The following provides answers to some frequently asked questions about property valuation and taxation in Maine. If you do not see your question here, please contact our office for assistance.
How Does the assessor determine my property's value?
- The assessor uses three methods in determining the fair market value of a property
- The sales comparison method bases a valuation on sale prices of similar types of properties in your neighborhood.
- The cost method bases a valuation on what it would cost to replace your property minus any depreciation
- The income method bases a valuation on what the potential future income would be for that property.
Who do I contact to pay my property taxes?
- Please contact your local town tax collector for the payment of property taxes.
I sold my property earlier this year, why am I still receiving a bill?
- The State of Maine requires the assessor to list the property owner as of April 1st of that fiscal year as the owner of record. If you sold your property after April 1st and receive a property tax bill, please forward it to the new owner. We will make the changes to our records for tax billing as soon as we are legally able to. It is important to note that any pro ration of an annual tax bill between the buyer and seller is a private matter and should be settled at closing.
Why did my taxes go up?
- Annual property tax bills can increase for a variety of reasons. For example:
- An increase in the tax rate due to an increase in the town budget.
- Any home improvement or renovation could potentially increase the assessed value of your property.
- A data correction to accurately reflect the description of the property could increase the assessed value.
- A revaluation of properties in town to bring them to current market value could increase the assessed value.
Why does the assessor need to visit my property?
- The assessor will occasionally visit properties to validate the description of that parcel and any improvements to it. Typically this is done in conjunction with a building permit. The assessor does not have legal permission to enter your home without your approval. We do encourage the property owner to let the assessor in so that the assessed value will accurately reflect what is there. If the assessor is refused access to a property, the owner forfeits any right to a successful appeal of their assessment.
How is my annual property tax bill calculated?
- Here is an example for a property assessed at $300,000 with a homestead exemption
|Total property assessed value||$300,000|
|Subtract any exemptions||$20,000|
|Equals total taxable assessed value||$280,000|
|Multiply by the tax rate (16.08 per thousand for example)||0.01608|
|Equals annual property tax bill amount||$4,502.40|
I do not agree with the assessment of my property. What options do I have to change this?
- Please see our "Abatement's and Appeals" page for more information on this subject.