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.