels Opinion of value: 400,000. IncomdCash Flow. Felix G. Realty Trost, 242 Mount Hope Ave, hsa been elected and abatement by the assessor on January 6, 1993. Applicant bas 60 days to file an appeal. Assessment: 478,3K Ownels Opinion ofvalue: 300,000. Income/Cash Flow. Hasson Park Associates, 157 Park Street, has been domed and abatement by the assessor on January 6, 1993. Applicant Into 60 days to file an appeal. Assesamem: 603,900, Camels Opinion of value: 400,000. IncomelCmIt Flaw. State Street PaMeabip, 263 State Street, has been denied and abatmnemby the assesses on Jmmmy 6, 1993. Applicant has 60 days to file an appeal. Asusmem: 563,200, Ownels Opinion of vow: 425,000. Income/Cash Flow. Peoples Heritage Bank, has been denied an abatement by the assessor. Assessment : 1,149,400, Owners Opinion of value: 525,000. Asses r issued and abatmnent lowering valuation to 987,400. Assessor has not heard back from applicant Income Approach. Temnbamn At Associates, ERG Rutty Trust, has been denied an aleaurnem by the amussor. Assesammn 2,769,600,,homer£eebtlutproperryisovervaluedby250,000. Assessor has not heard back from applicant. Income Approach Found & Company, have suhnutned two abmement requests, (1) 15 Main Sheet, Asaessmmt 1,760,600, Owners Opinion of value: 1,472,000 and (2) 75 Exchange Street, Assessment: 2,499,800, Owners Opinion of value: 1,364,200. Pending assessors action. Income Approach - Chmles Fitzgerald, has suMdtted ban abatement requests both have been denied by the assessor. (1) 74 Main Street, Assessment: .1,213,700, Owrren Opivim of value: 500,000, C2) 28 Broad Street, Assessmmt 370,000, Owners Opinion of value: 220,000. Under the present abatement process with outside assistance which costs $5,000 the city has benefited by saving $159,800.00 in abmemmtr.