Damariscotta property owners will see a tax increase resulting from the 2014-2015 rate set by the Damariscotta Board of Selectmen on July 16.
The mil rate of $15.80 approved by the board sets the tax per $1,000 of assessed property value. For example, a Damariscotta resident who owns property valued at $100,000 would receive a tax bill of $1,580 – $70 more than last year, or an increase of 4.6 percent.
Town Clerk Cheryl Pinkam said the mil rate was $14 in fiscal year 2011, $13.95 in 2012, $14.375 in 2013, and $15.10 in fiscal year 2014.
The tax increase is based on increases of $112,310 or 9.7 percent in the local share of the secondary education budget and $42,155 or 1.92 percent in the local share of the elementary education budget.
The municipal budget remained essentially flat with an increase of less than 1 percent over fiscal year 2014; the county tax rose 1.68 percent.
