Valuations as of April 1, 2003
|
Type |
Gross Value |
Exemptions |
Taxable Valuation |
|
Land Values |
$54,375,300 |
$2,596,900 |
$51,778,400 |
|
Building Values |
$59,201,800 |
*$2,013,300 |
$57,188,500 |
|
Personal Property |
$1,290,900 |
|
$1,290,900 |
|
Totals |
$114,868,000 |
$4,610,200 |
$110,257,800 |
*Does not include Homestead Exemptions, which totaled $2,318,100. The tax commitment was reduced by $32,453.40 by the Homestead Exemption.
Mill Rate was $14.00 per $1,000 valuation
Total Tax Commitment was $1,511,155.80
One
mill raises $110,257.80
The town has entered a contract with RJD Appraisal to perform what’s called a factored revaluation during 2004. The updated assessments will be reflected in the April 1, 2005 valuation. The town’s valuation compared to the state valuation in 2003 was approximately 77%, which meant exemption reductions for Veterans, Widows and others. Additionally, the Maine Legislature approved a graduated schedule for homestead reductions that significantly reduced the amount of homestead exemptions.
Terry Towne
The Lamoine Board of Assessors