At the forefront of the discussions were the changes in property values across different classes, including vacant land, residential, commercial, warehouse, and apartment properties. The increase in commercial market appreciation over the last two years, particularly, was a focal point, with attention drawn to how commercial property value trends might influence future tax rates. The council members probed into the specific examples of properties that had shifted from vacant to occupied status and the subsequent changes in tax assessments they would entail.

The conversation also turned to the top earners in tax payments, with apartment complexes and commercial areas being the most significant contributors. The growing presence of apartment complexes in this group prompted the council to reflect on the historical pattern of top taxpayers and the effect of this shift on the town’s fiscal health.

Another topic was the uniform tax code and its application to property tax assessments. The council clarified that all properties are assessed based on market conditions, with commercial properties facing additional special district taxes. The meeting included elucidations on the frequency of residential tax reassessments, which occur annually with 20% of the properties inspected each year, culminating in a full reassessment every five years. This ensures that assessments reflect current market values and sales activity. The council provided insight into the assessment process with examples from local businesses like Country Griddle and The Toy Kingdom.

The council also discussed the impact of building permit regulations and the challenges they pose in tracking renovations by homeowners. They touched on the state’s senior and veterans’ tax freezes, emphasizing the responsibility of individuals to apply for these benefits to be eligible for them.

In addition to property taxes, the council addressed dwelling abatements, tax exemptions for veterans and seniors, and the intricacies of qualifying for such exemptions. The potential effects of Airbnb and vacation rental properties on home assessments were brought up, highlighting the challenge in detecting such properties and their subsequent influence on property values.

The limitations faced by the municipality in crafting its tax code were noted, with an emphasis on the need to comply with state laws. This was particularly relevant in discussions about passing ordinances related to abatements and the exploration of pilot programs for large commercial projects.

The assessment of rental properties, especially larger complexes, was scrutinized, with the assessor detailing the use of income and expense statements, capitalization rates, and the influence of rent increases on property values. The impact of ordinance changes that allow for expansions or additional structures was also considered, acknowledging that such flexibility could elevate property values.

Furthermore, the council sought a more concentrated focus on how assessments impact the budget, particularly in light of non-taxable properties like those owned by non-profits or the public sector. The importance of inspecting exempt properties yearly to prevent misuse and accurately determine their value for tax purposes was underlined.

The topic of property approvals and their effect on assessments was broached, noting that such approvals could lead to assessment adjustments.

Efforts to reassess properties whose usage has changed were ongoing, with the budget including a line item for uncollected taxes. The meeting alluded to discussions with the budget officer about upcoming budget considerations and saw the introduction of an ordinance related to the Liberty Village Redevelopment Plan, with a public hearing scheduled for March 25th.

Lastly, the council addressed administrative matters, such as authorizing the hiring of a temporary electrical official and referring ordinances to the planning board for review. These discussions, while less prominent than the tax and budget considerations, are part of the council’s routine governance responsibilities.