BUCKFIELD — The Select Board approved a contract Tuesday with KRT Appraisal of Haverhill, Massachusetts, to conduct a “just value” appraisal of the 1,415 properties in town by Aug. 9, 2024.
Terms of the contract will go into effect if residents approve the money at a town meeting Aug. 16.
Residents will be asked to appropriate $145,000 to complete the full revaluation, which has not been done since the late 1970s, according to town officials. The payments will be spread out over three years, with the final payment of $45,000 due by Sept. 1, 2024.
According to the 11-page contract, the purpose of the revaluation is to “verify and update all data by providing a full measure and list of all tangible real property within the municipality together with the owners of record as of April 1, 2024” and to “establish ‘just value’ appraisals of all tangible taxable real property” in the town by April 2024.
KRT will be fined $100 per day if the process is not completed by Aug. 9, 2024.
The revaluation would bring all properties up to fair-market value. The lack of a recent revaluation has been detrimental to the town, officials have said previously, because the town does not receive its full share of state revenues because property values are out of date.
In other business during the 24-minute meeting, the shortest Select Board meeting in recent memory, Penny Horsfall was reappointed to the Budget Committee for two years.
The board postponed action on a request from the Historical Society to extend its lease for five years after it expires Aug. 31, until after the town meeting. Current policy does not allow for lease agreements longer than one year, but one of the warrant articles on the ballot next month would allow for agreements for up to three years.
Absentee ballots for the town meeting vote are available at the Town Office.
The board met for several hours over four nights last week to finalize the warrant.
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