Assessors present modest interim valuation changes, set classification hearing

The director opened the assessors' update on interim year adjustments, saying the department had submitted required forms to the state and was awaiting approval.

"The median percent change is 2 and 1/2% for the 101s, the single families, 2 and 1/2% as well for the 102s, the condos, and 1.7% for the commercial, industrial, manufacturing," the Director said. Staff reported LA-3 and LA-15 filings had been sent to the state and that a separate growth-spreadsheet report would follow later in the week.

Why it matters: the submitted values will be the basis for the upcoming classification hearing, which staff said is scheduled for Monday at 5:30 in the adjacent meeting room. The hearing will determine how property values translate into class tax rates and whether to recommend state-authorized exemptions to the select board.

Board members asked procedural questions about timing and the vendor/state approval process. The director emphasized that some elements — especially any growth allowance that factors into the levy limit — depend on state review and the vendor’s timing, so the figures presented are pending final state approval.

The board did not take final rate actions at this meeting; materials were prepared for the select board and for the public classification hearing next week.