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Scarborough Tax Rate Estimated at $16.49

posted Aug 31, 2017, 5:10 PM by Colette Mathieson   [ updated Aug 31, 2017, 5:11 PM ]

The Town has finalized the new valuation of the Town at $3,785,288,042.  This new total valuation, when combined with the approved budget,

produces a tax rate of $16.49/$1000, a 3.58% over last year. 

 

The new valuation was the result of a total net increase of $9,005,542.  This is an incredibly small amount of increase compared to our historical average and is due to an abnormally high amount of exemptions this year, totaling nearly $53,000,000.  The two largest components of the new exemptions relate to the increase in the Homestead exemption amount which exempted $24,252,000 in value and $14,578,000 in personal property value that qualified for the BETE exemption.  

 

The resultant tax rate is coincidentally the “cautious” tax rate estimate that has been published throughout the budget process. More detailed information from the Assessor will be provided regarding the factors affecting the valuation as well as the tax rate.  We expect to finalize the tax commitment next week with tax bills sent during the week of September 11 and a due date for the first half payment on October 15.

Please see attached the Total Tax Rate Computation Sheet.

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Colette Mathieson,
Aug 31, 2017, 5:10 PM
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