Revaluation Information

The City of Augusta, Maine has hired KRT Appraisal (KRT) to conduct a Revaluation of all properties in the City. There are five major phases to the Revaluation: Sales Review and Validation, Market Analysis, Valuation, Field Review, and Informal Hearings. During these phases many tasks will be completed to ensure the project is successful. Below is a general outline and explanation of each phase of the project.

KRT Revaluation FAQ Document

PHASE 1: SALES REVIEW/VALIDATION

During this phase, KRT appraisers field review each property that sold between April 1, 2024, and March 31, 2026, and review the information on the property record card for data accuracy. The appraiser will make notes regarding the property location, size, condition, quality of construction, and numerous other characteristics that may affect value. The goal is to gain a clear understanding of what sold and for what price. In conjunction with the Assessing Office, KRT will begin the process of qualifying sales as “Arm’s Lenth.” Only qualified sales with market exposure between a willing buyer and seller will be used in the analysis.

KRT Field Representatives will carry Picture IDs, Municipal Letters of Introduction, and have their vehicles listed with both the Assessor Office and Police Department.

PHASE 2: MARKET ANALYSIS

A variety of resources are used to analyze the real estate market. KRT will be analyzing property sales that took place over the last two years to determine which market factors influenced property values. KRT Appraisal will gather and use information from MLS, property managers, developers, and local real estate professionals. Once all the data is collected and reviewed for accuracy, the appraiser will determine land values and delineate neighborhoods, which rate the desirability of locations throughout the city as determined by actual market activity.

PHASE 3: VALUATION

Valuation is done using one of the three recognized appraisal methods: Cost Approach, Income Approach and Sales Comparable Approach. Mass appraisal uses a market adjusted cost approach to generate assessments. During this phase, individual characteristics of the building are analyzed using information gathered in both phases 1 and 2. Each property is compared to other comparable properties with similar characteristics. Then the market values of the improvements are added to the land value that was previously determined. This value is the final estimate for each parcel of property, building and land.

PHASE 4: FIELD REVIEW

Field Review is the process of checking and re-checking both the values that have been determined and the accuracy of the data used. During this phase, properties are viewed in the field by experienced appraisers to ensure that the appraisal methodology established through the sale of properties is consistently applied to the entire population of properties within the City of Augusta.

As part of this process, field reviews will consist of taking a photograph of all improved parcels from the street or driveway. Field reviewers will not be knocking on doors or requesting access to the interior of any home or business.

PHASE 5: INFORMAL HEARINGS

Once the Field Review is completed and the values are approved by the Assessor’s Office, a notice stating the proposed value will be mailed to each property owner. The goal is for this phase to be completed in the early summer of 2026. At that time anyone with questions concerning the revaluation process or the value established for their property will have an opportunity to meet with a member of KRT's staff either in person or over the phone.

After all five phases are completed, all data, files, records, etc. used in the revaluation will be turned over to the Assessor's Office for retention.

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 assessed at a reasonable estimate of its market value.

Revaluations: Understanding the Process

Provided by Maine Revenue Services: Property Tax Division

A Revaluation is a process that creates a solid base of inventory for tax purposes. The Maine Constitution states that all taxes upon real and personal estate, assessed by authority of this State, shall be apportioned and assessed equally according to the just value thereof.

In order to apportion the tax burden equally, the assessor(s) must establish assessed valuations in accordance with just value. Just value is synonymous with market value.

Each year, a city or town votes to raise a certain amount of money in order to provide and pay for local services, such as education, administration, plowing, etc. Some of the city or town’s revenue comes from the State, such as Revenue Sharing, reimbursement for tree growth tax loss, and education subsidy. Other revenue may come from local service fees or excise tax.

There are several methods for performing a revaluation. A city or town may opt to make in-house adjustments at little or no administrative cost. There are also professional firms certified to do the job. A thorough revaluation by a professional firm would require a town vote in order to appropriate the money to pay for the process. 

A city or town votes to pay for a revaluation because it recognizes the need to equalize the valuations so that no one taxpayer pays more or less than their fair share of the tax burden. The need to have a revaluation may be due to the lack of an inventory of parcels and building components or due to a change in market value.

During a revaluation. Ordinarily, if a professional firm is hired, they will have a crew that will visit every property within the city or town and record data such as land acreage and building components including age, dimensions, and quality of construction. Land data will also be collected based on the acreage, topography, improvements, restrictions, and covenants. The firm will review local sales that are considered “arms-length” transactions and start creating pricing schedules for land and buildings. As a result, all properties will have an assessed value for tax purposes typically based on the current cost of construction and local market sales. The information collected and the ownership of the property will reflect the status on April 1st.

In most revaluations, the taxpayer will have the opportunity to review their new assessment and ask the professional firm specific questions. The municipality may hold informational meetings as the revaluation progresses. 

The municipal assessor(s) are the legal officials who validate the valuations for tax purposes.

After the revaluation. Once the taxable values are established a tax rate (mil rate) will be set. This is done by dividing the city or town’s net appropriations (as voted) by the city or town’s taxable value. Each year, the municipal assessor(s) should review the assessment records, make updates for new construction and land splits and monitor sales activity. Some towns may hire a part time agent or a full time assessor to maintain the records. This will depend on the needs of the city or town and how much money the voters want to spend.

In 1975, Maine’s Property Tax Law added language that required a city or town to maintain valuations equitably to at least 70%. This allowed a taxpayer to understand their own valuation and relate it to other property values within the town. 

Appeal. A taxpayer has the right to legally appeal their tax assessment if they feel that it is unfair or unjust. The first advice, however, is to visit the local assessor(s) and discuss your concerns.