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Somerset County commissioners describe revaluation shifts; waterfront owners bear steepest increases
Summary
Commissioners said a county revaluation raised taxable valuation in the unorganized territories by about 37%, with a mill rate decline limiting total tax revenue growth to roughly 3%, while waterfront properties experienced much larger percentage increases; the county will host informational meetings and the state assessor will appear for questions.
Somerset County commissioners on Monday discussed a recent revaluation that raised taxable valuation in the unorganized territories from just over $1 billion to about $1.5 billion and its uneven impact on property owners.
An official summarized the county figures and said the mill rate fell about 25% — moderating the effect so that “the overall money collected through taxes is only like a 3% increase,” according to Speaker 3. But several commissioners and speakers warned that waterfront properties saw much larger valuation…
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