Home Sponsored Content Heard on the Street 7.15.20

Heard on the Street 7.15.20

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Montpelier Reappraisal Contract Awarded

Montpelier has awarded a $260,000 contract to conduct a reappraisal to New England Municipal Consultants, the same firm that conducted the city’s last reappraisal in 2010. The full reappraisal, in which the firm will attempt to visit every property in Montpelier, will start late in 2021 or early 2022 and is set to be completed by June 2023.

Rising property values are expected to push the city’s level of appraisals compared with fair market values this year down below 85 percent, the point at which the state requires reappraisals. City Manager Bill Fraser noted that residential property values have been soaring, but he wondered how commercial properties — which are valued based on a building’s income — are faring in light of the pandemic.

If residential property appraisals go up more than commercial property appraisals, that could once again shift more of the property tax burden onto residential properties, Fraser noted. “But perhaps the situation will have changed by the time of the reappraisal,” he added.

Parking Meter Fees to be Reinstituted August 1

We’ve gotten used to not paying for parking since March. Thank you, Montpelier! But come August, it’s time to get out the quarters again (or debit card for the smart meters). From the last City Manager’s report: “We will likely restart meter-regulated parking on or around August 1. This would come with an early re-education period, waived fees for parklets, and, potentially, free or reduced price parking in lots. We are also thinking about having more 15-minute spaces to accommodate take out and curbside.” All good things come to an end.

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