RUMFORD – Taxpayers may be pleasantly surprised when they get their property tax bills in the mail next week.
Town Manager Robert Welch said the mill rate will decline by just over 3.4 percent, from $19.68 per $1,000 valuation in 2002, to $19.
The town’s assessors handed Welch the total valuation for all land and buildings Wednesday morning, showing a $10 million decrease, largely because of cut-backs at MeadWestvaco Corp.
But because Rumford’s share of the SAD 43 budget declined by almost $500,000, the municipal budget decreased by about $45,000 and the amount requested for initiated articles went down by nearly $37,000, property tax rates were able to be reduced as well, he said.
The first half of the year’s total tax bill must be paid by Oct. 1. The second half is due by April 1. Late payments will be assessed 7 percent interest.
If taxpayers make over-payments, the town will pay 4 percent interest.
eadams@sunjournal.com
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