LIVERMORE FALLS — Selectmen set a special town meeting for 6:30 p.m. on Sept. 1 at the Town Office for voters to consider using $100,000 from the town’s undesignated fund balance to offset a tax rate increase for this year.
The rate for 2019-20 was set at $22.60 per $1,000 of property valuation, an increase of $1 from the previous year. Residents had voted in September 2019 to use $150,000 from the undesignated fund to offset more of a tax increase. Last year’s state Homestead Exemption for property owners meeting the state’s criteria was $20,000.
This year, the exemption has increased to $25,000.
The Homestead Exemption provides property tax relief for certain individuals that have owned homestead property in Maine for at least 12 months and make the property they occupy on April 1 their permanent residence, according to a state website.
Even if voters approve using $100,000 from the town’s undesignated fund balance, which is a little more than $1.9 million, there would still be an increase in the tax rate for 2020-21, interim Town Manager Amanda Allen said Monday, August 10.
However, property owners who qualify for the Homestead Exemption would see a decrease in their tax bills, she said.
Selectmen agreed to not hold a second meeting in August and instead will hold the next meeting on Sept. 1.
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