IDA UPDATE

From the Issue: 
March 2012

    The Industrial Development Authority has been hard at work trying to lower your taxes, we have researched the 21 properties taken by tax collectors deed.  Some have been off the tax rolls for 40 years.  We recommended that all but one be sold in an absolute auction and earmark the proceeds to lower your taxes immediately, and by putting the properties back on the tax rolls will lower your taxes in the future. The selectboard asked for a year to place properties on the market before auctioning them off.  As a result only 2 lots have sold, some money went to offset taxes and some money went into the general fund. 

    The IDA has now researched deeds and contracts for the Troy Mills Complex which has been off the tax rolls 10 years now.  We have placed an article on the warrant for $2,500 for legal expenses to further interpret contracts and make recommendations for inserting safe guards into future contracts in order to protect the town. 

    Currently no safeguards exist protecting the town’s vested interest as lien holder.