North Berwick select board sets tax commitment at 9.35 amid large revaluations of industrial properties

The Town of North Berwick Select Board voted to set the municipal tax commitment rate at 9.35 cents for the 2026 fiscal year during its meeting, citing unusually large increases in assessed values for several industrial parcels and the need to protect the town against potential successful abatement claims.

Town staff described a recent set of outside industrial and commercial appraisals that produced “substantial” increases in assessed value for major companies in town. “Pratt went from about $43,000,000 to $103,000,000,” the staff member said, and Hussey’s valuation rose from roughly $7,000,000 to about $16,000,000. The staff member told the board these appraisals were prepared by a qualified firm and that the town had already applied a partial reduction factor to the appraised values.

The staff member said the town’s total taxable valuation increased by roughly $155,000,000 this year and that new construction added about $12,000,000 in value. Because those industrial accounts can request abatements, the staff member recommended a larger overlay to protect the town’s budget if appeals reduced assessed…