LIVERMORE – Selectpersons met in special session Thursday night to set the tax rate at $14.10 per $1,000 valuation. It’s down from $19.50 last year.
Administrator Kurt Schaub indicated that the rate is one of the lowest in Androscoggin County. It is even lower than the $15 suggested by John O’Donnell & Associates, which recently completed the first comprehensive revaluation of the town in 16 years.
The news is not all good for taxpayers, however, because the revaluation has resulted in higher values for many properties, especially those which have water frontage.
Some homeowners will also see a decrease in the amount they receive for Homestead exemptions. Homes valued at less than $125,000 will be eligible for the entire $7,000, but those over that amount receive only $5,000. Homes that are valued at more $250,000 will receive a $2,500 exemption.
Bills are being printed and should be mailed Monday, Schaub said.
In other business, the board approved a tax anticipation note for $350,000 at an interest rate of 2.16 percent from Androscoggin Bank, the lowest of three bids. The note will mature on Nov. 30.
Schaub and Selectperson Tom Berry reported on the tax-cap meeting they attended Tuesday. The board is unanimous in its opposition to the proposal, but is uncertain how to get out the word to townspeople.
Figures show that, should the cap pass, the town would not have enough money left to operate, as the school commitment must be paid from whatever money is available.
“This is a serious thing,” said Berry. “People are so hip on saving taxes, they don’t see anything else.”
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