Revaluation FAQ

A Revaluation is the process of conducting the Data Collection and Market Analysis necessary to equalize the values of all properties within a municipality for the purpose of a fair distribution of the tax burden. The purpose of a Revaluation is not to raise or lower the tax assessments or tax base of a municipality. The main purpose of a Revaluation is to establish fairness and equity among all property owners and all property types.

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A Revaluation is done to equalize the values within a municipality to ensure a fair distribution of the tax burden. Property values change over time, but they do not all change at the same rate. Market value may have increased more for some neighborhoods and property types than for others, while others still may have decreased in value. A Revaluation is done to make sure assessed values reflect changes that have occurred in the real estate market. A Revaluation includes measuring and listing all properties to verify existing assessment data. The end goal is for assessments to be adjusted to reflect market value as of April 1, 2026.

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No, it is to create an equitable distribution of the property taxes, based on market value, required to meet the needs of local schools, government, and the county.

The Revaluation will be effective for the April 1, 2026, assessment date and reflected in the 2026-2027 Tax Commitment in July 2026.

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Below are a few of the assumptions that underlie the International Association of Assessing Officer’s Standard on Data Quality, as approved April 2021.

• High-quality data used as an input foster high-quality assessments.

• The quality of recorded data erodes over time as physical, economic, governmental, and societal factors change.

• Quality data and consistent practices are required and ensure that assessments are accurate and fair.

The last city-wide revaluation occurred in Bangor during the 1980’s. Sales have taken place where there is a significant difference between the assessed value and the sale price. Much of the difference is attributed to the assessed values being based on older property data. Title 36 of the Maine Revised Statutes Section 328 expressly requires that assessors perform a physical inspection and inventory of each parcel of land at least every four years. A review found that only 32% of properties in the City have been inspected over the last ten years.

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Full Revaluations involve the interior and exterior inspection and re-measurement of all properties, which necessitates entry into each residence or building.

Statistical Revaluations use existing data to revalue properties, avoiding onsite property inspections except to confirm validity of data for a sample of properties. The City has performed the in-house Statistical Revaluations each year since the last full revaluation was completed in the 1980s.

With respect to each of these processes, the resulting valuations from a Full Revaluation are much more accurate than a Statistical Revaluation.

All factors that may affect the market value of your property will also be considered, such as the cost to replace your building(s) less any depreciation, plus the value of the land could be used to estimate the market value. For income producing properties, the income and expenses will be considered.

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The purpose of the inspection visit is to verify the current property data on file with the Assessor's Office. This includes exterior measurements of all buildings (main structure and outbuildings) and interior information such as building quality, condition, bedroom and bathroom counts and construction materials used. How many dwelling units are on the property. Has the attic or basement been finished. Have there been any recent renovations. Are there items that need to be replaced? What type of flooring is in the home. What types of heating/cooling equipment are in the home. In the end, the overall quality and condition will be estimated based on this objective data. The data collector will take a digital image/photo of the structure's exterior. No interior photos will be taken.

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If a property owner is uncomfortable with an interior inspection, they can verify the interior information at the door. The data collector will ask a few questions such as: What year was the house built or remodeled? How many bedrooms and bathrooms are in the home? Has the attic or basement been finished? How would you describe the overall condition of the home? Have there been any recent renovations? Are there items that need to be replaced? What type of flooring is in the home? What type of heating/cooling is in the home? The overall quality and condition will be estimated based on the responses and factual data will be updated.

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The data collector will inform the tenant that the owner was sent an inspection post card. While the data collector is there, the tenant could call the landlord to see if it's ok to allow KRT into the home. If the tenant is uncomfortable letting KRT in, the data collector will inform them that a letter will go out to the owner in the winter of 2026 asking for an interior inspection appointment. At that point, the owner can arrange for an inspection around the tenant's schedule.

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The Assessor’s Office maintains a complete record of each property. Information is kept current through permit inspections, sales inspections, periodic re-inspection and exterior reviews; these records are available for your review in our office, as well. Current data will be considered by KRT when they establish a new value.

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The Revaluation will consider all three approach to value: Cost approach, market-sales approach and the income approach. Each approach utilizes a different formula. The real question is whether the final total value is in the ballpark (within 10%) of market value.

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There are two very good methods of determining this. First, compare your property to similar, nearby properties that sold in the previous year. Your value should be in line with these sale prices. Second, if no recent sales are available, compare your assessment to other similar properties in your area using the data available in the Assessor’s Office or on the City website. Your value should be in line with these similar properties. Remember, very few properties are exactly alike. Your value should be comparable, but it seldom will be exactly the same as what seems to be a similar property.

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Although a Revaluation may result in an adjustment to nearly each individual assessment; it does not mean that property taxes will increase. Please remember, assessments are only the base that is used to determine the individual tax impact on each and every taxable property. Key point - The overall budget, and the tax levy, for the city is not related to the revaluation. The tax levy is the amount of property taxes needed to fund municipal, school and county approved budgets.

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In the State of Maine, property tax rates are typically denominated in millage rates. A mill represents the tax per thousand dollars of assessed value. For instance, if a home has an assessed value of $200,000 and a mill rate of 20 (which translates to $20 of tax per $1,000 of assessed value), the annual property tax would amount to $4,000.

Date of Valuation -- Bangor’s Historic Mill Rates

04/01/2019         $23.00

04/01/2020         $23.20

04/01/2021         $22.30

04/01/2022         $20.40

04/01/2023         $19.15

04/01/2024        $18.55

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No. The City, School and County approved budgets determine the amount to be raised via taxation, regardless of the change in property values. Revising valuations ensures that the property tax burden is distributed according to a more accurate estimate of value. 

This is the concept of uniformity and the basis for Maine property tax law.

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We cannot say at this time, as the final mill (tax) rate (corresponding to the revaluation year) will not be set until the tax commitment in July 2026. Your assessed value may go up, but it is possible the mill (tax) rate may go down, which would result in a moderate increase in taxes, or potentially even a decrease. Keep in mind that the mill (tax) rate is based in part on City, School and County budgets. Typically, if you see a big increase in assessed value, it is because your property has been undervalued for some time or you’ve made improvements.

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A notice stating the proposed assessed value will be mailed to each property owner. The goal is for this phase to be completed by June of 2026. The mill rate (the rate used to calculate property taxes due) is determined after the municipal, county, and school budgets and property values are finalized. The Assessor typically delivers the list of new values and taxes due to the Tax Collector during the month of July and tax bills go out by the middle of August; it is at that time that we can tell you what your tax bill will be.

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If you believe the assessment on your property is in excess of its Fair Market value, you are afforded the opportunity to appeal. You should first notify the appraisal firm KRT to set up an informal hearing. When questioning the assessment value, ask yourself three questions:

1. Is my property data correct? (living area, bedrooms, baths, lot size, etc.)
2. Is my value in line with others on the street?
3. Is my value in line with recent sale prices in my neighborhood or comparable areas?

If you believe the new assessed value does not represent fair market value of your property, you will be afforded an opportunity to have your concerns addressed through informal hearings, as well as more formal processes. Details regarding the appeal process will be published in the coming months to ensure taxpayers are fully aware of their rights and options.

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Towards the end of the Revaluation Project, every property owner will receive a notice of their proposed valuation based on the analysis performed. When a property owner has a question or concern about the proposed valuation, they are asked to schedule a date and time to discuss the valuation process and get answers to any questions they may have. An informal hearing is not a forum to discuss taxes; it is strictly meant to answer questions on the property valuations.

Property owners are asked to come prepared with questions and should have already compared their property to other similar sale properties in their neighborhood. Once the hearing is finished, a determination will be made on the need for further review and if changes are warranted.

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If you still feel entitled to relief after meeting or speaking with the Assessor, you should file a formal appeal in accordance with Maine State Statute, Title 36, §843: Appeals.

Yes. You should pay your taxes under protest for two major reasons:

1. To avoid interest being added and avoid any court costs including attorney's fees, if your non-payment is referred for collection.
2. So you will not lose your right of appeal for nonpayment as required by law.

Yes, tax relief programs that are available: Veteran's Exemption, Homestead Exemption, Blind Exemption, Property Tax Fairness Credit, Property Tax Deferral Program, Tree Growth Tax Program, Farm and Open Space Tax Program. For businesses: Maine Business Equipment Tax Reimbursement Program (BETR) and the Business Equipment Tax Exemption Program (BETE). Information on these programs is available on the Property Tax page.