By Associated Press - Friday, April 24, 2015

SKOWHEGAN, Maine (AP) - A Skowhegan town board has rejected a request by the owners of the Sappi paper mill to lower the taxable value of the property.

Sappi Fine Paper North America wanted to cut the property tax value of its mill by more than $137 million, which would have cost the town $2.3 million in revenue.

The Board of Assessors by a 3-0 vote Thursday night denied Sappi’s request, saying it was not convinced the company’s appraised value of the mill was correct.

Company officials said while they appreciate the time and effort invested by Skowhegan officials, they are disappointed and plan to appeal.

The mill is assessed for taxation by the town at nearly $464 million. The company says the value is $326 million.

The mill is the town’s biggest taxpayer.

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