There will be some slight changes in area communities financial responsibilities as a result of the state’s 2015 valuations.

Each year Maine Revenue Services certifies the full equalized value of all real and personal property which is subject to taxation under the laws of Maine for all cities and towns in the state. Those valuation figures are used for numerous purposes, such as county tax assessments, municipal revenue sharing, and school subsidies; if a community’s valuation increases at a race outpacing others, it will see an increase in assessments and declines in revenue sharing and subsidies.

The state valuation lags actual market values and municipal assessments by nearly two years by the time it is final and certified, meaning the 2015 valuations are based on 2013 data. According to those figures, Orono and Greenbush were the only local towns to have their valuations rise from last year. Orono’s new valuation stands at $419.2 million; in 2014 it was $394.6 million, meaning it rose nearly $25 million. Greenbush also rose, from $54.65 million last year to $568 million last year, as did the Penobscot Nation, which inched from $8.8 million to $8.9 million.

Old Town, meanwhile, saw its valuation drop by $9 million, from $495.9 million to $486.95 million. Also falling were Alton, from $40.65 million to $40.4 million; Bradley, from $109 million to $108.5 million; and Milford, from $177.85 million to $175.05 million.

The valuation for Penobscot County as a whole rose slightly for this year, now standing at $10.53 billion, or about $97 million more than last year. That figure for the county as a whole – as well as local communities -still is below the all time peak valuation in 2010, with values falling after that as a result of the financial crisis of 2008 and subsequent recession.


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