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Friday May 30, 2025

ONE BIG THING: Understanding Your Property Revaluation Notice

Many of you have received your new property assessment from the City and are understandably concerned. I’ve heard from constituents whose property values have gone up significantly, and they’re worried that this means their taxes will skyrocket.

Let me explain what’s actually happening.

When the city revalues all properties, it resets the estimated market value of every parcel of land in Portland. This year’s revaluation increased property values across the city to reflect current market conditions, but the overall amount of money the City needs to raise through property taxes doesn’t change because of revaluation. Instead, the mill rate (the tax per $1,000 of value) is adjusted downward, and what changes is how that burden is divided among property owners.

Here’s an example:

  • Before revaluation: Your home was valued at $350,000 and the mill rate was $20 per $1,000.
    → Your tax bill was $7,000.
  • After revaluation: Your home is now valued at $500,000—but the new citywide mill rate drops to $14.
    → Your tax bill is still $7,000.

This means that even though your assessed value went up, your tax bill might stay the same—or even go down—depending on how your home’s increase compares to the citywide average.

If your property went up less than the citywide average, your taxes could go down. If it went up more than average, they could go up—but not necessarily by the same percentage. We won’t know final tax bills until the new mill rate is set in August, after the City Council passes the FY26 budget.

I want to be clear that I’m committed to tax fairness and balancing the city budget—but not on the backs of working families, seniors, and people living paycheck to paycheck.

That’s why I’m working to:

  • Expand Portland’s Senior Tax Equity Program (P-STEP) to more residents, regardless of age.
  • Launch a PILOT program asking large nonprofits to contribute their fair share.
  • Strengthen financial oversight of city spending to ensure transparency and accountability.

I’ll be advocating for these ideas in the Finance Committee. In the meantime, if you have questions about your revaluation notice, you can contact Tyler Technologies at 1-844-651-3398 or visit tylertech.com/portland.

ksykes@portlandmaine.gov 207-558-5764

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