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Joyce Endee

Gorham revaluation done, most properties down

August 15, 2012
GORHAM - Gorham selectmen were presented with the results of a town-wide revaluation at their meeting last week. Notices were scheduled to go out to property owners last Thursday, August 9, and residents will have from August 15-28 to meet with KRT officials, the company that did the reappraisal, with questions and concerns.

According to information presented that night, the overall town valuation has dropped from $310,211,100 to $270,747,700. Residential values dropped 19 percent, and commercial dropped 11 percent.

The reappraisal was done because the Coefficient of Dispersion, that is the difference between market value and what the town was appraising properties for for tax purposes was too high. It had been 14.39 percent for single family, 40.87 percent for mobile homes and 56.56 percent for vacant land. They are now 5.82, 6.88 and 6.82 percent respectively.

At the meeting last week a resident asked if the taxes would be raised to make up the difference for the lowered valuation.

While selectmen were noncommittal that night, generally the tax rate does change after a revaluation. The town budget is an amount that has to be raised and if values of properties goes down, the tax rate will generally increase. However, because the values are down and a property's taxes are raised based on per thousand dollars valuation, most properties shouldn't see too big a change in what they actually pay. There will be exceptions, however, for example, if the valuation of a particular property doesn't change much and the tax rate increases the amount of the tax bill will be up.

Town Manager Robin Frost told the Reporter that it would be October, at the earliest, before selectmen know the actual tax impact.

Salmon Press
Martin Lord Osman
Garnett HIll
Varney Smith
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