JAY — Selectpersons will hold a special town meeting Monday, March 24, to ask voters to transfer $300,000 from the town’s $6 million undesignated fund to an account to do a revaluation on Verso Paper’s Androscoggin Mill.

The money will be used to determine the fair and just value of the mill. Verso has filed an abatement on its 2013 taxes, challenging the town’s valuation of the mill and its property in the town.

The meeting is scheduled at 5:30 p.m. in the library at Spruce Mountain High School in Jay. A brief Board of Selectpersons meeting will also be held at that time.

Immediately following the meeting, at 6 p.m., the town Budget Committee and the department heads will hold a budget meeting on the proposed $6.2 million town budget. The overall spending package is $157,769.07 more than the current budget. However, taxpayers will need to raise $563,769.07 more than last year because less revenues are anticipated.

Town Manager Shiloh LaFreniere anticipates having a candid discussion during the meeting about the potential affect the Verso abatement request and the proposed revaluation could have on the town, she said Thursday.

Selectpersons and the budget panel will meet again to discuss the budget at 6 p.m. Tuesday, March 25, in the school library. Requests from the Jay-Niles Memorial Library and civic and social organizations will be reviewed then.

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