Verso’s Jay mill’s value to be reduced by $223M
Jay town officials have voted to lower the valuation of Verso Paper’s mill there by approximately $223 million, but the company said it should be even lower.
The Lewiston Sun Journal reported that Jay’s Board of Selectmen unanimously voted to lower the mill’s value from $815 million to $591.9 million for the 2013 tax year. It also voted to grant the company a tax abatement of $829,258.
The newspaper reported that Verso was seeking to have the mill’s value lowered to $460 million. “We do not understand how the town arrived at the numbers in the document they gave us tonight and why our tax payment did not significantly go down in proportion to the town numbers," Verso spokesman Bill Cohen told the Sun Journal in an email.
Verso will be able to appeal the decision.
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