Originally published in Island Ad-Vantages, July 31, 2014
Deer Isle sets mill rate unchanged from previous year
Taxes due August 31
by Faith DeAmbrose
Taxes in Deer Isle will largely remain unchanged this year when tax bills hit the mailbox in the coming week. Deer Isle’s board of selectmen set the town’s mill rate at $22.82 per $1,000 of valuation at its July 18 meeting, unchanged from last year’s rate.
The town of Deer Isle has a total taxable real estate valuation of $212,726,128 and $366,204 of taxable personal property from which to draw income.
Based on spending at town meeting—which included $1,145,658 for municipal expenses, $4,005,414 for school expenses and a county tax assessment of $204,786—$5,355,858 needed to be raised.
The mill rate also reflects $138,133 in “overlay” funds, which provide a cushion in case taxes are abated (or not paid) throughout the course of the year.
While the mill rate remains unchanged, explained Third Selectman Lewis Ellis in a recent telephone interview, some residents may see a slight change in their overall tax assessment. Due to changes in the way Homestead and Veteran’s exemptions were calculated this year (based on new information and processes by the hired assessing agent), the Homestead exemption will be slightly less and the Veteran’s exemption will be slightly more than in year’s past.
Tax bills are expected to be mailed by week’s end, and payments are due back by August 31.