Town officials in Mulgrave say they’re facing a loss of commercial tax revenue.
They say the $100,000 shortfall comes after reps with an unnamed company in the town successfully appealed their commercial tax assessment.
After February’s regular town council meeting Monday night, Ralph Hadley, the town’s mayor, said the loss will be spread across the next two budgets, instead of absorbing it all at once.
“We’re getting a shortfall of $50,000 from one commercial company this year and next year,” he said. “That’s quite a blow to us- we’ll have to try and find that in our budget to try to make that up.”
Hadley said they’ll review all their departments and programs to try to find that money.
He said it’s too early to say how the loss will impact tax rates in the town.
“I’m hoping that we don’t have to raise taxes- we didn’t look at it yet, we’re still early on that,” he said. “If we have to, we will, but we’re hoping that we can find that (and) make that up.”
Hadley said they’ll try to come up with answers during their budget deliberations in March.
