FORT KENT – The state valuation of the town has increased by nearly $20 million for 2006, bringing the town’s state value up to $156,600,000.
That can create problems for the municipality because the local valuation is considerably lower than the state valuation. The local valuation this year is at $126,000,000, still $12 million lower than the present state valuation of $136,000,000.
The state valuation also affects many funding formulas that could lower the town’s share of money coming from the state and federal government for programs.
The town could see increases in its share of the cost of the Northern Aroostook Regional Incinerator Facility and its share of SAD 27 costs.
“This will cost the town more money for programs,” Town Manager Donald Guimond said. “The local assessed value has not changed, and the additional value of the state valuation is not recaptured.”
Guimond said the town has signed a contract to have a revaluation of the town. That will increase the local valuation.
Tarr Assessing of Washburn will be doing the work. The earliest the revaluation can be done, Guimond said, will be for the 2007 tax year.
The town has some money for the contract, but not all. Guimond said the contract has been signed, but it is pending on voter approval of the rest of the money.
In other business Monday night, the town is looking to purchase a new snowblower for the Public Works Department. It expects to spend around $100,000 for the unit.
Town councilors learned Monday that the town’s Public Works Department director is leaving. Dave Cyr will be done at the end of the month.
At its next meeting, Oct. 24, the Town Council will discuss winter road closings.
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