The Orono Town Council approved a $16 million budget on Monday, a $443,516 increase from last year’s overall budget, although it’s not yet known what that will mean for residents’ taxes.
The town’s $4.5 million municipal budget increased by nearly eight percent, with a $383,123 jump from last year. The increase stems from a $747,010 bump in town operating expenses, the largest portion of which comes from a $345,000 increase for the police and fire departments.
The budget would raise last year’s tax rate of $21.35 to around $22, but the town will not calculate tax rates until Orono’s property valuation comes back. It’s expected to be completed by August.
A tax calculation will be presented at a town council meeting when the valuation is finished.
Last year’s budget predicted a $624,000,000 property valuation, but the assessment came back at $717,733,839. That jump in property values is one reason why taxes aren’t being estimated until the latest assessment is complete, Town Manager Clint Deschene said.
The town council also approved the county and regional school unit budgets. The county tax increased by $150,393, while Region School Unit 26’s $8.5 million budget did not change from last year.
