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MINUTES OF THE 1993 BUDGET HEARING <br />CITY OF ORONO <br />HELD DECEMBER 1, 1992 <br />budget. He said they have tried to keep the budget as fiscally <br />responsible as possible. <br />Moorse explained the proposed budget includes a 3.2% overall <br />increase of the General Fund, which includes a contingency amount <br />of $50,000 for anticipated costs related to the Highway 12 corridor <br />study and the potential cut in State Aid. He said the revenue loss <br />experienced by Orono is in part due to the economic conditions and <br />the uncertainty of the Highway 12 situation. He reviewed slides <br />showing the impact of the proposed increase and added because of <br />the loss of-the three tiered taxing system, the burden of the tax <br />Incredse has been shifted to the homes taxed within the first tier. <br />The increase in the budget represents a 9.6% increase in the City's <br />tax for the first tier properties, and a decrease for the remainder <br />of properties. <br />Barb Lohmann, 1860 Lakeview Terrace, stated the City's portion of <br />her tax bill has increased 17 %, not the 9.6% increase as proposed. <br />Kuehn explained the additional increase is due to the increase in <br />the valuation of the property, as well as the incrase in the tax <br />capacity rate. <br />Doris Merkert, 1840 Lakeview Terrace, expressed a similar complaint <br />and stated their income has actually been reduced, but their taxes <br />keep going up along with the value of the home. <br />Jabbour explained the State tax system formerly used a three tier <br />system, but the higher tier has been eliminated and the balance <br />absorbed by the lower tier. <br />Callahan stated 98% of the problem comes from the Legislature. He <br />suggested the property owners questioning their valuation appear <br />at the Board of Review in the spring. <br />James Steffenson, 4665 West Branch Road, noted when he purchased <br />his home in 1988 his taxes were $700 and now the taxes are $1,400. <br />Moorse clarified that the $1,400 is the total tax bill for the <br />property, not just the City's portion. <br />Jabbour stated when <br />In value six times <br />became fashionable <br />mandates the City <br />certain percentage <br />increase the City -v <br />he first moved to Orono, his property increased <br />In four years, in part due to the fact that it <br />to move to Orono. He added, the State law <br />to keep the overall City valuation within a <br />of the appraised value, or the County will <br />tide value to that level. <br />P✓ <br />