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Needham assessors preview classification hearing as residential values dominate; open-space classification appears for first time
Summary
At a Nov. 20 Board of Assessors meeting, Chair John Bullion and staff member Julie said residential property now accounts for roughly 88.1% of the town's assessed value, noted the addition of a small open-space classification this year, and flagged unusually low commercial new growth ($64,600) versus strong residential growth.
John Bullion, chair of the Board of Assessors, opened the Nov. 20 meeting and said the board will appear before the Select Board for a classification hearing next week. Julie, a staff member who presented the department’s analysis, told the board that roughly 88.1% of Needham’s assessed valuation this cycle is residential and that the town has recorded open-space classification for the first time after a recent sale.
Julie provided a class-by-class breakdown, saying open space accounts for about 0.012% of valuation, commercial roughly 8.26%, industrial about 1.03% and personal property about 2.6%. She…
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