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Select Board asks consultant to re-evaluate valuation on affordable‑housing property abatement
Summary
The board delayed a decision on an abatement for 5 Balsam Lane after the town assessor and outside consultant (KRT) gave different fair‑market valuations; staff will ask KRT to reconcile its recommendation and produce comparable analyses for other workforce‑housing properties.
The Select Board declined to act on an abatement request for 5 Balsam Lane after town staff reported conflicting valuations from the town assessor and the town’s consultant, KRT.
Town staff said the property is subject to an affordable‑housing covenant and that KRT had provided a fair‑market value that differed materially from the assessor’s calculation. The assessor (Adrian) recommended denying the abatement, while KRT’s initial analysis suggested the fair‑market value could be higher than the property’s assessed value. Board members described the matter as a case of "dueling experts" and requested that KRT review and update its recommendation in light of additional information provided by the assessor before the board decides.
Staff asked for consistent methodology and for KRT to provide updated valuations for all properties subject to the workforce‑housing restrictions so the board can compare a professional recommendation, the restricted sale price and the assessed values. One board member noted that state changes and anticipated development in affordable housing make it important to settle a consistent process going forward.
No vote was taken; the board asked staff to return the reconciled analyses at a future meeting.
