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Caribou council adopts 2025 tax rate of 22 mills and sets delinquency interest date
Summary
Following the school budget vote, the council adopted Resolution No. 3 (2025) setting the municipal tax rate at 22 mills, adjusted assessed residential values upward about 5% for certification, and set delinquent interest to begin Dec. 16, 2025.
The Caribou City Council on Sept. 15 adopted Resolution No. 3 (2025) establishing the 2025 property tax rate at 22 mills, reflecting recent assessed-value adjustments and incorporating local budget decisions and county and school commitments.
Finance Director Carl Grant and City Manager Penny Thompson reviewed valuation changes and revenue lines. The assessor adjusted residential land and building values by 5% to certify at 100% with Maine Revenue Services; commercial values were not moved, the manager said, because many commercial assessed values already exceeded asking prices and there were few commercial sales to guide changes.
Thompson explained the TIF (Tax Increment Financing) district captured value increased year over year; the municipal portion of revenues and the TIF captured value numbers were presented in the packet. The council adopted a municipal overlay and an even mill rate of 22 to simplify tax calculation. The municipal portion of the tax commitment will increase relative to last year by approximately $212,206.98. The packet also reported the TIF captured value for the year at $945,007.68.
To provide taxpayers time to pay, the council set the date interest begins on delinquent taxes to Dec. 16, 2025. The council also set the delinquent interest rate at the state maximum for 2025: 7.5 percent. The council approved related motions to amend revenue line items to match certified valuation and to close city offices at 1 p.m. on Wednesday, Dec. 31 to allow year-end processing.
Councilors and the manager noted the effort of staff in refining budgets and tax calculations after the recent school budget vote; the motions passed by voice vote and the assessor and finance director will complete commitment paperwork and tax bill mailings.
