TOWN OF KENNEBUNKPORT, MAINE

PRESS RELEASE

FOR IMMEDIATE RELEASE: July 2, 2008
Information contact: Larry Mead, Town Manager
Revaluation Information Update July 10

Representatives from Vision Appraisal will provide an update on the status of the revaluation of properties in Kennebunkport at the July 10 Board of Selectmen’s meeting. The meeting will take place at the Village Fire Station at 7:00 PM. The public is invited to attend the meeting and to take the opportunity to ask questions regarding revaluation. The meeting will also be televised on cable Channels 2 and 16.

Last November voters in Kennebunkport authorized the Town to carry out a full revaluation after the local valuation had dropped to just 40% of full value as measured by the State of Maine. The last revaluation was done in 1998. It is anticipated that the assessed value of most properties values increase significantly and that the Town’s tax rate will be significantly reduced as a result.

The revaluation process began just after Memorial Day when field inspectors began to visit properties in town to collect data and carry out a visual evaluation of each property. They will continue the inspection process throughout the summer and into the fall. The revaluation process will require more than a year to complete. A notice of new value will be mailed to property owners in June, 2009 and final values will be established in August, 2009.  

                        #       #         #     #       #        #