The
Katahdin region’s largest single taxpayer paid $1.42 million in property taxes
it owed East Millinocket and Millinocket this week, but that money won’t solve
the towns’ fundamental problems, officials said Thursday.
Wired
to the towns on Wednesday, the money diminishes but won’t end Millinocket’s
cash-flow crisis or East Millinocket’s need to further reduce school spending,
leaders in both towns say.Concessions from unions or cuts to public worker retiree benefits or higher taxes eventually might be necessary to keep town governments and schools operational, they said.
But the $363,171 to East Millinocket and $1,066,350 to Millinocket in principal and interest payments in overdue property taxes paid by Cate Street and its subsidiary, the new Great Northern Paper Co., are welcome, leaders said.
