 |
Advisory Committee Present: Terry Abdalian
October 22, 2103 Randy Dinjian
Bob Czekanski
Connie Benjamin
Mike Zelenkov
Brad Cote
The Advisory Committee met at Town Hall at 5:30 p.m. and joined the Board of Assessors at their meeting at 6:00 p.m.
The Board of Assessors discussed the FY2014 Tax Rate Setting progress with Advisory Committee members. The Board of Assessors presented the FY2014 Assessment Classification Report (LA4), the Tax Base Levy Growth FY2014 (LA13), the Fiscal 2014 Tax Levy Limitation for Bolton, the Overlay Worksheet for Fiscal 2014 (OL-1), and the Allowance for Abatement as of October 15, 2013.
2014 New Growth is estimated at $307,672. The Overlay Reserve is $162,136. The estimated tax rate for fiscal 2014 is $21.20, an increase of $.24 (1.15%) from fiscal 2013. Excess 2014 Levy Capacity is $236,391, calculated as follows: Maximum Allowable Levy of $18,758,569 less Estimated Levy of $18,522,178. The estimated Levy is calculated as follows: $21.20/1,000 times Real and Personal Property value as of January 1, 2013 of $873,687,629.
On a motion made by Dinjian and seconded by Cote, the Advisory Committee voted to recommend to the Board of Selectmen that any excess levy capacity as identified by the Board of Assessors not be used in setting the FY2014 tax rate. (Abdalian – yes, Dinjian – yes, Czekanski – yes, Benjamin – yes, Zelenkov – yes, Cote – yes). This motion will be communicated to the Board of Selectmen via Don Lowe before their November 12, 2013 meeting at which the Tax Classification Hearing is scheduled.
On a motion made by Cote and seconded by Dinjian, the Advisory Committee voted to adjourn at 7:00 p.m. (Abdalian – yes, Dinjian – yes, Czekanski – yes, Benjamin – yes, Zelenkov – yes, Cote – yes)
Respectfully submitted by Terry Abdalian
| |
