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Mount Desert assessor: average valuations up about 8%; town ratio rises to about 85%
Summary
The assessor reported land-value increases that raise average valuations about 8% overall and said the town's assessment ratio has risen to roughly 85%, which will affect exemption calculations; notices of new values will be mailed in early May with hearings before tax bills in July.
The town assessor reported an interim valuation update designed to adjust land values and bring assessment ratios closer to market levels. The assessor said the average increase across assessed properties is about 8% and that the town's average ratio has moved up to about 85% from 79%.
The assessor explained that because many village buildings share similar base characteristics it is difficult to isolate building-value changes by village, so the current work focused on land-value adjustments. He said notices of new values will be mailed in early May and that property owners will have an opportunity to meet with the assessor; hearings will conclude before tax bills are computed and sent in July.
The assessor described the implications for statutory exemptions: if the town commits taxes at an 85% ratio, homestead and other exemptions would be proportionally reduced compared with a 90%+ ratio. The assessor said no individual property values were reported as decreased and that market sales remain above assessed values in most cases.
