$2.02 billion! Small town, huge value

MOUNT DESERT — The town of Mount Desert continues to be one of the most property-rich municipalities in the state, with a preliminary 2017 state assessment of the value of privately owned property of $2.02 billion.

That is up about $96 million, or 5 percent, from the 2016 valuation.

The other municipalities in Hancock County with more than $1 billion in property are Bar Harbor, with a preliminary state assessment of $1.49 billion, and Ellsworth, with $1.04 billion.

For the current year, only 12 municipalities in Maine have property valuations totaling $2 billion or more, led by Portland with $8 billion. Bangor has $2.54 billion.

Some towns that are larger than Mount Desert and are considered among the state’s wealthiest have smaller total property values: Kennebunkport, $1.94 billion; Cape Elizabeth, $1.84 billion; and Camden, $1.2 billion.

Mount Desert’s property valuation is larger than the combined valuations of Rockland and Rockport and of Boothbay and Boothbay Harbor. It is about the same as the city of Brunswick’s valuation ($2.08 billion) and not much smaller than that of Lewiston ($2.2 billion) and the entirety of Piscataquis County ($2.38 billion).

Mount Desert has a year-round population of only about 2,100, but its total property valuation is so high because of the large number of multi-million-dollar summer homes. That is why the town’s property tax rate is relatively low, currently $7.27 per $1,000 of assessed property value.

Dick Broom

Dick Broom

Reporter at Mount Desert Islander
Dick Broom covers the towns of Mount Desert and Southwest Harbor, Mount Desert Island High School and the school system board and superintendent's office. He enjoys hiking with his golden retriever and finding new places for her to swim. [email protected]
Dick Broom

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