FM #1784 - Economic Development Subcmte Mtg - 07/23/26

The Economic Development Subcommittee met on Thursday, June 23, 2026 as scheduled. Committee Chair LeBlanc, members Morrongiello, Malloy were present for this session, Griffith was absent.

Quick recap:

• Director of Assessors Kevin Doyle read a prepared statement for the record outlining the assessment process
• Questions from the committee members
• the focus of the discussion on new growth is due to its impact on the financial revenue available above 2.5% (and the levy limit)
• really to better understand the valuation process and how to make improvements as possible
• question on a possible timeline for a permit through to the assessment and re-evaluation; response included mention of a subscription to aerial photos of the Town 3x during the year to help identify what is happening around Town, trying to get an answer on an avg time line but it is not forthcoming
• the two approaches for commercial valuations come within 5-10% plus or minus of each other; course 101 from the Dept of Revenue provides the basics
• 2 properties in the same neighborhood should calculate to the same, based upon the tables (I.e. property card records) and MA process
• is there an audit to see that we are covering what should be? Effectively, no - audits wouldn't necessarily be fair and equitable for all
• question about the Senior means exemption, will get the info asked for
• question on an ownership change, if the new owner transaction brings that amount into new growth, does that really overstate our assessed value? as the old owner's assessed value goes away from the total assessed value? or does it? We understand the question, we need to get back to you on the right answer
• Another example - residence valued at $900k, renovation of $40k, new assessed value comes at $1M but the $100k increase is 'only' $14k of new growth and the balance is the market value; Answer: don't confuse the market value with the cost of the renovation, it is not a straight linear line

The meeting runs about 1 hour 45 minutes.

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Franklin TV video is available for replay - https://www.youtube.com/live/PJlxSRZebX0?&t=91

The meeting agenda and released documents - https://www.franklinma.gov/AgendaCenter/ViewFile/Agenda/_07232026-2422

My full set of notes captured in the meeting

https://drive.google.com/file/d/1E5RSt7sJdi_34C3soFiPJHoNlikm8ioc/view?usp=drive_link

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