I just received my real estate tax bill & would like to challenge the taxable valuation which I believe has declined due to the current poor real

Asked by Curious In Kennebunk, 04090 Tue Sep 22, 2009

estate market. If I pay for an appraisal it would eat up any tax savings I may gain from a potential abatement. Since there's no sale in it for him/her, I hesitate to ask a r.e. agent for a comparative mkt. analysis. How should I proceed & what info do I need to support my request for an abatement?

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Murphy Team, Agent, Portland, ME
Tue Jan 28, 2014
Town assessor will usually listen to reason and reduce your value a bit if you have compelling evidence. Of course, the flip side is that the town does not raise your taxes when your property appreciates. They will wait for a general assessment of the entire area.
0 votes
Richard Yost, Agent, Auburn, ME
Thu Oct 17, 2013
Most towns havee an abatement process. Check with town officials to find out what that is.
0 votes
Ken Lambert, , Exeter, NH
Wed Sep 23, 2009
Hello Curious- Most RE agents will do something called a Broker Price Opinion for a set fee of $75 or so. That might be worth it to you, if you can save $500 or so off property taxes. That is a good 3rd party valuation. If you would like some help with that, please let me know. Thanks,

Ken L.
0 votes
Michael Pasc…, , Portland, ME
Wed Sep 23, 2009
Curious,

If your value is really out of wack compared to the rest of the town, the Assessor will adjust the value. You just need to come in with comparable sales etc. However, if your just off 10% or so because of the decline in the overall RE market, they won't adjust your valuation. This is because they would have to reduce everyone's valuation... And then they'd just crank up the mill rate and you'd end up paying they same tax anyway. The town needs to collect a certain amount of $s.

Michael
0 votes
Steven M Dyer, , 04841
Wed Sep 23, 2009
Hi Kennebunk!

You can go to your Town Office and ask the Tax Assessor for a Tax Abatement form. You should seek the assistance of a qualified Realtor in your area to provide you with Comparable Sales in your town that you can submit with your Abatement Request. If you need a referral to a Realtor in Kennebunk, let me know. I would be more than happy to help you! Give me a call at (207) 975-9330!

Blessings!! Steve Dyer
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