#LaconiaCityBoxScore — Oct. 19: Early property assessments are in

LACONIA — Want to know what your home is worth compared to last year?

The 2019 preliminary property report is just a click away at the city’s website — https://tinyurl.com/y3htdloq

Improved residential property increased in value by 3.91 percent, residential condos were up 5.30 percent, apartments were up 3.05 percent and improved commercial properties were up 2.45 percent.

When exempt properties are taken out of the mix, there is about $2.2 billion in the city’s tax base.

The overall increase in assessed valuation citywide is about 4 percent, but that doesn’t mean your taxes will be going up 4 percent. That’s because the city’s tax rate is likely to decrease, said City Manager Scott Myers.

“Collectively, we are looking at about a 4 percent increase in values across the city,” Myers said at the Tuesday council meeting. “Different types of property will be higher and lower, that's the average. Not everybody will be equal at 4 percent.

“In all probability, through the tax-rate-setting process, our tax rate is going to go down from what you, council, adopted back in July because now we have this extra value coming into the equation.

“If somebody thinks just because their property went up 4 percent, that means their tax bill is going up 4 percent, that is not an accurate reflection because the calculation and the answer to what the tax rate is going to be is going to change by the extra value that can only be captured now.”

Taxpayers can call the assessing department at 527-1268 with any questions or concerns about the new value of their property. If issues can’t be resolved, a formal abatement request can be filed with the Board of Assessors after the final tax bill and must be received by March 2, 2020.

Colonial Theatre

Refurbishment of the historic Colonial Theatre, a project intended to stimulate downtown revitalization, will begin by the start of November, Mayor Ed Engler said.

The Belknap Economic Development Council has offered a gross maximum contract to Bonnette Page and Stone, the general contractor.

The City Council has approved $6.7 million in bonds to fund the downtown project. Early on, the city loaned $1.4 million to the Belknap Economic Development Council to buy the theater, so its overall financial commitment will be $8.1 million. The $13.5 million project also relies on state, federal and private money.

Short-term rentals

The City Council is considering a regulatory system for short-term rentals in which they would be banned with the exception of in The Weirs and in owner-occupied homes.

Mayor Ed Engler suggested an additional exception on Tuesday night. He proposed that South Down and Long Bay receive a zone change under which they would also be allowed to offer short-term rentals.

South Down and Long Bay have homeowners associations that would have rules for short-term rentals, and if they didn’t want the zone change, the idea would not be pursued, Engler said.

Parking garage

Broken asphalt at the entrance and exit of the downtown parking garage is to be repaired on Wednesday and Thursday.

Any vehicle that parks in the garage before the work begins will not be able to exit the garage while the work is being done near the exit.

Spelling Bee

The 19th Annual Community Spelling Bee will be held Thursday at 6:30 p.m. at Laconia High School.

Admission is free.

For more information, contact Lakes Region Scholarship Foundation, 527-3533, or email at scholarship@lrscholarship.org