Chief Assessor presenting proposed FY 2023 Tax Classifications and requesting the adoption of a minimum residential factor for FY 2023 and acceptance of MGL C59 S5C, a residential exemption of 35% of average assessed value for owner-occupied properties for FY 2023.

To the Honorable City Council: As Chief Assessor and Chairman of the Somerville Board of Assessors, I respectfully request adoption of the tax levy percentages for the fiscal year 2023 under M. G. L. Chapter 797. In the course of my presentation, I will propose: 1. The adoption of a minimum residential factor for the City for FY23. 2. The acceptance of MGL c59 s5C, approving a residential exemption of 35% of average assessed value for owner occupied properties for FY23. I will be available at the meeting to answer any questions. Frank Golden Chief Assessor and Chairman, Somerville Board of Assessors CONDITION/AMENDMENT Two motions were approved by unanimous Roll Call vote: 1. That this Council adopts a minimum residential factor of 85.0125, the legal minimum for the City of Somerville for FY2023. 2. That this Council accepts the provisions of MGL Chapter 59, Section 5C, a residential exemption of 35% of average assessed value for owner occupied properties for FY2023.