Frequently Asked Questions

The phone number on the postcard, 207-992-4213, goes directly to the Assessor's prerecorded message which provides additional information regarding the revaluation. The message lasts around three minutes, hits on the revaluation's purposed and why the property owner received the postcard in the mail. The caller is able to leave a message if they need additional information from the Assessing Office. 

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The timeline is for information purposes only.

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Phase 1: Data Collection

The first phase, Data Collection of all property, will begin in November 2024. During this phase "Data Collectors" go to each property in the City to measure the exterior of each building and attempt to inspect the interior if the owner is available at the time of the visit. These Data Collectors note the buildings’ location, size, age, quality of construction, improvements, topography, utilities, and numerous other characteristics both inside and out. They may also ask the homeowner a few questions regarding the property. To confirm that a home was inspected, the homeowner is asked to sign a data collection form. The data collected is subject to verification by the City Assessor and a KRT Supervisor. KRT Field Representatives will carry Picture IDs, Municipal Letters of Introduction, and have their vehicles listed with both the Assessor’s Office and Police Department.

Prior to starting the data collection, a postcard will be mailed to each property as notification that the property will be visited in the next few weeks. Data Collectors will show up unannounced shortly after the postcard is mailed and ring the bell or knock on the door. If someone is home, they will explain who they are, with their KRT badge visible, and ask for an interior and exterior inspection.

If no one is home, they will assume it is ok to measure the outside of the building and proceed to do so. A second attempt to inspect the property shall be made either after 5:00 p.m. on weekdays or on Saturday. If a second attempt to inspect the property is unsuccessful, KRT shall either leave a door-hanger at the property or send a letter to the property owner requesting the property owner call KRT to set up an appointment for an interior inspection. The visit from KRT shouldn’t take more than 15 minutes from start to finish. Data Collectors will not visit a property posted “No Trespassing”. Posted properties will receive a letter asking for permission to visit the property at a scheduled time convenient for everyone.

Phase 2: Sales Review / Validation

During this phase, KRT appraisers will 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 length”. Only sales with market exposure between a willing buyer and willing seller (in other words, an “arm’s length” sale) will be used in the analysis

Phase 3: Market Analysis / Valuation

A variety of resources are used to analyze the real estate market. KRT will be analyzing property sales that occurred between April 1, 2024, and March 31, 2026, to determine which market factors influenced property values. KRT will gather and use information from Maine Multiple Listing Service (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.

Valuation is done using one of the three recognized appraisal methods: Cost Approach, Income Approach and Sales Comparable Approach.

During this phase, individual characteristics of the buildings 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.

The valuations produced for each appraisal model are then tested for accuracy using actual market sales. After testing, the result of the mass appraisal model for the City of Bangor is then measured against statistical standards of the International Association of Assessing Officers (IAAO). If a model fails the required standards, further review and refinements are necessary before acceptance.

Phase 4: Field Review

Field Review is the method 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 from the sale properties is consistently applied to the entire population of properties within the City.

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 middle of July 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.

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.

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Prior to starting the data collection, a postcard will be mailed to each property as notification that the property will be visited in the next few weeks. Data Collectors will show up unannounced shortly after the postcard is mailed and ring the bell or knock on the door. If someone is home, they will explain who they are, with their KRT badge visible, and ask for an interior and exterior inspection.

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If no one is home, they will assume it is ok to measure the outside of the building and proceed to do so. A second attempt to inspect the property shall be made either after 5:00 p.m. on weekdays or on Saturday. If a second attempt to inspect the property is unsuccessful, KRT shall either leave a door-hanger at the property or send a letter to the property owner requesting the property owner call KRT to set up an appointment for an interior inspection.

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In a revaluation year, advanced notifications of preliminary property valuations will be provided to ALL property owners as part of Phase 5 of the revaluation project, the Assessing office will communicate expectations for the timeframe of these notifications.

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There can be several reasons, such as:

• The property was undervalued before
• Your location has improved in value
• We had been using mistaken information about the property
• Changes in the real estate market

It is possible that the information we had on their property was already more accurate, or that they did not maintain their property as well, or we discovered missing information about your property. It is also possible that there is inaccurate information on your property’s assessment record. This is one reason we send out a notice of proposed valuation for your review in advance of tax commitment. Thousands and thousands of pieces of information have been entered into our system over the years, so it is possible for errors to occur. Please let us know of any data corrections that need to be made. Some changes may cause value increases and some may cause value decreases. Assessment data will be available online.

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It is likely that most property values will change, however, they will not all change at the same rate. Market value may have increased more for some neighborhoods and property types than for others. The values of some neighborhoods and property types may have even stayed the same or decreased in the current market. The purpose of the revaluation is to make sure that the assessments reflect those changes in market value.

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Not necessarily. Individual properties within the same neighborhood differ in characteristics and different neighborhoods command different values. In one area, the sales may indicate a substantial increase in value, while another neighborhood may see a lesser change in property values. Different types of properties within the same neighborhood may show different value changes. For example, older homes may be rising in value more slowly than newer homes in the same neighborhood, or one-story homes may be in more demand than two story homes, or vice versa. There are numerous factors that will cause values to differ between properties including, but not limited to, location, condition, size, age, quality, and building style.

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There are a number of reasons beyond general market changes as to why individual properties or groups of related properties could experience a change in their assessed value in any given year, whether or not there is a city-wide revaluation. Some common examples include:

• New Value Created
  Construction of new buildings; renovations or additions to pre-existing buildings; subdivisions of larger parcels into smaller lots.
• Property Changes
  Change in a property's permitted use; physical damage to a building.
• New Information
  Survey displaying different acreage than lot size on record or an area designated as wetlands; review of deeds outlining an encumbrance like an easement; discovery of errors or inconsistencies requiring correction.

Market Value is defined as the amount a typical, well-informed buyer would be willing to pay a willing seller for a property. For a sale to be considered a qualified sale used to determine market value, it must be an arm's length transaction - the buyer and seller must not be related, the buyer must not be under pressure to buy and the seller must not be under pressure to sell, the property must be on the market for a reasonable length of time, the payment must be in cash or equivalent, and the financing must be typical for that type of property.

"Just Value" defined: "In the assessment of property, assessors in determining just value are to define this term in a manner which recognizes only that value arising from presently possible land use alternatives to which the particular parcel of land being valued may be put. Assessors must consider the effect upon value of any enforceable restrictions to which the use of the land may be subjected. Restrictions shall include but are not limited to zoning restrictions limiting the use of the land, subdivision restrictions, and any recorded contractual provisions limiting the use of lands. The just value of land is deemed to arise from and is attributable to legally permissible use or uses only." "For the purposes of establishing the valuation of improved real property, the property must be valued based on its highest and best use as of April 1st of each year, taking all of the following 3 approaches to value into consideration: cost, income, and sales comparison. In establishing the valuation of improved real property, assessors shall consider age, condition, use, type of construction, location, design, physical features, and economic characteristics." (36 MRSA 701-A)

People (including you); the person who sold your house to you; and the person who is willing to buy it from you determine the market value of your property. Some people will pay more than fair market value for property, while others may have purchased their property at a lower price, or some property may have been purchased years ago when prices and values and the market were considerably different. The true test is what your property is worth now in today’s real estate market. Ask yourself this question, is your property’s assessment in line with recent sales prices of similar properties?

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