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Select board signs assessor commitment and adopts tax rate of 0.00870
Summary
After an assessing-agent presentation showing a roughly $43 million valuation increase, the Bridgton Select Board voted to sign the municipal tax assessment commitment and set the tax rate at 0.00870. Members debated three rate/overlay options before approving the motion.
The Bridgton Select Board voted to sign the Assessor Certification of Assessment, Municipal Tax Assessment Warrant and Certificate of Commitment and set the town tax rate at 0.00870 after a presentation by assessing agent Dennis Barabee.
Barabee told the board the town’s total taxable valuation stands at 2,578,860,270, “which is an increase from last year of approximately 43,000,000,” and walked members through the calculation worksheet showing how homestead reimbursements, business-equipment exemptions (BEDI) and tax-increment-financing (TIF) districts affect the levy and overlay. He presented three rate options and associated overlay amounts, telling the board the options would produce different overlays and different bill-rounding outcomes.
“Our first selected rate…is a rate that would be $8.67,” Barabee said while showing the staff packet; other options he presented included $8.70 and $8.75, each producing larger overlays. He explained the overlay is the contingency amount that lets the town collect up to a statutory percentage above the levy to cover nonpayment and other adjustments.
Select Board member Carmen moved to sign the assessor certification and adopt a tax rate of 0.00870; a fellow board member seconded the motion, which the board approved. The assessing agent said he would collect the signed commitment papers the next morning and that staff would begin preparing tax bills.
Why it matters: the board’s choice sets the dollar amount the town can raise through property taxes and determines how much will appear on 2026 tax bills. Board members said they balanced concerns about keeping an adequate contingency (overlay) with minimizing immediate rate increases for taxpayers.
Votes at a glance: the board also approved a reappointment to the EcoMaine board (Carrie Castleman Ross), renewed the victualer license for The Gazebo at 56 Portland Road, and approved treasurer’s warrants.
What’s next: assessing staff will gather signatures on the commitment documents and begin the billing process; the town manager and finance director will continue to monitor revenue and overlay needs through year-end.
