MULGRAVE: Officials with the Town of Mulgrave say they’re facing a loss that’s “quite a blow” to their commercial tax base.
Town officials said a $100,000 budgetary shortfall comes from the successful appeal of the commercial tax assessment of an unnamed company in the town.
After the regular monthly town council meeting on February 4, Mulgrave Mayor Ralph Hadley said the town wouldn’t absorb the loss all at once and would spread it over the next two budgets.
“In our commercial taxes, 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 and make that up, but everybody has a right to appeal their taxes.”
The loss of $100,000 in revenue is quite the blow to the town and Hadley said it will affect their programs and other budget items. He advised officials will have to review all of their departments, everything from public works to the fire department, to recreation, and to all their headline programs, to try and find money.
Hadley said it’s still too early to say how the loss will impact the tax rates on the town, if at all.
“I hope 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 it up.”
The town will try to come up with solutions during their budget deliberations taking place in early March.