JAY — Selectpersons intend to set the tax rate Tuesday, Aug. 26, at a special meeting, Town Manager Shiloh LaFreniere said Friday.
The meeting will be held at 4 p.m. at the Town Office.
The rate is expected to rise, but she does not know how much at this time, LaFreniere said.
The current rate is $14 per $1,000 of property valuation for 2013. It represented a 25-cent increase from the year before.
The town is expecting additional information from its team of revaluation consultants about the current value of Verso Paper Corp.’s Androscoggin Mill on Monday and Tuesday that will allow the tax rate to be set.
Once assessing agent Paul Binette reviews the information, he will have a better idea of the numbers and will determine what will be exempted under the mill’s two tax-increment financing agreements and state-exempted equipment.
It is preliminary information, but the rate needs to be set so people have to time to adjust to the new tax rate and tax bills before they are due, she said.
The town began a revaluation on the mill properties after Verso Androscoggin LLC requested a tax abatement in February for $469 million in valuation for 2013. The town values the mill and property at $929 million. The town has until Dec. 1 to make a decision on the abatement request.
The mill’s taxes were about $9 million for 2013 after factoring in two TIF agreements.
Verso pays 69 percent of the town’s property taxes, Paul Binette previously said.
Verso’s abatement request equals about $6.5 million in taxes for 2013, not factoring in any exemptions, according to Binette.
dperry@sunjournal.com
Send questions/comments to the editors.
