I. Council Action Requested.
Title
To authorize the Assessor to adjust assessed values according to market value.
Body
II. Basis for Council Action.
Council approval of this item is required because;
a. Pursuant to Article V, Section 6 of the Charter the approval of the budget at budgetary town meeting established " the amount of the levy for the purposes of the Town in corresponding fiscal year," and
b. Pursuant to Article II, Section 3(I) of the Charter the Town Council has the authority to “[e]xercise all the legislative, financial, borrowing and other powers now or hereafter given by statute to inhabitants of towns acting in Town Meeting.”
III. Issue Summary.
Please see the attached memo from Elisa Trepanier, Assessor.