2021 Revaluation Project - Revalue Portland!
2021 Revaluation Schedule
April 1, 2021 – Annual assessment date in Maine. New values will reflect 100% of fair market value as of this date.
May 31, 2021 – Notices of new assessed values mailed to all property owners; new values available on-line; informal appeal hearing appointments open for property owners – instructions for scheduling will be included in mailed notices and posted on-line. Please note that all informal appeal hearings will be held virtually via phone and/or video call
June 7, 2021 – Virtual informal appeal hearings with Tyler staff begin
July 16, 2021 – Last day to make an appointment for a virtual informal appeal hearing with Tyler staff
August 13, 2021 – Last day of virtual informal appeal hearings
September 1, 2021 – Final tax rate for Fiscal Year 2022 will be known
September 10, 2021 – Fiscal Year 2022 tax commitment finalized; tax rolls and tax bills generated, tax bills out in the mail
September 13, 2021 – Formal appeal process starts – appeal applications accepted in Assessor’s Office
September/October 2021 – Fiscal Year 2022 1st half tax payments due – exact date TBD
March 18, 2022 – Fiscal Year 2022 2nd half tax payments due
March 24, 2022 – Deadline to file formal appeal application with the Assessor’s Office
*Schedule subject to change. Check website for updates.
Our Promise to You
A citywide revaluation is always a challenge, because the goal is to appraise thousands of properties all at one time, and in a way that is fair and equitable to all property owners. We strive to follow established industry standards for mass appraisal; however, we recognize that there will be situations where the mass appraisal approach may produce an estimate of value that seems somewhat high or low for an individual property. We are committed to working with all property owners to ensure that every property is appraised at a reasonable estimate of its market value.
Revaluations are commonly undertaken every 10 years or when a community falls below assessing standards set by Maine law. During a revaluation, all property in the municipality is reviewed and assessments are adjusted to their fair market value.
The City of Portland is currently conducting a city-wide revaluation of all real property. New values will take effect for the 4/1/2021 assessment date and will be reflected in the tax bills issued for FY22, mailed in the Fall of 2021. In order to ensure that the City’s tax burden is shared fairly among all property owners, it’s necessary to update our descriptions and valuations of properties throughout the City.
On average, Portland’s current valuations are approximately 70% of market value. Our goal upon completion of the revaluation is to get property assessments back to the State mandated 100% of market value standard. Portland’s last revaluation was completed in 2004 and many properties have changed significantly since then. This creates the potential for some Portland properties to be either over-assessed or under-assessed in relation to others. The goal in the revaluation is to improve the fairness of our property values so that all Portland taxpayers are treated similarly.
The appraisal firm of Tyler Technologies CLT Appraisal Services has been hired by the City of Portland to complete the revaluation project. Tyler’s Appraisal and Tax division will be working with the Assessor’s Office to make the process a successful one. The following is a general outline and explanation of each phase of the project.
There are five major phases to a municipal revaluation: Data Collection, Market Analysis, Valuation, Field Review and Informal Hearings.
PHASE 1: DATA COLLECTION
The first phase, Data Collection, will begin March 2019 and last for approximately 7-8 months. During this phase, data collectors, also known as “Listers," visit parcels to inspect and verify the measurements of the exterior of each building. These Listers note the building’s location, size, age, quality of construction, improvements, topography, utilities, zoning restrictions, if any, and numerous other characteristics. A new photograph of the exterior of each property is also taken. These photos are added to the Assessor’s database and available on the property record website. These will replace our currently used photos, many of which are over 10 years old.
All field representatives will carry identification cards and have their cars listed with both the Assessor’s Office and the Police Department.
PHASE 2: MARKET ANALYSIS
A variety of resources are used to analyze the real estate market. While the physical data is being collected by field listers, appraisal personnel will be analyzing recent sales that took place over the last two to three years to determine which market factors influenced property values. Once all the data is collected and reviewed for accuracy, the appraiser will determine land values and set neighborhood site indexes that indicate the market desirability of various Portland neighborhoods.
PHASE 3: VALUATION
Valuation is done using one or more of the three recognized methods: Sales Comparison, Cost and Income approaches to value. During this phase, individual characteristics of buildings are analyzed using information gathered in phases 1 and 2.
The Sales Comparison or Market approach is the most widely used, particularly for residential properties. This approach to property valuation uses information on recent open-market, arm’s-length sale prices. Differences in the characteristics of recently sold properties - use, size, location, quality of buildings, and so on - have an influence on prices. The Sales Comparison uses similar, comparable properties to determine a fair market value.
The Cost Approach to property valuation is a formula that uses the replacement or reproduction cost of improvements, less accrued depreciation. This is then added to the land value to determine the total property value.
The Income Approach to property valuation involves estimating the future income stream of the property and applying a capitalization rate to project that income stream to a present value.
PHASE 4: FINAL and Q/A REVIEW
Final Review is the phase of checking and re-checking both the values that have been determined and the data that has been collected. During this review, properties are viewed in the field by experienced appraisers and the City Assessor, who double check uniformity and accuracy of information. Quality Assurance checks are conducted to find any data anomalies that exist.
PHASE 5: INFORMAL HEARINGS
Once the Final Review is completed, a Notice of New Values will be mailed to each property owner. Anyone with questions concerning the revaluation process or about the data collected on their property has an opportunity to meet with a member of Tyler’s staff to discuss their property value and correct any errors found in the data collection or property valuation process.
Once the informal hearings have been completed, the City Assessor will commit the new values and tax bills will be sent out in the Fall of 2021 that reflect the Fiscal Year 2022 property valuations.
Whether the revaluation affects your property tax bill will depend on how accurate our current assessment is for your property. Some taxpayers may see a decrease in their tax bill, others may see a increase, while others may see their tax bill remain about the same.
The best way to ensure that your property is correctly valued, and that Portland’s tax burden is fairly distributed, is to ensure our information on your property is as accurate as possible. Please contact the Assessor’s Office if you have any questions or concerns about the process as we proceed.
Thank you very much for your help!
For more information on revaluation and answers to common questions about the process, please review the information below or call a revaluation representative at:
Revaluation Helpline - 207-874-8763
Revaluation Program Information
- 2019 Revaluation Program Overview
- Assessment Brochure Mailed to Residences April 2019
- Revaluations - Understanding the Process and the Myths (Maine Revenue Services)
- Understanding Your Assessment
- Policy and Procedures of Assessment Staff Conducting Field Work
- Updated Commercial Data Mailer News Flash
- Updated 2021 Commercial Property Owner Letter
- Updated 2021 Commercial Real Estate I&E Statement Worksheet
- Residential Data Mailer Sample
- Revaluation Project Op-Ed Column
- Commercial Revaluation Presentation Slides from 11-1-19
- Residential Revaluation Presentation Slides from 11-25-19
- Why do we need a Revaluation?
- Technology used in the Revaluation Process
- Valuation: Analyzing and Assigning Values
- Receiving your new value notice: Accept or Appeal?
- Commercial Revaluation Forum Presentation from 11-1-2019
- Residential Revaluation Forum Presentation from 11-25-2019
Videos in Spanish
PAST meetings and events
11/1/19 - Commercial Property Owners Forum on Revaluation - 11:30am Rines Auditorium at Portland Public Library Links to slides and video from this presentation are below
11/25/19 - Residential Property Owners Forum on Revaluation - 5:30pm Rines Auditorium at Portland Public Library
Links to slides and video from this presentation are below
Upcoming outreach, community and neighborhood meetings will be posted here