- Associated Press - Tuesday, October 28, 2014

MADISON, Maine (AP) - Officials in a Maine town are fighting the state’s assessment of the town’s taxes on the grounds the assessment doesn’t reflect the loss of value of Madison Paper Industries.

The Morning Sentinel (https://bit.ly/1wDuvum ) reports Madison’s selectmen voted Monday night to appeal the assessment of the town’s county and school taxes. The state wants to assess the town at $491.6 million in 2015, which is $6.75 million less than the 2014 valuation. The selectmen say the assessment doesn’t take into account a loss of about 25 percent of the town’s tax revenue due to the nearly $150 million drop in value of Madison Paper Industries.

The town’s valuation is used to determine how much a town pays in county taxes and how much state funding goes to schools.

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Information from: Morning Sentinel, https://www.onlinesentinel.com/


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