FY25 tax bills are now available on the Citizen Self Service platform and will be mailed by the end of August. Would you like to know more about recent property valuation adjustments and tax equalization? Watch the Tax Assessor's presentation at the August 13, 2024 City Council meeting. Visit our Tax Bill FAQ to view the Assessor's presentation and get answers to frequently asked questions.
In summary: Many South Portland taxpayers will see an increase in their assessed property value on this year’s tax bill. As most are aware, market prices in South Portland and all across Maine, especially for single-family properties, have risen sharply over the past five years. The State requires that the City report assessed values that are in line with market prices. South Portland is not alone; in consulting with other Assessors across the State, assessed valuations in many municipalities—particularly for single-family properties—are rising significantly this year, from 12% on the low end to up to 60% on the high end.
Although the tax rate will decrease nearly 7%, increases in assessed property value will result in a higher, and in some cases significantly higher, tax bill for some. Others will see a similar reduction in their bills because their values did not appreciate as much. Importantly, the City collects no extra tax revenue when property values are adjusted. For every dollar a residential or commercial property owner pays more in taxes, someone else pays a dollar less. We are sympathetic to those who will see an increase, and hope those who qualify take advantage of tax relief programs offered by the City and State. South Portland City Council will vote at their next meeting to add $100,000 in funding to our senior citizen property tax relief program, for example.
We encourage taxpayers to visit www.southportland.gov/taxbillfaq for answers to frequently asked tax bill questions. Our Finance and Assessing Departments are also happy to assist. Assessing asks that anyone who believes their assessed property is too high contact their office so they can review the property file and make adjustments, if found to be necessary.