Morse re-elected to board of directors at Mutual Bank
William Morse, president and chief operating officer of Mutual Bank, has been re-elected to a three-year term on the board of directors of the Bank.
In this role, he will help guide the policy and direction for the mutually-owned bank. He also serves on the board's executive committee.
Morse formerly was president and chief executive officer of Security Federal Savings Bank, and oversaw that bank's merger with Mutual Bank in 2006.
Morse serves as chairman of the board of School on Wheels of Massachusetts, an organization that provides tutoring services to children experiencing homelessness.
He is a director of the Metro South Chamber of Commerce and a member of Bankers' Mutual Resource. He is a past chairman of trustees of Massasoit Community College, and past chairman of Massasoit's Financial Institutions Training program. He is a former member of the town of Easton's School Committee.
Morse is a long-time resident of North Easton.
Over the last three to four decades, many successful real estate developers, sponsors, syndicators and operators have built substantial portfolios of commercial real estate using high-net-worth investor capital. Through careful acquisitions, development expertise, market appreciation and operational oversight, these sponsors have amassed portfolios worth tens or even hundreds of millions of dollars.
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property