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A Newsletter by the City of Saco, Maine	February, 2005	Return to newsletter index

If you have owned property in the City of Saco these last two years, you know we have been adjusting assessed values to an average ratio of 95% for values as of April 1, 2005.

Many have asked why we had to change all the assessed values in the first place. The answer is found in state law. Assessed values when compared to current market values must be at least 70% and not more than 100% of the property's market value. Our last update of values was in 1987. In the past 5 years we have seen a tremendous increase in property values. Our "old assessments" done in 1987 were falling well below 65% of what properties are selling for today.

Based on this low ratio of 65%, we had to move our values forward to more closely reflect today's reality. What was different from past years is the method we used to change the values.

First, we converted all of our assessments to a modern computer assisted mass appraisal system. Second, we hired two people to field check all the new data for accuracy. We looked for incorrect measurements, outbuildings that have been added or removed or conditions in properties that may have changed.

The biggest difference this time around was that we elected to move our values forward over a three year assessment cycle from a low of 65% to 75%, then 85% and 95%. I am pleased to report that this method is working well. Most people have found it better than moving to 100% in one year.

The first year we began this process, i met with 650 property owners. The second year, i met with 140 owners. I would expect, for this year, we will meet with about 140 owners again.

I hope these meetings are of value in two ways. First, I know the citizens have a better appreciation of the process, and second, they understand the role of the assessing department and the state laws we must comply with.

One more thing we did that I know is of value to our citizens was placing all of the assessments on the web. We are a public institution and you have the right to see your appraisal. This data empowers the citizens of Saco.