JAY — The tax rate will increase following the settlement of a tax dispute on the valuation of the Androscoggin Mill and related property for the years of 2013, 2014 and 2015, Town Manager Shiloh LaFreniere said. Selectpersons agreed to give paper mill owner Verso a credit of $4 million over the next three tax years […]
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Posted inFranklin, sj-web
Town, Verso reach agreement on valuation
JAY — The town’s Select Board and Verso Corp. reached an agreement Monday to resolve valuation and tax disputes for the 2013, 2014 and 2015 tax years on the company’s Androscoggin Mill and associated property. Selectpersons agreed Monday to give Verso a credit of $4 million over the next three tax years in six credits […]
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Posted inFranklin, Livermore Falls Advertiser
Jay, Verso settle tax disputes
JAY — The Board of Selectpersons and Verso Corp. reached an agreement Monday to resolve valuation and tax disputes for the 2013, 2014 and 2015 tax years on the company’s Androscoggin Mill and associated property. Selectpersons agreed Monday to give Verso a credit of $4 million over the next three tax years in six credits […]
Posted inFranklin
Verso to close idled Kentucky paper mill
JAY — Verso Corp. announced Tuesday it is closing its paper mill in Kentucky by July 1. The last day for most workers is tentatively June 4, it said. Verso announced Aug. 20, 2015, that it planned to idle the Wickliffe, Ky., mill by the end of that year. The same day, Verso announced it […]
Posted inFranklin, Livermore Falls Advertiser
Jay grants Verso a tax abatement for 2015, reduces value of property
JAY — The Board of Assessors voted unanimously Thursday to reduce the valuation of Verso Androscoggin’s paper mill and associated property from $572.7 million to $424.3 million for the 2015 tax year. The board also granted the company a tax abatement of $886,157, Town Manager Shiloh LaFreniere wrote in an email. The abated amount will […]
Posted inBusiness, Franklin
Verso to ask U.S. Bankruptcy Court to determine taxable value of Jay mill
JAY — Verso Corp. plans to ask the U.S. Bankruptcy Court in the District of Delaware to determine the taxable value of the Androscoggin Mill and related assets in Jay for tax years 2013 and 2014. The company also wants the court to determine Verso’s entitlement to related property tax refunds from Jay under the […]
Posted inFranklin, Livermore Falls Advertiser
State board to hear Verso’s appeal of Jay’s 2013 tax assessment
JAY — A state board in May will hear Verso Androscoggin’s appeal of the Jay Board of Assessors’ decision last year on a tax abatement for tax year 2013. Verso Androscoggin owns a paper mill and related industrial facilities on about 580 acres at 300 Riley Road in Jay, including all real and personal property […]
Posted inFranklin, Livermore Falls Advertiser
Court allows Verso to continue normal business operations
JAY — Verso Corp. announced Wednesday in a news release that it received final approval from the U.S. Bankruptcy Court in the District of Delaware for a variety of first-day motions related to its voluntary restructuring under Chapter 11 of the U.S. Bankruptcy Code. These final orders issued by the court will allow Verso to […]
Posted inFranklin, Livermore Falls Advertiser
Verso requests tax abatement for 2015
JAY — Verso Androscoggin LLC and Andro Hydro LLC filed a joint application for an abatement of property taxes for tax year 2015. The companies claim the valuation of the paper mill, associated property and hydroelectric facilities should be reduced by at least $296.99 million, collectively. The town valued the real estate and personal property […]
Posted inFranklin, Livermore Falls Advertiser
RSU 73 advised of funding formula implications
LIVERMORE FALLS — Changing the cost-sharing formula for Regional School Unit 73 would require approval by a super-majority of directors — at least one from each of the three towns — and a majority of voters, directors were told Thursday night. The district was formed in 2011 and is required to evaluate its cost-sharing formula […]