Tax rate drops, while some property values rise

By Susan Mustapich | Sep 06, 2019
Source: File photo

LINCOLNVILLE — Lincolnville's 2019-20 property tax rate has dropped to $15.40 per thousand dollars of property valuation, from $16.90 last year.

Lincolnville's share of the school budget for the Lincolnville Central School and Five Town CSD (grades 9-12) accounts for 72.65 percent of the local property tax bill, according to Town Administrator David Kinney.

The 2019-20 budget for Lincolnville Central School totals $3,748,120, up $205,680, or 5.8 percent from 2018-19. State education funds totaling $542,454, up $215,995, which is a 55 percent increase from 2018-19. After revenues are subtracted from expenses, the amount to be raised from property taxes for K-8 education is estimated to be $3,203,265, up $726 from last year.

Lincolnville's share of the Five Town CSD budget for grades 9-12 is $1,663,166, up 5.46 percent from last year.

The municipal budget accounts for 14.69 percent of the tax bill; and the Waldo County budget accounts for 12.66 percent, according to Kinney.

Municipal budget expenses total $2,094,256, up 3.5 percent from the prior year. The amount of non-property tax revenues was projected at $1,102,704 as of June 13, which is an increase of 9 percent from the previous year. After revenues are subtracted from expenses, the amount to be raised from property taxes for the municipal budget is down 2.3 percent from last year.

The drop in the tax rate is also attributable to the increase in the town's taxable valuation to a total of $435,678,700. The increase is up $46,432,000 from the total taxable valuation last year of $389,246,700.

Property owners whose valuations have remained the same, or are lower than last year will see their tax bills decrease, while property owners with valuations that have gone up may see increases in their tax bill, Kinney said.

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