Editor:
    Question 2 on the Nov. 6 ballot in Kennebunkport will ask voters to approve revaluation.
    This question should be approved because it will establish fairness and equity among all property owners.
    Recent sales data show that the overall average of total assessed property value in Kennebunkport is about 40 percent of their average market value. The range of assessed value to market value varies from as low as 15 percent to as high as 65 percent.
    This means that if the assessed value of your property is below 40 percent of market value, you are paying less than your fair share of taxes. If the assessed value of your property is above 40 percent of market value, you are paying more than your fair share.
    Data also suggest that about 45 percent of property owners are paying considerably more than they should while about 25 percent are paying considerably less than they should.
    For example, waterfront properties appraised at 25 to 30 percent of their market value would see their taxes increase by as much as $1,500 to $2,000 while inland properties assessed at 50 to 55 percent of market value would see their taxes reduced by about $800 to $1,200.
    Overall, the tax money raised by the town would not change as the result of revaluation. Revaluation merely redistributes the tax load equitably on property owners consistent with state law. It does not change the town’s total tax bill.
    The recent presentation by Vision Appraisal Technology clarified a number of concerns voiced by some residents.
     Comparable values for assessing market value of properties will be based on the most recent sales data collected between Jan. 1, 2008 and April 1, 2009, not data recorded during the peak of the housing boom in 2005-2006.
    Properties will be assessed based upon the best and highest use, as required by law, but will be discounted to take into consideration current use if it is clear that the current use is reasonably likely to continue.
    If some unforeseen major negative correction occurs in the housing market in 2008 or 2009, the board of selectmen has the authority to make a reduction in the overall assessment value. In other words, the target market value can be reduced to something less than 100 percent, if appropriate.
     It’s been 10 years since our last revaluation. The longer we wait, the worse the situation becomes. It’s time to act now. Vote yes on Question 2.

 David James
 Kennebunkport