Mayor & Commissioners Special Meeting June 9, 2014

Mayor and Commissioners Special Meeting

Regarding the Reassessment Process

June 9, 2014

 

The Mayor and all Commissioners were present except Commissioner Hunker.

 

The Mayor opened with a review of the reasons to conduct a reassessment, the City's first citywide assessment since 1968.

 

Commissioner Gossett reviewed the process of selecting a professional assessment firm. An RFP was issued by the City, and two firms bid on the work. Commissioner Gossett also reviewed all the extensive public outreach and communication efforts conducted by the City throughout the process.

 

A presentation was given by the assessment firm, PTA/DelVal, regarding the process of reassessment, reviewing how they reached valuations and the appeals process. The assessors described their extensive analysis of the data gathered from field observations and their use of the data from all real estate sales in the City since 2010. Questions from the commissioners included:

            - how the assessors calculated land value and how it differs from block to block

            - the challenge of valuing condominium units

            - methodologies for valuing properties with multiple residences on them

            - the difference between appraisals and assessments

 

They assessors reviewed a map of all property values within the city, showing land value for each property. It was emphasized that the goal for the reassessment is equity, and that it has largely been achieved through the City.

 

The Commissioners approved the procedures that will be followed for the formal appeals hearings, which will be heard on June 19 and 20 by the Mayor and Commissioners, acting as the Board of Appeals. There are 61 properties whose valuations will be appealed. Following the appeals, the assessors will take all the information presented and then submit recommendations on each case. The Board of Appeals will then reconvene for a final valuation determination of those cases.

 

In order to have all the appeals completed before the tax rate is set, the Mayor and Commissioners will consider a motion at their next regular meeting to set the tax rate at their regular meeting on July 18, making taxes due at the end of September.