City of Bangor, ME

28/08/2024 | News release | Distributed by Public on 28/08/2024 18:41

Start of citywide revaluation delayed; now scheduled to launch in October

For immediate release: Aug. 28, 2024

Contact: City Assessor Philip Drew
Telephone: 207-992-4211
Email: [email protected]

BANGOR, Maine - A delay in processing property data has led the City of Bangor to reschedule the start of a citywide revaluation to October.

The revaluation was scheduled to begin in June or July, but there was a delay by a third party in transferring City property data onto new software. That data, which includes information like property owner names, mailing addresses and property characteristics, is needed by KRT Appraisal so that it can conduct the revaluation on behalf of the City.

City Assessor Phil Drew met with the third party recently and was assured that the data will be converted to the new software by Sept. 20, allowing data collectors for KRT to begin the revaluation in October. The delay is not expected to push back the completion date for the revaluation, which is July 2026.

The revaluation will appraise more than 11,000 real estate parcels in Bangor in an effort to establish more equitable property values for all classes of property: residential, commercial, land and other types.

The project is necessary because the last citywide revaluation was conducted in 1987. In addition to establishing more equitable valuations across all properties, a revaluation ensures that accurate property data is collected. The public's participation in this project will help ensure that data is accurate. A primary goal of the project will be to correct disproportionate taxation by valuing all property at fair market value as of April 1, 2026.

Maine State law requires that municipalities perform a revaluation whenever the ratio of assessment to sales price drops below 70 percent. The City right now is narrowly meeting Maine's minimum assessing standards, in part because it's relying on property data that in some cases date back to the 1980s.

Data collectors for KRT will identify themselves to property owners and carry appropriate identification. Their vehicles will be marked with an "Assessor's Office" magnet. Notices will be sent to residents a couple of weeks in advance that provide an approximate date for when KRT will be in their neighborhood. KRT's website, www.krtappraisal.com, also will have a timeline for residents.

KRT will knock on all doors where it's conducting an inspection, and any property without an inspection will receive a letter requesting a call for an appointment. Representatives with KRT will only enter a home or property if an adult is present.

In addition to property owners, tenants also should be aware that data collectors will be knocking on their doors for an inspection, which generally doesn't take long.

For answers to questions that are often asked about revaluations, please follow this linkto the webpage for the City Assessing Department.

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The City of Bangor, Maine, is a service center community of 31,753 residents and is the county seat of Penobscot County. Bangor is the major commercial and cultural center for much of northern and eastern Maine. The City is an equal opportunity employer and service provider. For information on City projects and news, see www.bangormaine.gov.