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206 <br /> <br /> Ms. Dawn McHale, Tax Administrator, discussed the property revaluation <br />process, including the purpose of reappraisals, the market value standard and <br />how a reappraisal is conducted. She outlined advantages/disadvantages with <br />proceeding with the 2003 revaluation or delaying the process for one year. <br />The 2003 revaluation would equalize the tax base within two years and there <br />would be no risk of reduced public service assessments. However, <br />disadvantages of the 2003 revaluation would be as follows: (1) Not able to <br />fully benefit from new technology that will be available in the summer of <br />2002, including the new GIS/Mapping software and new aerial photographs; {2) <br />Statistical analysis with little field review; and (3) Staff working with new <br />software. <br /> <br /> There was brief discussion regarding the timing of the revaluation <br />pro~ess, including the lack of growth in sales, staffing issues and the <br />ceasing of the State reimbursements on July 1, 2003. Some Board members <br />indicated a preference for proceeding with the 2003 revaluation; however, no <br />formal direction was given. <br /> <br />Adjournment <br /> <br /> There being no further business to come before the Board, Chairman <br />Fennel adjourned the meeting at 4:08 p.m. <br /> <br />Clerk to the Board <br /> <br /> <br />