7574-R1_LGP_MechanicFalls_AnnualReport_2021_Text_4C_Web

or the Public Works Bull Dozer. Additional future projects are included such as funding the eventual expense of capping our landfill at its end of life (a cost of approx. $500k) and the continued development of our recreation facilities. These are all topics and priorities to be discussed, hopefully in length, so that what we can present to voters at the end is not just an annual budget but a mutually agreed upon investment plan for the future development of the town. Lastly, as the discussions grow at the national level around a federal $15 minimumwage that impact is clearly on our radar. Though it may take a couple years to fully realize we do not wish to take the brunt of it all within one budget. Therefore, what is included within the Fire/Rescue budget this year is a reconfiguration of the pay scale based on a $15/h minimum pay for our first responders. This is an increase from $12/h within the current year budget and does not recognize adequately the risks and responsibilities these individuals assume when they respond to an emergency tone, but it is a first step. Finally, I wanted to touch base with how this plan fits the bigger, historical picture of the town. In my first year here, I completed a 50-year historical assessment of the mil rate compared to the town valuation. In order to make sure we are comparing apples to apples; I also adjusted this historical data as it relates to today’s inflation rate. This ensures that, when we are talking about the affordability of services for some of our most vulnerable community members, we are talking about the buying power of a paycheck. The historic valuation of the town rose a sizable 224% in 50 years, when adjusted for inflation. This is an increase of property values at a rate of almost 4.5% per year and represents not just the growth of the town, but its resident’s gains on personal assets. The blue arrows in these graphics indicate years where the town completed a thorough revaluation process with an independent assessing agency. This is undertaken at regular intervals to ensure fairness in the sharing of our mutual obligations. It also correlates values with general market trends. We have been including funds within our capital Improvement Plan over the years to fund the town’s next revaluation and expect to do so in 2023. Last year our Certified Ratio dropped from 95% to 80%, indicating a known discrepancy between the assessed value and the anticipated value of the town, which increases the urgency for us to complete this process. This strategic use of the revaluation process has allowed for an equal and opposite reduction in the Mil rate each time it was completed. As new homes are built and new businesses are attracted to town our trending 1.7% average increase in municipal expenses are eclipsed by the trending 4.7% of new value development. As we prepare for this process it is essential for us to focus whole heartedly on attracting new development and improvement of our existing supportive infrastructure to ensure a lower mil rate.

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