NEW GLOUCESTER — Selectmen on Monday set the property tax rate at $16.90 per $1,000 of assessed value. The prior rate was $15.80.

A home valued at $200,000 will be taxed $220 more in 2019-20.

The new rate provides for an overlay of $23,272.26, a legal provision that allows towns to raise money to cover unexpected expenses such as tax abatements.

According to Michael O’Donnell, the town’s part-time assessing agent, the town’s valuation is $470.72 million.

The municipal budget is $4.6 million, the SAD 15 assessment is $5.82 million and the Cumberland County assessment is $382,057.

In other business, the board was updated on the townwide revaluation that will begin this fall.

“We are shooting for full, fair market value,” said O’Donnell of John E. O’Donnell & Associates of New Gloucester.

Agents will review the town’s 3,050 properties. They will have photo IDs and letters from the town. All properties will be valued whether owners allow entrance to their homes or are not available.

Once the fieldwork is finished, property owners will receive letters with new valuation figures.    Residents who request a review can make appointments, O’Donnell said.

In another matter, Peter and Jenny Bragdon who helped spearhead the New Gloucester Community Fair last weekend, said it was a success and fairgoers asked that it be held again. Bragdon said 49 vendors and roughly 1,500 people attended.