On Tuesday, May 27, property owners in Portland received updated property values. The values were released online after the city of Portland worked with Tyler Technologies to conduct a revaluation.
The most recent revaluation took place in 2021. Tyler Technologies said “some property owners may be paying more than their share of property tax, and others may be paying less. The reassessment is being conducted to address these inequities and ensure that each property owner pays only their fair share of the tax burden.”
State law allows Maine assessors to be between 70% and 110% of fair market value. On May 23, the city of Portland Assessor’s Office said “the Revaluation Project aligns assessed property values with 100% of fair market value as of April 1, 2025.” Tyler Technologies projected that, without revaluation, the accuracy rate would be 82%.
“Regular revaluations help prevent inequitable tax burdens,” said the Assessor’s Office. As these new property values are released, owners can take solace in potentially lower taxes. The Assessor’s Office said, “the tax rate will likely be adjusted downward due to the overall increase in taxable value.”
These changes will not generate additional tax revenue for the city of Portland; instead, they will redistribute the tax burden. The city of Portland says new values can be viewed on the city’s website and appeals can be made through Tyler Technologies.
