MILLINOCKET, Maine — Great Northern Paper Co. LLC recently made its largest single payment yet, $477,700, but is still about $74,035 short of full payment of last year’s $1.18 million tax debt, officials said Tuesday.

The $477,700 payment was wired to the town on Dec. 31. It represents almost all of the $1.18 million principal of the personal property taxes Great Northern Paper Co. owes for its Katahdin Avenue industrial park site and the real estate taxes on one of its off-site houses. The debt represents the taxes owed for the 2013-14 fiscal year, which ended June 30, Town Manager Peggy Daigle said.

“They have stepped up to the plate for Millinocket and I am very happy about this payment,” Daigle said Tuesday.

Two Great Northern corporate entities that own equipment and real estate in Millinocket, GNP Holdings II, LLC and GNP West, Inc., and the company that formed them, Cate Street Capital, owed $1,454,131 to Millinocket for the 2014-15 fiscal year as of Monday, Daigle said.

Daigle expressed little confidence that the companies’ officials would make its next payments on-time.

“I don’t know,” she said. “I am concerned.”

Calculated on Monday, the $74,035 represents the daily interest charge on the $1.18 million, plus the real estate taxes owed on the Katahdin Avenue land and buildings for the 2013-14 fiscal year by GNP West, Inc., Daigle said.

The town charges $467 per day in interest on the $1.18 million debt, Daigle has said. The company had agreed to make a significant payment by Jan. 1, Town Council Chairman Richard Angotti Jr. said.

“They waited until the 11th hour,” Angotti said.

GNP hired an auctioneer, Koster Industries, to sell its equipment from its Katahdin Avenue industrial site June 17 and to pay taxes owed to Millinocket and the Internal Revenue Service. The auction came after the IRS and town placed liens on the equipment.

Koster blamed the delays in payment that ensued on difficulties in collecting from auction participants. The delays caused much angst among town councilors who said that the nonpayment threatened the town’s ability to pay its bills. Koster officials told Daigle last week that they would no longer be handling GNP’s debt, she said.

Since then, a federal court judge in Bangor granted two GNP corporate entities Chapter 7 bankruptcy. The entities, which oversaw aspects of the company’s paper mill in East Millinocket, have more than 1,000 creditors who are due payments.

The last Millinocket tax payment made by Koster, $180,000, occurred Oct. 21, Daigle said.

The council will discuss the payment when it meets Thursday at 4:30 p.m.