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TO:Ron Moorse, Orono City Administrator <br />FROM:Rolf <br />• <br />Erickson, 473-1844 <br />DATE:July 15, 1993 <br />RE:1994 Assessment Proposal <br />Tera of Contract: Septenber 1, 1993 through August 31, 1994 <br />Current contract amount:$70,080.00 <br />Requested amount for 1994 Assessment:$72,168.00 <br />Monthly Fee:$6,014.00 <br />Z am requstlng this increase because because of additional new houses <br />constructed during 1992 and the fact that the State Legislature has <br />again passed legislation which requires us to do extra work. Two <br />extremely complicated changes were included in the tax bill this year. <br />The first change is a law which limits the amount that the market <br />value of certain properties can be increased to lOZ a year or 1/3 of <br />the difference between the "limited value" and the actual market value <br />of the property. While this value limit sounds good in theory it does <br />not limit taxes. The last time a limited value was used was in the <br />1970*s and it created a bureaucratic nightmare and was finally <br />declared unconstitutional. <br />The second change is a special program to defer t-he value added when <br />’tt^tes over 35 years old are improved. The amoui-t of the Improveoients <br />v/i&f. be recorded and then added back in to the market value of the <br />^..epitrty after a prescribed waiting period. <br />If this amount is acceptable please present this to the council at the <br />next meeting. If you have additonal questions, please let me know. <br />CC'.