The revaluation is needed to make sure the town complies with state regulations
WOODSTOCK – For the second time in five years, voters at the March annual town meeting will be asked to authorize selectmen to enter into a contract with O’Donnell Associates of Auburn to revalue property for tax purposes.
Town Manager Vern Maxfield said the cost will be less than the 1998 revaluation, which ran a bit over $50,000, because this time no home visits will be made.
“O’Donnell has offered to do an across-the-board reassessment of all properties based on today’s market values,” said Maxfield.
“The cost proposed is a flat fee of $20,000 and covers a complete revaluation except for home visits. The assessments will be based on current market values for each all properties and will bring the town in line with state assessing standards,” he said.
He said the revaluation is needed to make sure the town continues to comply with state regulations.
Reimbursements such as state revenue sharing and school assistance funds are linked to formulas that depend in part on property values. That means the town’s assessment values must top 90 percent.
Woodstock’s assessment values fell well below that figure in 2004.
Board members said they see the need for the revaluation and were pleased with the price.
“I was surprised with the price O’Donnell quoted us and feel he has done a very good job at presenting a plan. We don’t have any choice but to go ahead because things are going to get even worse in the future the way houses are selling today,” said Selectman Leon Poland.
Colleagues Percy Monk and Steve Bies also saw the need, although, Bies said he still had some reservation about adding the extra money to the 2004 budget.
The revaluation, if approved by voters in March, will be completed prior the annual tax commitment date next summer.
Maxfield also announced that the town’s annual Christmas tree lighting program is scheduled for Friday. The program will begin on the town common on Main Street at 6 p.m.
After the lighting, people will move to the Woodstock Elementary School on Rumford Avenue where refreshments will be served and children will have a chance to visit with Santa.
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