Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance director and assessor seek $40,000 appraisal fund after Milford Power pilot expires
Summary
Finance Director Peter Arredici and Assessor Marcus Eric told the Board of Finance the 2015 pilot agreement with Milford Power Company expired Oct. 1, 2024; they recommended an immediate appraisal to value the company’s real and personal property and asked to increase the revaluation operations line to cover the work.
City Finance Director Peter Arredici and Assessor Marcus Eric told the Board of Finance that Milford Power Company declined to renegotiate a long‑running pilot agreement that expired Oct. 1, 2024, and that the city needs a specialized appraisal to determine fair market value for tax assessment purposes.
Assessor Marcus Eric said the pilot had been renegotiated in 2015 and expired in October 2024; Milford Power’s representatives have indicated they prefer to be assessed under the normal tax valuation process rather than extend a pilot. Eric recommended a two‑phase appraisal from a specialist firm to establish a defensible valuation.
“The first phase is the part that I really want to get to,” Eric said, describing phase one as a documented valuation and methodology that can stand up to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
