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Assessors: personal property and vendor audits make up a large share of Franklin's new growth
Summary
Assessors told the subcommittee that much of Franklin's recent new growth arises from personal property accounts and that the town relies on a specialized vendor (RSC) and cyclical audits — at least 20% per year aiming for a five-year cycle — to capture business assets and inventory.
Committee members pressed the assessors on what counts as personal property and how the town audits business accounts.
"Personal property is either, new items or, a new account," Kevin said, explaining that equipment, machinery, furniture and inventory can be locally taxable. He said the town has used a contracted vendor, RSC, for many personal-property accounts and that the vendor has long experience across Massachusetts.
Kevin described the audit practice: a cyclical review that targets a minimum of 20% of businesses each year so the program reaches roughly 100% over five years, supplemented by declaration requests to business owners and on-site appraiser visits. The vendor applies consistent depreciation tables and the assessor team performs exterior and, where necessary, interior verification.
Committee members asked whether the audit selection could be made less arbitrary; assessors replied that a mix of targeted and random sampling is used and that practical choices are made to ensure consistency and fairness. Members asked staff to return with more detail about audit selection and the potential revenue impact of widening audits.
