POLAND — The Select Board voted Tuesday night to set the property tax rate at $14.66 per $1,000 of assessed value, 44 cents less than last year’s $15.50.
The board had projected a rate of $14.35 at the April town meeting, but a notable decrease in the town’s certified ratio from last year’s 95% to the current 86% affected the difference.
Certified ratio is the relationship between the assessed value and the market value of a property.
The decrease in the certified ratio to 86% reduced the town’s valuation from $821.78 million to $803.77 million.
By setting the tax rate at $14.66, the board also agreed to use $675,000 from the undesignated fund balance.
Deputy Town Manager Nikki Pratt said the town will receive over $633,000 in state revenue sharing funds.
In other business, the board learned that since no new marijuana applications were filed, there will be no marijuana lottery scheduled for Aug. 18.
Town Manager Matt Garside said the town has applied for three grants totaling $90,000 for the Ricker Library expansion. The possible grantees are the Libra Foundation, Stephen and Tabitha King Foundation, and Margaret E. Burnham Charitable Trust.
Garside also mentioned that preliminary design of the expansion will be forthcoming in September or October.
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