Model Contract for Revaluation Services - Maine

Model Contract for Revaluation Services is a legal document that was released by the Maine Department of Administrative and Financial Services - a government authority operating within Maine.

FAQ

Q: What is a revaluation service?A: A revaluation service is a process of reassessing the value of properties for taxation purposes.

Q: Why is a revaluation service necessary?A: A revaluation service is necessary to ensure that property assessments are fair and accurate, as property values can change over time.

Q: Who is responsible for conducting a revaluation service in Maine?A: In Maine, the responsibility for conducting a revaluation service typically lies with the local assessing department or a contracted appraisal company.

Q: How often does a revaluation service occur in Maine?A: Revaluation services in Maine generally occur every 5 to 10 years, although the exact frequency can vary depending on local regulations.

Q: Do property owners have any input during a revaluation service?A: Yes, property owners have the opportunity to provide information and documentation that may impact the reassessment of their property.

Q: Can property values increase as a result of a revaluation service?A: Yes, property values can increase as a result of a revaluation service, which may lead to higher property taxes for some owners.

Q: Can property values decrease as a result of a revaluation service?A: Yes, property values can also decrease as a result of a revaluation service, which may result in lower property taxes for some owners.

Q: What happens after a revaluation service is completed?A: After a revaluation service is completed, revised property assessments are typically mailed to property owners, and they have the option to request a review or appeal the new assessment if they believe it is incorrect.

Q: Are there any specific requirements for a revaluation service contract in Maine?A: Yes, each municipality in Maine may have its own specific requirements for revaluation service contracts, so it is important to consult local regulations and guidelines.

Q: Can property owners challenge the results of a revaluation service?A: Yes, property owners have the right to challenge the results of a revaluation service if they believe their property has been assessed incorrectly or unfairly.