The Old Orchard Beach Town Council approved the $23.8 million municipal budget for FY25 June 4.
The overall $23,779,829 budget includes department operating costs, social services, utilities and fuels, and wages and benefits. The budget is up $1.4 million, or 6.47%, from last year’s budget.
The mil rate is $11.38 per $1,000 of property value, meaning the owner of a home assessed at $500,000 will pay about $5,700 in property taxes for FY2024 year which begins July 1.
“The municipal budget is driven by priorities and fiscal accountability,” Town Manager Diana Asanza said.
The town’s Capital Improvement Program portion of the budget is $3.2 million, and will go towards administration, recreation, public works, public safety, and wastewater facility upgrades.
Resident George Kerr thanked the Town Council for their hard work on this year’s budget.
“There’s something in this budget for everybody,” Kerr said.
The town’s Non-property Tax Revenue for FY25 is $7.6 million. This comes from state revenue sharing, permits and licenses, public safety fees, excise tax, and investment income; not from property tax payments.
Also at the June 4 meeting, the town manager announced that the town is currently undergoing a full assessment of the Ocean Park marshes.
The town received a Coastal Community Grant from the Governor’s Office of Policy, Innovation and Future to assess the marshes in Ocean Park for long term health and resilience as it relates to sea level rise.
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