GEORGETOWN — Representatives from the Assessors Office met with selectmen Monday to discuss tax classification options.
The actual tax rate will be certified this week by the state Department of Revenue, and selectmen will vote Monday on the different options. Until then, assessors declined to give a prediction on the new tax rate, except to say it will likely rise.
Assessor Tom Berube explained that there are four different tax exemptions available, but the public hearing before the selectmen is a formality since Georgetown does not qualify for any of the exemptions.
Berube said Georgetown is also going through a triennial certification process. "We are very close to being certified, and I'd suggest you defer votes until after the certification. I also recommend that you vote 'no' to all four exemptions," he said.
The four exemptions include an open space discount; a residential exemption; a small commercial exemption; and a split tax rate classification, said assistant assessor Jay Ferreira.
"Open space is land maintained in an open or natural condition that contributes significantly to the benefit and enjoyment of the public," he said. Restrictions to the exemption include forest land, farm land and recreation land. "The Board of Assessors has determined that Georgetown does not have any classified open space land."
Ferreira said that Georgetown would also not want to adopt the residential exemption, as that is typically only used in communities where 20 percent or more of the residential properties are not owner occupied, such as resort communities or places with large numbers of rental properties. "The adoption of this would increase the tax rate by $2.07 for all residential properties," he said.
Georgetown is not eligible for the small commercial exemption because the exemption would exceed the total value of properties in town, Ferreira said.
Lastly, selectmen could opt for a split tax rate, transferring some of the residential tax burden to local businesses. However, Ferreira said there is not a large enough commercial base in town for this to be advantageous. "The Board of Assessors recommends a factor of 1 for the tax rate," he said. This means that residential and commercial property owners will pay the same rate.
Selectmen will meet Nov. 30 at 7 p.m. to vote on the tax rate and the above four options.