WATERBORO – There’s nothing new with Waterboro’s tax rate this year.

Selectmen on Tuesday agreed to endorse the recommendation of Tax Assessor Shirley Bartlett of a $15.39 mil rate, the same as last year, which was 5 cents less per $1,000 worth of property than the year before.

Bartlett presented three scenarios – all with the mil rate of $15.39, with the only differences being the amount the municipality will use from the fund balance and how much to keep on hand for an overlay, should it be needed.

Town Administrator Gary Lamb pointed out that Waterboro gained $15.7 million in new taxable valuations in the last year – he said he expected a $10 million increase, but the figure turned out to be larger than expected.

Waterboro gained 41 new homes in 2018, and Lamb told selectmen two weeks ago that this calendar year is shaping up to be similar.

He said there has been no change in property valuations.

Selectmen voted their endorsement for the use of $550,000 from the fund balance to help keep the tax rate level, and the middle ground of $107,710 in overlay, which is typically kept on hand to offset any tax abatements.

Other options had been using $600,000 of fund balance with a $157,710 overlay, or a $500,000 use of fund balance, with a $57,710 use of overlay.

Bartlett noted that the municipality “squeezed by” with an overlay of about $19,000 last year; it was originally expected to be more, but additional personal property exemptions whittled that down.

Selectmen, in reviewing the scenarios, said they need to get the word out to businesses that there is a program whereby personal property tax for qualifying equipment can be reimbursed.

The Business Equipment Tax Exemption is a 100 percent tax exemption for eligible property. Waterboro Selectmen’s Board Chairman Dennis Abbott said the municipality gives 100 percent exemption for eligible capital equipment, and the state reimburses the municipality at 50 percent.

— Senior Staff Writer Tammy Wells can be contacted at 780-9016 or twells@journaltribune.com.