The Mechanic Falls Town Council voted Monday night to set the property tax rate of $14 per $1,000 of assessed valuation.
This means a home valued at $250,000 will pay $3,500 in property taxes.
The change in the tax rate from last year’s $22.25 is due to the property revaluation done this year by the tax assessing firm of John E. O’Donnell & Associates.
The higher tax rate was based on values from 2012, when the median price of a single family home in Androscoggin County was $133,250.
O’Donnell had told the council previously that the revaluation this year was based on the 2022 selling price of homes in Mechanic Falls.
The average 2022 selling price of a single family home in Androscoggin County was $279,000.
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