a classification meaning would have multiple tax rates and the nd item is whether we want to entertain doing a residential exemption the town of belmont again this used to be completely under the purview of the board assesses but it now the rest with the selectmen so that we didn't set a tax rate without your full input and knowledge because this also affects how much excess levee capacity could be left if there were a bail ability and you want to use it for other purpose which impacts the budget which impacts the budget right so now the budget is all been set and we know much how much has to be raised from different sources including the revenues it the remaining is raised from the tax rate the board assesses we're recommending a single tax rate a classification meeting that all the four class the property residential open space industrial and commercial properties will all be valuable using the state which is what we have no that's currently we haven't we've had  the history of bell the reason for the classification in logic jurisdictions that have the ability to shift it to a larger commercial industrial base you're able to lower the residential tax rate by the commercial district paying of under the same statute so we have to go through this exercise to explain that process to you know we've had this conversation before we had a big one last year we went through this very issue and i know that members of the board committee have brought that to our tension as well that why don't we have some places do have a higher tax rate for commercial property in a lower tax rate for residential property to shift the burden a little bit however i think you explained it pretty well last year and probably are about to do so now that there's actually you know we have such a small small commercial tax rate the doing that really doesn't do much right as far as relief for the residents you save the residents a couple of bucks it's not a major thing and the thing is what would happen is that if you did shift into the commercial you basically put such an unfair tax burden on the commercial property owners that you drive those are there but the part that gets me is the fact that you don't save the residents much any doing that and so in which case you know what that was the whole point if there if that doesn't achieve that point then i don't see any reason to make a pick which also should note that  that i felt introduced earlier town treasurer floyd carmen is here as well as town accountant shutter supermini tax rate in cambridge for less than six dollars per those who were for commercial commercial is about forty dollars so shift so there's a misconception out there that by shifting the tax rate to having different tax rates that we will be raising more money as we tax fully to levy right so there's no this is simply a shift between class it would be to give tax relief to residents by increasing taxes on commercial but as you're saying doing that because the differential is like ninety five and five percent between the two you're really don't save any presidents much of anything by doing that and you heard the businesses on top of it so what would be the point i appreciate you going through the exercise because this every year this seems to come again although the tax rates going down the assessed values are going up about eighty percent on average across the i just i just did the math nine percent increase he says value over year over year yes pretty incredible exactly so the economy is still going strong values are going up and that basically leaves everything fairly the same with the two and a half percent i don't have a sense so again you're somewhere the average if you look at that average household a one million over ninety it's about a five hundred odd tax increase year to year that's the two and a half percent two and a half percent production not the tax rate we're not the tax rate outside of that right right exactly and it's pretty silly do you have any comment on any of this now we've been going over the numbers all week so we're comfortable with the question came up last night though on the that to the rest of the population of homes basically only the four hundred dollars you look at you know we every home is reevaluating the inspections again we'll change those individual characteristics we also look at and evaluate every sale that takes place we'll you know try to determine what factors go into our statistical model to in order to use those case so we change the weights on the model if you will to revalue the properties so that so everyone's being looked at maybe from an outside perspective but also those four do it again those are all the building permits that's how you get your new growth is coming out of that one thousand four hundred that's the sales property and so there's probably maybe a one thousand random houses if you will that be inspected just because of the sickle tree lane and when people will say that given that now that we cap is being finalized the collins miles going to be updated with the with the new number which could change the ultimate balance up or down down the deficit down a little bit  happened last night about what number to put in columns as putting in i believe seven hundred and fifty thousand dollars and you got next year i don't know if the assessors on now i think i made a statement by please click right before mine i think every year we have weeded we've never gone in so it was always thought being more conservative that the number that we were giving you as the board is up under now but we were comfortable we're going to at least meet that you know cities you know using statistical satirical numbers and just using a seven hundred and fifty or something because that's what january st about time we get out and look at it and making those estimates and we can do a lot of estimates in the office been to actually get out there and find out because a lot of the permits that are issued at the very end of the year may not even start until the beginning of the next year or the spring or something so people and people have two years to complete permits too so it's all trying to figure that out so the new growth for the nineteen budget that we're currently in is that we bookkeeper last year run that number we put one hundred thousand we  a tremendous job and you have a new growth in this community i mean if you look at what other communities gather like i mean we go out and really work at it make sure that we're on top of it and it's our place people want to be apparently what it was a good thing for the values and you know dan in the to use to go under the inspections at all we really make sure that you know i was being treated fairly if that construction in place and doing that's that's important and yeah you know i think you guys do good good work in the department does good work i think we've worked really collaboratively well yes since least i've been on the board  me the debt exclusion that we voted yes how does that play into the tax rate and taxes over the next couple years that that will be phased in the st few years depending on when the treasury decides to borrow issue the bonds when they come out so that would be included at that point there is the one code exclusion from the prop two and a half that allows us to raise that money so at that point will depend on when the bonds are issue when the payments going to be due so it'll probably  ix hundred and eighty dollars then probably be a little short term borrowing because they'll be some picky stuff and then a bit of you know two billion five hundred and thirty million dollars the the balancing act is that m s b a reimbursement make the final borrowing same basic model we used for the belmont substation project long term couple shot terms and we have a final long term same thing was the reason we borrow we got to spend within eighteen to twenty four months and we get money that carries over the past one thousand and eighteen and twenty four months we get into tries and you know it's not a pleasant situation the other aspect we never can lose sight with dealing with the radiating see ray needs he's going to say hey the town town didn't have a handle on a project the it's borrowed all this money and they didn't get it spent in the st eighteen to twenty four months issue is that you have to go the reader needs to get sort of the reading of that absolutely right so dissipating like that least three times having to deal with moody's in terms of know they hit a bump on a road you got some bad weather things you dragged out so we want to be borrowing in advance of you know we don't want to borrow too much in vance when the when the project you know we're project being complete of we're going to go out and borrow the somewhere between the last week in february to probably the middle of much of what borrow the primary reason why borrow in that timeframe is we'll have a final set of financial so we can drop in it's always reminded him two years ago i told him a two hundred and fifty main two hundred and twenty five me no schools come when i went and saw him last september said by the way that school still on track it's come and so moody's is well aware that this borrowing is happening they like that they like because they have a feeling that the town knows what the hell are doing and i think it's and i would think that they would think that they were being prudent and doing the school project i would hope rather than just kicking it down the road testament to your good work if you think that way it's a lot it's in a lot of people and it you know it can be understated the predictability when you go into the radiators sees that they know what's coming you know surprises you know the numbers you give them that you're hit those you told that market whatever and that's only thing the other item on the agenda is basically that the residential exemption and the residential exemption is simply that again it's a shift within strictly the residential class as nothing to a commercial industrial and it would allow a ten percent up to thirty five percent that average as assessment to be deducted from everyone's assessed value the town of belmont is a so homogeneous and again we come to the fact of that most of the homes follow that a very narrow range the shift would be very small very low priced homes would benefit dramatically very high priced homes would get pick up the burden but again it does not raise additional dollars in taxes to shift the shift and again yeah they they expressed their pleasure and some of the things that they were able to do such as the increase in sea work often things like that they mention that they spoke to bob about the residential exemption  so it was thought to have a public hearing was the best way so that if the worst of it potentially a large amount here you could weigh in at that point and do it i mean the problem in towns is you know we can't just spend the money we would have to go to town meeting and also it's not as simple as just it because people say people say our tax rate is really high in fact our tax rate is not really high or tack it is actually how high it all the problem is our vote houses are worth a lot of money but that's where we houses are going up ten percent a year your taxes are going to go up right i mean i think the hardest part is when