After 15 years, Portland homeowners will have their properties revaluated and be informed of their new property values this week.

According to the Portland Press Herald, assessor Christopher Huff said that the median home price has shifted to an estimated $365,000, over the previous median of $240,000. Huff also noted that about one-third of property owners will have raised taxes, one-third will pay less, and the remaining third will not experience a difference.

It is estimated that 22,000 property notices will be sent via mail, expecting to arrive later this week and into next. The letter will also contain appeal information if residents believe their home was over or undervalued. They will be able to informally appeal starting July 6th through July 21st, and the formal appeals process will be available until March 2022.