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Lamoine Town Report 2005

Board of Assessors Report

Municipal Valuations as of April 1, 2005

Type

Gross Value

Exemptions

Taxable Value

Land Values

$134,437,300

$4,068,200

$130,369,100

Building Values

$104,202,700

$3,026,400

$101,176,300

Personal Property

$2,081,700

$0

$2,081,700

Totals

$240,721,700

$7,094,600

$233,627,100

Homestead Value

 

$5,941,000

$227,686,100

•  The mill rate for 2005/06 was $7.30 per $1,000 valuation.

•  Total Tax Commitment was $1,661,324.50.

•  One mill raises $227,686.10

•  The Property tax overlay was initially $65,837.98. Due to changes by the Maine Legislature in the Homestead Property Tax reimbursement program and an error interpreting how that change was to be calculated on the local level, that overlay was reduced by $43,366.38 for a net overlay of $22,471.60.

The town completed a factored revaluation during the summer of 2005, with the new values reflected in the April 1, 2005 valuation above. The town saw a significant valuation rise, and a corresponding reduction in the property tax mill rate. There were no significant abatements granted after the revaluation. The board did grant the following abatements:

Name

Amount

Reason/Explanation

J. Daugherty

$7,181.76

Recalculated tree growth penalty

Barry's Electric

$40.88

No longer had personal property

Mfg & Dealers Service

$13.14

No longer had personal property

A. Strum

$255.50

Recalculated land valuations

T. Stephenson

$1,000.72

Recalculated land valuations

J. Saloma

$790.22

Error in valuation – double billed

S. Hibbs

$95.05

Granted Homestead exemption

K. Rybarz

$95.05

Granted Homestead exemption

The Board also issued the following supplemental tax bills in 2005:

Name

Amount

Reason/Explanation

B. Davis

$3,955.46

Tree Growth Withdrawal Penalty

J. Daugherty

$5,620.00

Recalculated Tree Growth Penalty

B. Davis

$575.08

Tree Growth Withdrawal Penalty

Lamoine Baptist Parsonage

$146.00

Exemption Removal

David Dennison

$320.47

To Correct calculation error

Jane Fowler, Chair Colene Sharkey Terry Towne

The Lamoine Board of Assessors