State: Fort Kent property valued at $196 million

By Julia Bayly, BDN Staff
Posted Nov. 11, 2008, at 8:08 p.m.

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.

http://bangordailynews.com/2008/11/11/news/aroostook/state-fort-kent-property-valued-at-196-million/ printed on July 29, 2014