Bremen Assessors’ Agent Jim Murphy discusses the town’s mil rate with the Bremen Board of Selectmen on Thursday, July 21. (Alexander Violo)
The Bremen Board of Selectmen set the mil rate for 2016 during a meeting Thursday, July 21.
The selectmen voted unanimously to approve an increase in the town’s mil rate from $12.10 to $12.60. The increase translates to a 50 cent increase in property taxes per $1,000 valuation this year, or $50 per $100,000 valuation.
Selectman Hank Nevins said a number of renovation projects are wrapping up over the course of the year and won’t impact the tax rate in future years.
According to Nevins, roughly two-thirds of property taxes go to pay for education, county taxes, and waste disposal.
Assessors’ Agent Jim Murphy said the town lost about $1 million in taxable value through an increase in the homestead exemption from $10,000 to $15,000.
According to Maine Revenue Services, the homestead exemption program provides property tax relief for individuals who have owned homestead property in Maine for at least a year and make the property they occupy on the first day of April their permanent residence.
The state reimburses the town for half of the lost revenue.
