Frequently Asked Questions
What Are The Assessor's Duties and Responsibilities?
The assessor
establishes a value for each taxable property, administers tax
exemptions and current use programs, and completes the tax commitments.
What Is Market Value?
Market value is the most probable price
expressed in terms of money that a property would bring if exposed for
sale in the open market in an arm's length transaction between a willing
seller and a willing buyer, both of whom are knowledgeable concerning
all potential uses for the property. A purchase price is not necessarily
market value. Many property sales have special circumstances
where the sale price does not represent the true market value such as a
sale between family members or a forced sale.
What Is The Difference Between Assessed Value
and Market Value?
Assessed values are created using mass appraisal technique. At a given point in time, a pricing system is developed using recent sales data. This system is used to price all property in the community. At the time of implementation the assessed value should be within 10% of proven market value. This is considered to be "accurate within the limits of practicality". Over time, changes in the real estate market occur. As a result of these changes, the relationships between the assessed values and market values become inconsistent. Eventually, these inconsistencies prompt a revision or complete replacement of the mass appraisal pricing system. The new valuations should again be closely aligned with market value.
What Causes My Property Value To Change?
Fluctuation in the real estate market affects your property's market value. You do not have to make physical changes to your property to change its value.
What Causes My Assessment to Change?
There are several reasons why your property's assessed value could change:
 | A revaluation that would reflect current market conditions. |
| Improvements made to the property. |
| Any change in data discovered through inspection. |
Why Does The Assessor Need To Inspect My Property?
In order to
accurately determine the market value of your property, we must base the
assessment on correct information. Interior and exterior inspections
provide the most accurate data.
If The Assessor Asks To View The Interior Of My Home, Must I Let The
Assessor In?
No, you are not obligated to let the assessor
in. However, the assessor must establish a value for your property and
will estimate what he/she cannot observe or measure. If you deny the
assessor permission to review your property you may lose your right to appeal the
estimated assessment.
How Do I Appeal My Assessment If I Disagree With The Assessor?
According to Maine tax law, your property's assessment is considered
reasonable if it falls within 10% of its most probable selling
price. The burden to prove the assessment is unreasonable rests with the
taxpayer. The first step is an informal review. Your opinion must be
supported with facts, so visit the Assessor's office and review the
facts on your property record card, the other assessments in your
neighborhood and the properties that have recently sold.
If in your review you conclude that your assessment is unreasonable, you
can apply for an abatement. This is a formal appeal of your
assessment. You must file within 185 days of the tax commitment.
In your application you must provide a credible alternative value and
show how you arrived at this value. The Assessor has 60 days to
respond to your application. If you do not receive a response in
60 days, you are deemed to be denied. If you are denied, you then
have 60 days to appeal the decision to the Board of Assessment Review.
How Is The Tax Rate Calculated?
Revenue
required by the Budget divided by Town Value equals
Tax Rate.
$8,988,868 divided by $966,544,943 = $.0093 Tax Rate
Tax Rate X Assessed Value = Tax Bill
$.0093 Tax Rate X Individual property assessment ($100,000, for
example)
= $930 Annual Tax Bill
Assessment
Year: April 1 (set by Maine
tax law)
The ownership and condition of all property is fixed as of April 1st
each year. The owner of record on April 1st is responsible for the
annual tax bill. The current assessment information available from this
office reflects the owners and assessments as of April 1. Any
ownership changes or improvements to the property made after April 1, will not change the tax bill until September of
the following year. The second
payment due on April 30, is the second half of the year's current
obligation.
Fiscal Year: July 1 to June 30
The budget, approved by the Board of Selectmen in May of each year, covers
this period. Tax bills mailed in October are for
the fiscal year beginning in July.
Commitment Date: Mid September (set by Assessor)
When the Assessor "commits" the town's assessment rolls to the Tax
Collector. The commitment date varies each year. In Raymond, this date
is usually the second or third week of September.
| Real Estate | 1st half
payment October 31 2nd half payment April 30 |
Why Is The Tax Bill Still in My Name If I Sold My Property?
According to Maine tax law, the Assessor is
required to commit property taxes to the owner of record as of April 1st. This means
both payments. If you sold your property on June 1st, the tax bill
issued in October and the second payment due the
following April, must remain in your name.
For example:
| April 1 you owned the property |
| June 1 you sold the property |
| October the annual tax bill is issued |
| October 31 the first half payment is due |
| April 30 the second half payment is due |
Your Name Will Appear On All The Bills Until The New Bill Is
Issued In September of the following year.
If requested by the buyer or seller, the tax bill may be sent in care of
the buyer. The seller's name will continue to appear first on the
bill.
IMPORTANT: Please discuss the property tax bill at the
closing - determine who is responsible for payment and who you will forward the
bill to when you receive it. The Assessor is not responsible for the
pro-ration of taxes between buyer and seller.
