Ogunquit News
Ogunquit tax rate drops by $5.55 after revaluation
By C. Ayn Douglass
OGUNQUIT - The numbers are in, and while the value of property in town has gone up, the tax rate is going down.Town officials have set the mill rate for the November tax bills that will be going out soon, and the new rate will be $6.85 per $1,000 of assessed value, based on 100 percent valuation for the town.
Last year's rate was $12.40 per $1,000 of assessed value. At that time, Ogunquit had approximately a 60 percent valuation for its property.
Vision Appraisal has completed its town-wide revaluation of the assessments on all properties in Ogunquit, and officials have said the tax rate reflects a more accurate picture of the value of properties in the town.
While the tax rate was cut by a significant amount, not all tax bills will be lower in town. Properties that have increased significantly in value - by more than approximately 45 percent - will see an increase in taxes in the year ahead as that is the approximate amount the tax rate has dropped.
Those who have properties with value that stayed the same or increased slightly will see a decrease in their tax bills.
Contact Ogunquit reporter C. Ayn Douglass at cayndouglass@yorkindependent.net.
