Camden's property tax rate rises, barely

By Susan Mustapich | Sep 04, 2019
Source: File photo

CAMDEN — Camden's 2019-20 property tax rate is up a fraction of a percent to $14.91 per thousand dollars of property valuation.

The annual increase equals $9 on a property valued at $300,000.

Camden's share of the school budgets for SAD 28 (K-8) and Five Town CSD (9-12) accounts for 61.76 percent of property taxes; the municipal budget, 31.2 percent; and the county budget, 7.04 percent, according to assessor Kerry Leichtman.

Municipal budget expenses total $9.7 million. This year, non-property tax revenues used to reduce the amount to be raised from local property taxes include fees, tax increment financing and borrowing from the town's surplus fund, to be repaid to that fund within 10 to 15 years. After revenues are subtracted from expenses, the municipal budget totals $6,172,873, up 1.46 percent from 2018-19.

Camden's share of the SAD 28 budget totals $8,040,020 and its share of the CSD budget, totals $4,176,602. Leichtman reported Aug. 30 that combined, these amounts are up 4.54 percent over last year.

The taxable value of Camden's real estate has grown by $45,277,284 from April 1, 2017, to April 1, 2019, according to Leichtman. As a result, some residents may see adjustments in their tax bills, he said.

The Maine Constitution requires property to be assessed at market value. Leichtman found that since a major revaluation was conducted in Camden in 2017, property values had increased by 6 percent over the two-year period since the revaluation, because of market growth. He regularly assesses changes in market value in order to track when adjustments up or down in valuation need to be made.

Tax bills will be mailed Sept. 5, and residents may expect to see them by the 7th, Leichtman said.

The first half of the tax bill is due Oct. 16, and the second half is due April 16, 2020.

Comments (1)
Posted by: TC Tolliver | Sep 12, 2019 15:39

Of course, a 6% increase in valuation, coupled with a fraction of a percent increase in the mill rate, results in a higher tax liability and not just barely!



If you wish to comment, please login.