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From YouTube: City Council Special Meeting 11-5-18
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B
B
C
Thank
you,
madam
president,
good
at
good
evening,
members
of
the
council,
so
I'm
going
to
do
a
brief
presentation,
an
overview
of
the
interim
evaluation
for
a
fiscal
year
19
in
an
hour
expected
tax
rate
for
FY
19.
As
you'll
see,
you
have
to
take
some
votes
on
this
rate
at
your
November
19th
meeting
we'll
have
a
public
hearing.
The
hearing
will
be
very
brief
and
then
you'll
have
to
take
two
votes
which
I
will
go
over.
C
The
presentation
I'm
gonna
give
tonight
is,
should
be
very
familiar
to
it's
very
similar
to
presentations
I've
given
in
the
past.
It's
really
quite
simple.
You
might
think
too
simple,
but
I
think
it's
helpful,
particularly
for
the
public
watching
on
TV
who
don't
really
have
immersion
in
municipal
finance.
So
this
is
very
simple
and
basic,
but
I
think
it'll
be
explanatory,
so
I
will
go
through
it
fairly
expeditiously
and
then
I
can
answer
any
questions
that
you
have.
C
So,
as
I
said,
this
is
basically
the
first
pod
is
I'm
just
going
to
give
you
an
overview
of
our
budget
and
taxes.
Remember
you
passed
the
budget
last
June,
that's
the
total
amount
of
our
budget.
That's
everything
we
need
to
raise
in
order
to
do
our
business
for
fiscal
year
19.
It
includes
all
the
appropriations
you
approved
in
June.
It
includes
all
of
our
water
and
sewer
budget.
It
includes
the
amount
we
set
aside
for
overlay
and
it
includes
all
the
charges
for
the
from
the
Commonwealth.
C
We
have
to
pay
all
of
this
money
in
order
to
meet
our
required
finances
for
fiscal
year
19.
So
how
do
we
raise
197
million
dollars?
Well,
as
you
know,
we've
got
three
main
revenue
sources.
The
first
is
state
aid
of
the
hundred
ninety
seven
million.
The
state
is
giving
us
eighty
nine
point,
two
million
dollars,
mostly
in
the
form
of
school
aid,
but
also
some
general
municipal
aid
as
well.
That's
eighty
nine
million
dollars.
C
Then
the
next
major
revenue
source
are
receipts:
motor
vehicle
excise
tax,
room,
excise,
tax
meals,
tax,
water
and
sewer
charges
and
building
permit
fees.
Those
sorts
of
things
all
of
that
adds
up
to
another
forty
nine
million
dollars
and
then
the
third
major
source
of
revenue,
besides
state
aid
and
local
receipts,
are
the
property
taxes,
the
taxes
that
residential
property
owners
and
commercial
property
owners
pay
for
a
property
that
they
own
the
city.
C
That
number
is
made
of
of
two
components:
one
is
sort
of
the
basic
number
what
you
are
allowed
to
raise
under
proposition
two-and-a-half,
and
you
add
to
that
new
growth,
new
development
that
generates
new
tax
dollars.
The
total
of
that
is
almost
58
million
dollars.
All
of
that
adds
up
to
that
number
right.
C
Nineteen
now
I'm
gonna
focus
on
one
of
those
which
is
just
the
taxes.
So,
as
I
said,
we
all
know
about
proposition
two
and
a
half,
but
what
proposition
two
and
a
half
means
is
that
you
can
only
raise
your
total
tax
levy
by
two
and
a
half
percent.
So
every
year
you
take
the
prior
year's
maximum
tax
levy,
and
in
this
case
it
was
fifty
four
point:
eight
million
dollars.
You
multiplied
about
that
by
two
and
a
half.
You
get
one
point:
three
million
dollars,
that's
new
taxes
that
we
can
raise
under
proposition
two-and-a-half.
C
You
do,
however,
add
to
that.
What
you
can
raise
by
way
of
new
growth,
new
growth
is
from
new
developments
that
occur
in
the
city,
as
I've
said
ad
nauseam.
It's.
Why
there's
so
much
pressure
for
cities
to
keep
developing,
because
new
growth
is
your
only
way
out
of
profit,
the
constraints
of
proposition
two-and-a-half,
so
that
added
another
1.6
million.
So
we
we
are
able
to
raise
a
new
tax
dollars
in
fiscal
year.
Nineteen
about
three
million
dollars.
C
C
That's
the
cap
that
two-and-a-half
imposes
on
the
city,
individual
taxes
can
go
up
and
all
sorts
of
different
percentages
they
have
no
limit
under
proposition.
Two-And-A-Half
proposition
two-and-a-half
is
a
total
tax
limit.
It
has
nothing
to
do
with
what
you
pay
in
individual
taxes
that
is
all
dictated
by
valuation.
What
the
value
of
your
home
is,
and
now
we'll
turn
to
valuation.
C
You
do
have
to
revalue
property
every
single
year,
but
in
certain
years
you
have
to
have
certified
valuations
and
in
certainly,
as
you
have
to
do,
full
comprehensive
evaluation
revaluation,
which
means
going
into
people's
homes
next
year
is
a
certification
here,
which
means
it's
a
little
more
work
for
us.
We
have
to
certify
values,
and
then,
a
few
years
after
that,
we
have
to
do
one
of
those
in
home
valuations.
That's
every
nine
years,
correct!
Okay!
C
So
next
year
it's
going
to
be
a
little
more
comprehensive,
the
valuation
we
have
to
do
and
it'll
cost
us
a
little
more
money,
so
the
FY
2011.
Therefore
our
valuation,
all
right.
So
why
do
we
have
a
valuation?
Well
they're
mandatory,
as
I
said,
do
I
will
not
let
you
set
a
rate
without
a
valuation,
you
have
to
do
it
on
an
annual
basis.
Every
five
years
have
to
be
certified
that'll
be
next
year.
Every
nine
years
is
the
complete
one.
C
So
just
a
little
bit
of
what
valuation
means
it
means
your
home
is
supposed
to
be
valued
at
full
and
fair
cash
value,
fair
market
value.
It's
basically
what
a
willing
buyer
would
pay
to
a
willing
seller
in
this
open
market,
and
so
just
that
the
one
thing
to
remember
when
you're
talking
about
me,
missable
valuations,
you
will
see
them
on
your
first
actual
tax
bill,
the
one
that's
mailed
on
January
1st
that'll
have
a
valuation,
the
new
valuation
419.
It's
for
FY
19,
it's
based
upon
what
we
think
your
home
was
valued
on.
C
As
of
the
previous
January
1st
January
1
of
2018.
That's
the
value
we
measure
for
fiscal
year
19!
So
it's
a
year
before
we're
saying
what
your
home
was
valued,
that
valuation
is
based
on
sales
from
calendar
year
17.
So
when
you
get
your
tax
bill
on
January,
1
2019,
that
new
valuation
that
the
city
has
given,
you
is
reflective
of
sales
that
often
took
place
18
months
before
so
municipal
valuations
always
trail
the
market
by
about
18
months.
C
So
if
values
are
rising,
your
valuation
on
January
1
of
19
won't
show
that
your
value
will
be
behind
the
curve
by
about
18
months.
If
values
are
dropping,
it
also
won't
show
that
your
value
will
be
probably
higher
than
your
homewards
actually
work
in
a
declining
market.
That
is
often
the
case
with
municipalities,
because
the
valuations
are
running
behind
the
market
cycle
by
about
18
months.
C
So
we
finished
the
valuation
we've
sent
our
values
in
to
do
our
they're
going
to
certify
them
relatively
soon.
We
have
no
reason
to
think
they're
not
going
to
certify
our
values,
and
this
is
what
our
new
valuation
has
shown.
This
is
the
increase.
It's
still
a
rising
market,
at
least
based
on
sales
from
calendar
year
17
and
that
column
for
FY
19
shows
you
how
values
are
rising
or
rose
in
that
year.
C
C
It
means
that
commercial,
industrial
properties-
if
you
take
this
vote,
which
you've
taken
for
the
last
generation
in
Chelsea
to
do
the
maximum
shift
to
commercial
industrial
property
owners,
it
will
mean
that
commercial,
industrial
property
owners
pay
1.75
percent
more
than
they
otherwise
would
have
paid
without
this
shift.
I
strongly
encourage
you
to
take
this
vote.
The
city
of
Chelsea
has
taken
this
vote
every
year
for
probably
the
last
30
years
and
I
would
encourage
you
to
take
this
vote
again
on
November
19th
to
shift
the
burden
the
maximum
allowed
by
law.
C
In
addition,
the
second
major
thing
that
you
do
is
you
give
a
residential
exemption.
Not
many
communities
do
there's
only
about
13
or
14
communities
that
provide
the
residential
exemption.
You
give
a
residential
exemption
right.
Now
you
give
a
residential
exemption
worth
twenty
seven
point:
five
percent
of
average
residential
value,
that's
the
percentage,
that's
in
effect
for
fiscal
year
18!
You
have
to
choose
a
percentage
for
fiscal
year
19.
You
can
choose
anything
between
twenty
seven
point:
five
percent
and
thirty
five
percent.
C
C
You
choose
so
this
shot
that
I'm
going
to
show
you
now
you
have
in
front
of
you
is
going
to
tell
you
what
it
basically
sets
forth
all
the
different
remaining
scenarios
that
exist
for
the
residential
exemption,
so
right
now,
you're
at
twenty
seven
point:
five
percent.
If
you
stayed
at
twenty
seven
point,
five
percent,
the
residential
rate
would
be
fourteen
dollars
and
seven
cents,
and
this
would
be
the
impact
on
each
of
these
various
types
of
residential
properties.
So
you
can
go
to
that
last
column.
You
can
see
how
much
they
would
increase.
C
What's
going
down
our
condos
and
that's
just
a
reflection
of
condo
values
did
not
rise
as
significantly
they
rose,
but
not
nearly
as
significantly
as
other
residential
parcels
rose
in
this
last
year,
and
so
they
would
get
a
tax
deduction,
a
decrease
in
their
taxes
next
year.
Even
if
you
stayed
at
the
27.5%
the
next
option,
the
30%
of
option
is
the
option
that
I'm
recommending
to
you
that
would
result
in
a
proposed
tax
rate
of
14
dollars
and
26
cents.
C
You
can
see
what
the
average
tax
bill
would
be
like
for
each
of
those
various
types
of
properties
and
what
the
difference
would
be
in
the
tax
bill.
So
if
you
adopt
the
30%
residential
exemption,
single
family
homes
will
go
up
only
$36
for
the
whole.
Yet
this
is
the
average
tax
bill.
Every
home
will
be
different,
but
if
you
average
them
all,
this
will
be
the
increase
for
single
families.
The
condos
will
drop
by
almost
280
dollars
to
families
be
up
to
43.
3
families
will
be
paying
another
$449
a
year
in
taxes.
C
Under
this
scenario,
and
then
you
can
see
the
other
two
scenarios,
obviously
the
higher
the
residential
exemption,
the
more
beneficial
the
impact
is
on
average
tax
bills
for
each
of
these
parcels,
but
as
I
say,
the
downside
is
you
have
nothing
left
in
your
quiver
for
next
year
or
any
year
after
that,
so
I'm
recommending
this
30%
option,
which
it's
for
certainly
for
singles
and
condo
owners
is
a
very
modest,
is
for
condo
owners.
This
is
very
good
news
for
single
family
home
owners.
This
is
a
very
modest
tax
increase
for
even
for
two
families.
C
C
C
Now
I
do
want
to
mention
the
other
assistance
that
we
provide.
In
addition
to
the
split
tax
rate
and
the
residential
exemption,
you
do
offer
pretty
healthy
exemptions
if
you
qualify.
These
are
mostly
senior
exemptions,
but
this
is
the
cause
17
II.
These
are
the
requirements.
This
is
an
exemption.
It
has
a
high
age
limit.
You
have
to
be
70
years
or
older,
but
it
doesn't
have
any
income
limit.
C
You
can
make
as
much
money
as
you
wish,
but
it
does
have
an
asset
limit
which
gets
adjusted
each
year
for
inflation,
and
this
exemption,
without
the
doubling
that
I'll
talk
about
a
minute
is
worth
one
hundred
and
eighty
seven
dollars
this
year.
This
exemption
goes
up
a
little
bit
each
year
by
the
rate
of
inflation
and
then
the
second,
a
more
significant
exemption
that
you
offer
is
the
cause
for
t1d
this
you
don't
have
to
be.
Seventy.
You
only
have
to
be
65
to
qualify
here.
This
is
worth
a
lot
more
money.
C
That's
very
beneficial,
which
is
you
double
the
value
of
all
the
exemptions,
so
that
thousand
dollar
exemption
really
is
worth
two
thousand
dollars
provided
you're,
not
paying
less
taxes
than
you
paid
the
year
before,
and
you
do
the
small
commercial
owners
exemption,
which
means
that
if
you
have
personal
property
as
a
commercial
owner,
that's
valued
at
under
ten
thousand,
you
are
fully
exempt.
You
don't
pay
any
personal
property
tax,
personal
property
tax.
You
still
pay
real
estate
taxes,
but
you
are
exempt
just
keep
in
mind.
This
is
a
hard
cap
10,000.
C
So
if
you
are,
property
is
worth
10,000
and
$1,
you
pay
full
property
taxes,
correct,
that's
right
and
that
I
think
is
just
about
it
other
than
what
happens
next
and
what
happens
next
is
November
19th.
It's
the
tax
rate
classification
hearing
you'll
have
the
final
certified
figures
from
dor.
The
numbers
will
may
change
by
a
penny,
or
so
in
terms
of
the
tax
rate,
but
I
wouldn't
expect
any
deviation
beyond
that
and
you
have
to
take
two
votes.
C
The
first
vote
is
to
shift
the
maximum
burden
to
commercial,
industrial
and
personal
property
quacks
classes,
and
we
always
recommend
the
maximum
shift
of
175
percent
and
then
the
residential
exemption
again,
the
max
is
35
percent
I
would
recommend
30
so
that
you
still
have
opportunity
to
further
increase
that
next
year
in
the
years
after
that,
you
certainly
don't
have
to
go
to
30.
You
can
actually
choose
any
exemption
between
20
and
35.
C
A
C
You
have
adopted
this
provision
in
the
law.
That
basically
says
you:
can
the
statutory
values
of
the
exemptions
can
all
be
doubled
and
you've
done
that
you've
accepted
that
Local
Option
provision
that
basically
provides
peace
of
Chelsea
would
double
the
value
that
these
statutory
exemptions
otherwise
would
provide.
So,
whereas
the
seventeen
D
exemption,
if
we
go
back
to
that
page
this
year,
that
exemption
is
worth
a
hundred
and
eighty
seven
dollars,
but
in
Chelsea
that's
worth
double
that
that
comes
up
to
three
six
three.
Seventy
four,
if
that's
math,
is
correct,
and
so.
C
That's
worth
in
the
city
of
Chelsea
you've
adopted
this
local
option.
You
only
have
to
adopt
it
once
you've
adopted
it,
and
so
it
means
that
everyone's
exemptions
get
doubled.
So
the
thousand
dollar
exemption
for
seniors
who
qualify
for
that
exemption.
It's
not
easy
to
qualify
for
it
has
strict
eligibility
requirements,
but
it
would
be
worth
a
thousand
under
the
statute,
but
it's
worth
two
thousand
and
Chelsea.
C
Now
there
is
a
limitation
which
is
you
can't
pay
less
taxes
than
you
paid
the
year
before,
so
you
have
to
at
least
pay
no
matter
how
much
you're
getting
in
exemptions.
You've
got
to
at
least
pay
in
taxes
what
you
paid
the
year
before.
So,
if
somehow
all
these
exemptions
that
you
get
the
residential
exemption,
this
doubling
of
the
thousand
brings
you
in
a
particular
year
because
of
your
specific
valuation
of
your
property
below
what
you
otherwise
paid
us
last
year.
C
E
E
E
C
C
G
It
goes
to
the
same
way.
You
said
earlier
two
and
a
half
that's
overall,
but
then
we
shift
it
to
wherever
we
decide
the
city
is
gonna
shift
it
to
that's,
not
we're
always
saying
we
want
to
keep
tenants
here.
You
keep
shifting
it
to
the
same
ones.
The
tenants
will
be
gone
because
the
same
ones
I've
been
here
all
the
years
that
I've
been
here.
There
hasn't
been
one
year
where
it
hasn't
been
shifted
to
the
same
person's.
The
same
dwellings
have
always
got
the
same
amount.
G
C
That's
just
purely
a
function
of
valuation,
so
every
year
you've
been
here
every
year,
I've
been
here
valuations
for
multifamily
dwellings
have
been
rising
faster
than
valuations
of
single-family
homes
and
condos.
So
every
year
those
people
have
been
absorbing
more
and
more
of
the
total
tax
levy,
because
their
values
are
rising
faster
than
that
other
valuations.
Now
one
interesting
thing
that
has
and
this
year
is
that
know
why
department
buildings
did
not
go
up
much
in
value
so
lodge.
C
G
G
$36
a
year,
so
if
they
went
skyrocketing,
why
is
this
so
low?
Do
you
say
you
assess
it
on
the
property
value
according
to
how
much
your
houses
go
up
right?
Well,
the
single
family
went
skyrocketed,
went
to
three
hundred
twenty
one
thousand
for
single
family,
but
they
increase
the
increase
catch
up
to
the
rest,
because.
G
C
G
By
value
a
Shahir,
the
single
family
went
skyrocket
compared
look
at
the
three
two
and
three
it's
four
hundred
and
fifteen.
That's
for
two
and
at
three
five
hundred
something
right.
The
single
is
three
twenty
one,
so
it
increased
by
what
fifty
percent?
What
was
it?
Last
year,
two
hundred
and
seven
one
thousand
four
single
now:
what's
what
was
it?
Three
hundred
no.
C
C
G
C
Which
residential
exemption
you
choose
that
will
determine
the
rate
so
depending
upon
which
exemption,
which
is
how
much
you're
going
to
exempt
for
of
the
total
value
for
residential
properties.
That
will
determine
what
the
tax
rate
is.
The
higher
the
percentage
of
residential
exemption.
The
higher
your
tax
rate
is
going
to
be
over.
G
G
C
C
C
Yes
and
that
three
family
goes
from
four
hundred
and
forty
nine
dollars
to
two
hundred
eighty
four
dollars:
it's
a
reduction
of
not
quite
what
a
two-family
reduction
would
be,
but
it's
still
a
significant
reduction.
If
you
chose
the
35
percent
exemption
as
opposed
to
the
30
percent
exemption,
but
I
wouldn't
recommend
that,
for
all
the
reasons
I've
discussed
them
would.
G
What
the
questions
regardless
or
the
question
is
still
gonna
be
safe.
It
doesn't
really
matter,
that's
okay.
The
questions
are
solved.
Then
I
still
don't
understand
how
a
30%
a
single
family
can
only
pay
$36
when
they
increase
value,
went
from
9
percent
and
2
&
3
only
111
that
stry
percent
more,
but
look
at
the
difference
from
36
dollars
to
four
hundred
and
forty-nine
dollars
that
they
only
increase
in
33
dollars
in
a
whole
year.
Right
is
that
a
whole
yeah.
G
G
C
C
C
So,
on
the
17d
exemption,
there
is
no
women
on
income.
The
only
limit
is
on
assets.
It
does
not
include
your
house,
the
other
exemption,
the
43:41
D
exemption
that
has
both
an
asset
limit
and
an
income,
but
that's
a
much
higher
valued
exemption.
That's
worth
a
thousand
by
statue,
two
thousand
in
the
city
of
Chosun.
D
H
C
C
H
C
It
doesn't
do
anything
to
the
city's
bottom
line.
None
of
this
does.
This
is
a
shifting
of
tax
burden.
The
city
collects
the
same
amount
of
tax
dollars.
Regardless
of
what
exemption
you
choose.
You
are
just
shifting
the
burden
among
taxpayers,
moving
it
from
owner-occupants
to
non
owner
occupants
and
the
higher
exemption
the
more
you're
shifting
to
non
owner
occupants.
C
So
if
you
kept
it
a
twenty
seven
point:
five
percent,
it's
the
first
option
identified
on
page
fifteen,
the
value
of
the
exemption
would
be
worth
seventeen
hundred
seventeen
dollars,
and
this
is
what
the
average
tax
this
is.
The
impact
on
the
average
tax
bill
you'll
see
in
that
there
column
from
the
end,
so
a
single
family
owner
a.
H
C
Family
owner,
under
that
scenario,
would
pay
on
average
157
dollars
more
in
FY
19.
Then
he
or
she
paid
an
FY
18
condos
would
still
pay
less
by
one
hundred
and
forty
eight
dollars
on
average.
Again
this
is
all
averages.
Everyone's
situation
is
gonna,
be
different
and
you'll
see
the
rest.
Just
follow
that
column.
That
says
difference
in
tax
bill.
If
you
go
to
30%
you'll,
see
the
differences
everyone's
taxes
as
long
as
you're
an
owner-occupant
go
down
a
little,
but
non
owner-occupants
taxes
go
up
because
the
tax
rate
is
higher.