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Select Board approves 2026 tax commitment, sets rate at 0.00870
Summary
After an assessor's presentation showing a roughly $43 million increase in taxable valuation, the Bridgton Select Board voted to sign the assessor certification and set the municipal tax rate at 0.00870 (equivalent to $8.70 per $1,000). The vote was unanimous.
The Bridgton Select Board voted July 14 to sign the assessor's certification and set the municipal tax rate for 2026 at 0.00870, a decision the board approved after a presentation from the town's assessing agent.
Dennis Barabee, who introduced himself as the assessing agent for the town, told the board the town's total taxable valuation stands at 2,578,860,270 — an increase of roughly $43,000,000 from the prior year. He walked the board through the tax-rate worksheet, TIF (tax increment financing) impacts, and state reimbursements such as homestead and BETE (business equipment) amounts. "We are standing at 2,578,860,270, which is an increase from last year of approximately 43,000,000," Barabee said.
Barabee presented three rate options and the resulting overlays and reimbursements. He said the presented rate choices translated to roughly $8.67, $8.70 and $8.75 per $1,000 of assessed value; the board settled on the middle option. Barabee described how small differences in the rate produce substantial changes in the overlay: for example, the chosen 0.00870 option yields a relatively modest overlay compared with the highest option.
Select board members asked about historical overlay use and how much cushion the town should keep. The finance director, who the chair identified as Colleen and who spoke at the meeting, described the overlay as a cushion and said exact prior-year numbers were still being finalized. After discussion, a board member moved to execute the assessor certification and municipal tax assessment warrant at the rate of 0.00870; another board member seconded the motion. The motion passed on a recorded vote; the board then had the certified commitment papers signed.
Votes at a glance: the motion to sign the assessor certification and set the tax rate at 0.00870 passed (recorded in the meeting as a board approval; signatures were obtained onsite). The minutes record the vote as unanimous among voting members present.
The assessing agent said the tax levy (net to be raised) was $22,760,077.92 and the computed maximum allowable tax was $23,898,081.82; those figures were presented as the mechanics behind the rate choices. Barabee noted the town's valuation growth and new construction drove much of the change.
The board instructed staff to complete the signed commitment papers required to issue tax bills.
