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Town approves settlement with Millennium Pipeline over tax assessment
Summary
The Town of Maine board approved a settlement resolving Millennium Pipeline Company's challenge to its tax assessment; town counsel said the deal reduces the pipeline's assessed value going forward and will slightly lower future tax revenue but is far less than what Millennium sought.
The Town of Maine board moved to finalize a settlement with Millennium Pipeline Company over the company's tax assessment for pipeline assets running through Maine and other municipalities.
A town staff member summarized the negotiation: "we negotiated a settlement agreement with Millennium, which I think was very favorable for the town," and said the deal reduces the assessed value of the pipeline going forward. The staff member added the reduction will cause a "slight loss of tax dollars for the town" in future years but clarified the amount is much smaller than Millennium’s original demand. The board indicated the settlement will resolve and dismiss the pending case once the agreement is finalized.
The discussion focused on the distinction between the value of the physical pipeline and adjacent properties; a resident asked whether future increases in surrounding property values could lead the town to "recoup some of that money," and the staff member explained the settlement applies to the pipeline asset itself, not the land. The board thanked town staff and outside consultants for negotiating the agreement. The board did not specify the precise dollar amount of the long-term revenue change during the discussion.
