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A tax commitment presentation was an important portion of the July 19th Rangeley Board of Selectmen’s meeting. Matt Caldwell of RJD Appraisal, the Town of Rangeley’s contracted assessing firm, provided the information.
Rangeley saw an increase in new real estate valuations of approximately four million dollars over the past year. The revenue from this additional taxable property is not sufficient to neutralize the $448,000.00 increase in Rangeley’s share of the school budget and the $220,000.00 increase in the municipal budget. The municipal budget would have risen by $175,000.00 more if the Selectmen had not voted to allocate that amount from the Chick Hill material money that the Town received during the last airport project. According to sales price data waterfront property is assessed at 84% of the selling price and non waterfront property at 94%. The current mil rate is 13.84 and will increase to 14.84 which is an increase of approximately 7 1/2