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Hottest Zip Code Bonanza

With the Melrose housing market allegedly going through the roof, shouldn't the increased assessments on inflated purchase prices be filling the city coffers to overflowing?

Why would we need an override?

Re: Hottest Zip Code Bonanza

Bingo! This will be more money for Mayor Dolan to fill his "slush funds" to give out to his friends and organizations. He has an entrenched political machine which is going to be very difficult to unroot - and being still a young guy - he is in until he gets a plumb state job! This is the reality we need to face. Perhaps Baker can do us all a favor and find a state job for him.

Re: Hottest Zip Code Bonanza

Assessed values only change when a house is sold or if the city does an assessment of the homes across the board like they did a few years back. While there have been a number of sales; not enough to move the needle with regard to the override. Also, the increased tax revenue from the higher assessed values is not realized until the following tax cycle. Even if there were enough home sales to have an impact (which there aren’t), the increase in revenues is still at least a year away.
Voting yes on the override.
Also, if you think Dolan is going anywhere you are mistaken. This is his dream job and he does it well.

Re: Hottest Zip Code Bonanza

trolling
Also, if you think Dolan is going anywhere you are mistaken. This is his dream job and he does it well.



Don't be fooled, Troll, if someone from the state comes sniffing with a great opportunity, he's gone. And heck, who could blame him?

Re: Hottest Zip Code Bonanza

Hey Trolling...you made my case! Because the Mayor will be around for a long time, something we both agree on, he will be the recipient of all that extra tax money over the years gained by higher home sales! What a dufus you are - you must be a city hall hack!

Also - you talk about a few home sales? What planet do you live on....I just had 5 house sell on my short street in the past year!Go back to city hall and tell the Mayor you tried hard.

Re: Hottest Zip Code Bonanza

Hello Melrosians, to all of you who are new to the community. Let's get something straight about this, this isn't something to do with the zip code. It's about where Melrose is located. Now that I have said that.It is like i said last night. Hottest zip code in America.

Re: Hottest Zip Code Bonanza

trolling
Assessed values only change when a house is sold or if the city does an assessment of the homes across the board like they did a few years back. While there have been a number of sales; not enough to move the needle with regard to the override. Also, the increased tax revenue from the higher assessed values is not realized until the following tax cycle. Even if there were enough home sales to have an impact (which there aren’t), the increase in revenues is still at least a year away.
Voting yes on the override.
Also, if you think Dolan is going anywhere you are mistaken. This is his dream job and he does it well.


OK, hypothetical. A house in Melrose was purchased in 2001 for $131K, which was the average value then, according to City Data. Assessed valuation today may be $350-$400K depending on the last assessment. Average Melrose price now is $448K, and given the "heat" of the market, it may go for $15-20K more. How much more will the city take on an assessment at the new price? How many properties have changed hands at the inflated prices over the past 4-5 years?

It may be too late, though; according to Zillow, prices in Melrose are down 4.4% this year. The Chinese cash has dried up. Make hay while the sun shines, guys.

Don't know if you're a city hall troll or not, Sport, but get with the program. I'm not one of the anti-Robbie faction. Given the possible alternatives, like the aldermanic Butt Sisters or Morty the Manic, Robbie is downright Solomonic.

Re: Hottest Zip Code Bonanza

Hey buddy - I never said that the Mayor is doing a bad job improving Melrose - especially with infrastructure improvements over the past 10 years. Where he is very deficient is in the areas of schools and I realize he is not in charge of the schools but really in many ways he is - because of the weak school committee we have. With his private dealings with the school committee chair Thorp and super Taymore - he acts like a bully - using city-side money as the power weapon - of course he also has a vote on the committee. The schools need to be independent of the city, as state statute requires, but in Melrose - they are married together - and the resultant chaos is due to this marriage!