LUDLOW, Vt. – The Ludlow Selectboard met on Monday, Nov. 3, hearing from Ryan Silvestri, town assessor, concerning Ludlow’s upcoming reappraisal.
Silvestri told the board that Ludlow’s common level of appraisal (CLA) currently stands a 66. The CLA is a number used by the state to determine how a given town’s residents’ taxes are adjusted to pay for state education taxes based on changing property values, as determined by three years of property transaction data within the town. The CLA is applied to all taxpayers in a municipality, regardless of the actual change in their specific property’s value.
“You pay municipal taxes on your assessment with no adjustment,” Silvestri explained. “You pay education taxes on your assessment plus 34%. That’s indiscriminate.” Silvestri described this system as “regressive,” saying it “benefits the higher-value properties and punishes the lower-value properties.”
Silvestri noted that the upcoming appraisal will be a statistical appraisal, meaning that it will be calculated based on permitting and construction data on file with the town, among other factors, such as location, and will not require assessors to inspect each and every property in town. Instead, a random sample will be visually inspected from the road, with Silvestri determining whether they match the town’s data. If a property does not match, a full walkaround of that property will be performed. Enough properties must visually match Ludlow’s data to satisfy the state requirement for data accuracy in order for Ludlow to be allowed to continue with the statistical reappraisal.
Selectboard Vice Chair Justin Hyjek asked Silvestri how the changing market – particularly the perceived cooling of the housing market after the post-Covid increase in home prices – will affect the reappraisal process. “Where the market now is currently changing…will it be self-correcting?” Hyjek asked. Silvestri replied that Ludlow’s property values, while not continuing to increase, are generally plateauing, but explained that, should market trends show an overall decrease in transaction prices compared to assessed value, Ludlow’s CLA will be adjusted to be above 100, meaning the education tax rate will be decreased across the board for all town taxpayers.
Next, Bruce Schmidt, vice president and general manager of Okemo, spoke to the board about the ski area’s upcoming season. Schmidt said that Okemo is celebrating its 70th season this year, and is aiming to open on Nov. 22. He also informed the board about improvements made during the off season, including updated signage and new snow guns, which should enhance the guest experience.
Additionally, Ludlow Police Chief Jeffrey Warfle recognized several officers of the Ludlow Police Department for their service. Dispatcher David Petitt III was recognized for 10 years with the department; and officers Marissa Foote and George Hauser, and Sgt. Brendan Reily were recognized for meritorious activities, regarding their efforts to upgrade the department’s lights, sirens, and safety cameras.
The Ludlow Selectboard will next meet on Monday, Dec. 1, at 6 p.m., in the Ludlow Town Hall auditorium.