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Presentation outlines options to raise town certified ratio, recommends staged market adjustments
Summary
At a Select Board meeting, staff outlined that Phippsburg’s certified ratio remains at about 60% and described town‑wide market‑based assessment adjustments as revenue neutral; staff recommended staged increases (20–25% now, further adjustments later) ahead of a revaluation and reminded the board the certification is due June 1.
Speaker 7, presenting to the Select Board, said the state is projecting a 60% certified ratio for the town and explained how market‑based assessment adjustments work. "Right now you're projected to be the state is giving you a 60% certified ratio, percentage to certify at, which is exactly where you were last year," Speaker 7 said, adding that a town‑wide market adjustment does not by itself raise municipal revenue because the mill rate falls to compensate.
The presenter advised the board that making a 20–25% market adjustment this year, followed by an additional increase next year ahead of a scheduled revaluation, would likely improve the town’s realized homestead exemption for residents and make the tax values fairer across properties. Board members asked for clarification about how much of the homestead exemption residents would realize and what data the assessor will use; Speaker 7 said more precise numbers will follow once town staff complete a sales analysis and property card updates.
Speaker 7 emphasized the deadline for submitting a certification option to the state, noting the town must act before the June 1 submission date. The board did not adopt a formal decision at the meeting; staff said they would return with a more detailed spreadsheet and recommended certification scenarios for the board to consider at an upcoming session.
