Property taxes are poised to increase by 1.59 percent this fiscal year following a recent vote by the Board of Selectmen. Dan King photo

KENNEBUNKPORT – Property tax owners will see a 15-cent increase in their mil rate this year.

The board of selectmen set the tax rate at $9.60, up from $9.45 in the last fiscal year.

Town Manager Laurie Smith said the proposed budget for this fiscal year had projected a $9.91 mil rate – a 5 percent increase, but as it turns out, that wasn’t necessary.

“The school commitment ended up coming in lower, (than expected) even though their budget was increased,” said Smith. “The amount they needed from Kennebunkport was lower than last year because they had a large amount of carryforward funds from fiscal year 21. The county budget came in slightly higher.”

The town’s valuation was  $2.11 billion in the last fiscal year, said Sheila Matthews-Bull, chair of the board.

Smith said a $20 million increase in the town’s value had been expected this year – a 1 percent increase, but it came in at $27 million,  a 1.38 percent increase.

Smith told selectmen that the maximum mil rate allowed by the state would be $9.99 per $1,000 worth of property value.

“The staff recommends $9.60; that equates to a 15 cent, or 1.59 percent increase, with a $168,000 overlay,” Smith said.

“I think that’s very good, considering we kept it even last year, due to COVID,” said Matthews-Bull.

“‘I’m OK with it,” said selectman Allen Daggett. “I think it’s fair.”

The vote was unanimous of the four selectmen present at the online meeting. Selectman Ed Hutchins had been present, but technical difficulties arose, and he was off the air during the vote.