BUCKSPORT — Taxes will be going up in town this year. What remains to be seen is just how much.

Although the proposed municipal budget is down $68,000 from the current budget, the school budget bill will be up significantly.

If approved as presented, the Regional School Unit 25 (RSU 25) budget will require almost $315,000 more from Bucksport taxpayers.

One other variable that could have a large impact on the tax rate is the shutdown of the number 2 paper machine at the Verso mill last year.

At the May 22 Town Council meeting, Town Manager Michael Brennan gave councilors an example of what could happen to the town’s tax rate if the mill’s value drops because of the paper machine shutdown.

Brennan offered a hypothetical example and said a $20 million drop in valuation at the mill would translate into a loss of about $250,000 in tax revenue.

Town officials don’t know for sure how much Verso’s valuation might change. Brennan said the town expects to know more by Friday, May 25.

If the $20 million figure is correct, the $250,000 would need to be made up by being distributed proportionally among all the town’s taxpayers.

For more of the latest news, pick up a copy of The Ellsworth American.