Poland Spring, town agree to tax repayment

POLAND – Poland Spring Bottling Co. and the town have reached agreement on a plan to repay more than $2 million in tax revenue owed to the company.

An audit last winter turned up bookkeeping errors linked to tax-increment financing agreements with the bottling plant, the town’s largest taxpayer and employer. The company’s overpayments mounted as the errors went undetected for six years.

The Board of Selectmen voted this week to accept a repayment plan that would repay Poland Spring nearly $2.1 million through 2013. The bottler had agreed to forgive $200,000 of the debt and forgo interest.

Town and company officials said the agreement was reached through negotiations.