The Assessor’s office is conducting a town-wide property revaluation in Spring 2024. A Revaluation is the process of updating all property values in town to reflect their current market value. Revaluations for the Town of Scarborough are planned to occur once every 5th year.
The Town of Scarborough is committed to keeping residents informed throughout the town-wide 2024 Revaluation process. Use the following pages as resources to learn more about revaluations, the timeline for the 2024 Scarborough town-wide revaluation, what it means for you, and more. Information about the town-wide 2024 Revaluation process will continue to be updated and added.
A Revaluation, or Market Update, is the process of updating all property values in town to reflect their current market value (i.e., to maintain reasonable estimates of what each property could sell for on the open market), as required by law.
Market adjustments are always a challenge. The goal is to appraise thousands of properties, all at one time, to create uniform, equitable and fair assessments. 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 as of April 1, 2024.
Please be assured that the Assessor’s office will afford all property owners a chance for an informal meeting where you can appeal your new assessed value and ask questions about the assessment process.
The last revaluation was performed by independent contractor, KRT Appraisal in 2019. Post-revaluation public workshops conducted by Town Leadership and Assessing regarding how the revaluation process could be improved upon produced two meaningful outcomes:
- to conduct regularly scheduled revaluations, occurring every few years, to ensure that the property
tax burden is spread equitably across all taxpayers; and
- to use in-house Assessing staff, rather than an independent contractor, since Assessing has a “Scarborough-specific” base of knowledge of Town properties and real estate market. In addition to being able to provide
a higher level of customer service throughout the process, using Assessing staff will reduce the cost (estimated
to be $44,000, as compared to $391,000 for the 2018/2019 revaluation performed by KRT Appraisal).
- Last Town-Wide Revaluation: April 1, 2019
- Next Town-Wide Revaluation: April 1, 2024
- 5 Year Cycle: Future revaluations are planned to occur once every 5th year, unless special circumstances necessitate otherwise. Market update revaluations will be based upon an analysis of all available information, including sales data from the preceding two years. This routine cycle will help to maintain a fairly apportioned property tax burden and provide predictability for taxpayers.
|April 2023 - Ongoing:
|Public Communication detailing the revaluation process.
|May 2023 - August 2023:
|Assessor conducts property/data reviews for improved
accuracy and consistency.
|FY2024 Tax Commitment (reflecting 4/1/23 Assessments, NOT Revaluation year).
|September 2023 - October 2023:
|Implement adjustments/corrections to internal Assessing
database, as needed/determined by reviews.
|November 2023 - April 2024:
|Assessor to analyze all sales, commercial income and
expense data, and update database cost tables.
|May 2024 - June 2024:
|Preliminary new valuation notices mailed to property owners.
|June 2024 - Aug 2024:
|Owners may appeal the appraised valuation of their property through informal hearings.
|FY2025 Tax Rate set based on final town-wide taxable valuation
and Town Council-approved FY2025 budget.
|Tax bills mailed reflecting new assessment and new tax rate.
|Formal appeals deadline.
Budget Book Exhibits:
Budget information is compiled into a single document for each fiscal year. The document provides a high-level summary by the Town Manager of the Town’s financial position and vision for the coming year. It also includes an itemized account of the budget by department, and the strategic goals and objectives to provide services to Scarborough residents. The following Budget Books with exhibits pertaining to the upcoming revaluation are available for review and download:
- The town-wide revaluation project was originally planned for 4/1/23, but was deferred to 4/1/2024 by recommendation of the Town’s Assessor, as highlighted in last year’s FY23 Budget Book (Exhibit #3)
- The 2024 Revaluation was approved by Town Council on recommendation by the Assessor as outlined by a graphic timeline and description of related costs in this year’s FY24 Budget Book (Exhibit #7)
On December 2, 2020 the Town Assessor presented a public workshop to the Town Council explaining the plan for future market update revaluations. Please note, since this 2020 presentation the timing of the next town-wide revaluation has been postponed from 2023 until 2024; the presentation slides and a recorded video of the workshop are available at the following links:
- “In-House Revaluations: Plan for Future Market Updates” Presentation Slides [PDF View/Download]
Note: As mentioned above, the 3-Year Cycle referenced in the presentation has been changed to a 5-Year Cycle
- Town Council Workshop Video | December 2, 2020
- Revaluation 2024 Update - Finance Committee Meeting - February 8, 2024
Link to YouTube video of the event (starts at approx. the 0:16:53 minute mark)
- Revaluation 2024 Workshop portion of Town Council Meeting - January 17, 2024
Link to YouTube video of the event (starts at approx. the 0:02:55 minute mark)
- Revaluation 2024 Presentation Meeting Video - September 20, 2023
Link to YouTube video of the event (starts at approx. the 1:25:00 minute mark)
- Revaluation Informational Video
2024 Property Revaluation with Town of Scarborough Assessor - April 2023