During the discussion, the board noted that the tax rate increase marks the first rise in several years, albeit a modest one. The report highlighted that Newbury’s growth has dropped to approximately 30% of its three-year average, with a current figure of $73,000 compared to the typical range of $200,000 to $238,000. The slowdown in new development projects, such as the delay in the Cricket Lane and 34 Central projects, was attributed as a primary reason for the reduced growth rate.

The meeting also addressed a concern from a real estate professional about a property on Handover Street. The professional reported discrepancies between the listed square footage and public records, claiming the property is recorded as 500 square feet larger than its actual size. The Board confirmed adjustments were made to the records based on external measurements, though internal verification was pending due to restricted access.

Additionally, the discussion touched upon the town’s decision to maintain a single tax rate without adopting residential or small commercial exemptions, given the insufficient commercial base to justify a shift. The Board emphasized the need for transparency and accuracy in property assessments, encouraging property owners to facilitate access for thorough inspections.