SKOWHEGAN, Maine - The owners of a Skowhegan paper mill say a recent $104 million assessment revaluation by the town doesn't go far enough.
The Morning Sentinel reports Sappi Fine Paper North America executives still believe the bill is overvalued by the town at $463 million. The mill is the town's largest taxpayer. The drop in valuation resulted in the town raising its tax rate by about five percent. Sappi paid $9.3 million in taxes last year.
Sappi spokesman Mark Hittie says the company is reviewing the outcome of Monday's revaluation by the town. He says the firm is "hopeful that an appropriate settlement can be reached to address the overvaluation'' of the mill.
Hittie says the mill needs a lower valuation to compete in a troubled paper industry.