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June 18, 2017: With resolution of pending Appellate Tax Board Cases with Verizon New England and 400 Boston Road, the Wayland Board of Assessors voted at their Monday evening meeting to release $508,000 from the Overlay Account.
The Overlay is an account to fund anticipated abatements and exemptions of committed real and personal property taxes. The Board of Assessors monitors the Overlay Account throughout the year as Appellate Tax Board Cases and other liabilities are closed out. Once the Board of Assessors determine that no additional exposure is pending excess overlay is determined, certified and transferred by vote of the assessors to a Fund Balance Reserved for Overlay released by the Assessors.
If you have any questions, please contact Ellen Brideau, Director of Assessing.
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