Bath Valuations and Assessments 2012-2023

City Valuations and Tax Rates

As part of the City's efforts to update our comprehensive plan, we've been reviewing the history of Bath's tax rates and assessments over the past decade. We hope you find this data interesting and helpful!

The reduction in the tax rate in 2019 is due to the city-wide revaluation that was completed for the 2019 tax year. The 2023 reduction in the tax rate is due to the valuation update completed this year. 

Since 2012, the percent of our taxable valuation that is business equipment has dropped nearly in half. This is because much of the most valuable new business equipment is exempt from taxation under the Business Equipment Tax Exemption (BETE) program. The state reimburses the City for a portion of this lost revenue, but we each pay $82 for every $100,000 in property valuation to make up for the loss of this valuation base.

State Funding and Reimbursements to the City of Bath

The City's tax rate is also affected by State funding and reimbursements provided to the City of Bath. The following charts show three areas where State funding makes a difference.

The recent increase in revenue sharing (and the reduction in state revenue sharing from 2013-2018) make a significant difference in the City's tax rate. We received $2,017,243 in municipal revenue sharing in 2023, which reduced our tax rate by about $1.20.

The homestead exemption is a popular and valuable way to reduce the tax burden for Bath residents and homeowners. Recently, the State Legislature has passed a plan to increase the amount of State reimbursement to the towns for the loss in revenue from the homestead exemption. The number of homestead exemptions varies each year, but in 2023 we have 1,718 homestead exemptions and will receive $551,650 in reimbursement. However, all Bath property tax payers pay an additional $10 for every $100,000 in their valuation to make up the $174,205 balance of lost tax revenue due to the unreimbursed homestead exemption.

Bath's exempt Business Equipment is valued at over $210 million in 2023. The State Business Equipment Tax Exemption (BETE) program includes most new (since 2007) business equipment at non-retail businesses. The State of Maine reimburses the City of Bath for a portion of the tax revenue lost from the exemption.

Although Bath will receive $2,162,064.53 from the State of Maine in BETE reimbursement in 2023 (making the State of Maine, in effect, Bath's second largest tax payer), all Bath taxpayers pay more in taxes because Bath is unable to collect taxes for the unreimbursed $82,126,788 in exempt business equipment valuation.

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