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City assessor says neighborhood market adjustments will be trimmed as 2026 revaluation proceeds
Summary
Assessor Phil Drew updated the Bangor City Council on changes to residential and small multifamily market adjustments, saying neighborhood increases will be reduced and the city’s certified ratio sits near the state mid‑quartile target of 91 percent; personal property numbers remain incomplete.
Phil Drew, the city assessor, told the Bangor City Council at its May 7 budget workshop that the office will reduce previously planned market adjustments for many neighborhoods as the city prepares for its 2026 reevaluation.
“The real takeaway is the market based adjustments that we made on the residential and small multifamily properties can be down adjusted,” Drew said, describing sales and days‑on‑market data the office used to revise its recommendations.
The assessor said median sale prices rose in mid‑2024 but by March 2025 had fallen back to July 2024 levels, and days on market increased from as low as five days to roughly 44 days. Drew said Zillow’s one‑year forecast showed flat to slightly up price expectations for the region, and that the reevaluation work…
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