ELLSWORTH — The state’s valuations of most of Hancock County’s municipalities rose last year, though not by much.
The valuations are used by the state in determining state aid to local schools. The valuations also are used by Hancock County to assess each municipality’s share of county government budget.
The state property valuation for 2017-18 shows modest growth — up 2.5 percent overall. Stated another way, the total value of the property in Hancock County is $12,927,950,000 compared to last year’s $12.6 billion. Ellsworth and the Mount Desert Island towns of Mount Desert and Bar Harbor each surpassed the billion dollar mark.
Bucksport is still recovering from the closing of the Verso paper mill late in 2014. In 2016-17, the valuation dropped from $673 million to $434.8 million. The 2018 figure is $427,850,000, down 1.6 percent from last year.
The state property valuation is the result of field work, consultation with local assessors, a sales ratio analysis, a report of assessment review and a three-year comparison of valuation figures. The valuation includes land, buildings, production machinery and equipment and business equipment.