What is a property revaluation?

According to the State of Maine, a revaluation is a process which creates a solid base of inventory for tax purposes.  The Maine Constitution states that "all taxes upon real and personal estate,  assessed by authority of this State, shall be apportioned and assessed equally according to the just value thereof".

In order to apportion the tax burden equally, the assessor(s) must establish assessed valuations in accordance with just value.  Just value is synonymous with market value.  

FMI Read the Revaluation Brochure