FORT KENT, Maine — According to the state, the town of Fort Kent is worth $196.3 million when it comes to taxable property.
That’s up $12.5 million from last year’s state revenue services valuation.
“This is fairly reflective of our own valuation of $203,937,000 based on our most recent revaluation,” Town Manager Don Guimond told the Town Council Monday evening. “But [the town’s] valuation included all of the 2007 property sales, and that only gets picked up by the state next year.”
Before the completion of a townwide revaluation this year, homes in Fort Kent were selling for prices nearly double their appraised value.
In 2006, for example, a home with a town-appraised value of $112,000 sold for $245,000. In 2007 a home appraised at $73,200 sold for $117,500.
“This really shows how out of whack our own numbers were,” Guimond said.
In related fiscal news, Guimond told the council excise tax collections are down $65,000 for the year and he is forecasting that by the end of the year the collected taxes will be $75,000 less than last year.
“That’s better than the $100,000 less in excise tax we were afraid it would be,” Guimond said.
Before the start of the Monday night meeting the council held a work session to discuss proposed changes to the town’s road, subdivision, animal control and property address ordinances.
Residents will vote on those changes at a public hearing at 6:30 p.m. Monday, Nov. 24, at the town office.