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HOME > NEWS > PEPPERRELL POST ARCHIVES The following article is an archive of the Pepperrell Post. Please note that the information in it may have changed since the article was published. To read the most up-to-date articles, see the current issue of the Pepperrell Post
What's up with assessments? If you have owned property in the City of Saco these last three years you know that we have been adjusting assessed values to an average ratio of 95% for values as of April 1, 2005. As we now look forward we expect to maintain our values to at least 91 to 93 % of current market value. This means annual adjustments of all values each year but we also avoid ever having to undertake city-wide revaluations. City-wide revaluations could cost $600,000 to $750,000 for a city Saco's size. 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 110% of the property's market value. Our last update of values was in 1987. These past years have seen a tremendous increase in property values. Our assessments done in 1987 were falling far below 65% of what properties are selling for today. I am happy to report for 2007 the market is in what one might call a pause. The real growth in Saco was about 4%, and about 2% or $30 million estimated for new construction, for a total of 6%. The first year we began this process, I met with 650 property owners. The second year, I met with 140 owners. We'll welcome you this year if you have any questions about your assessment. 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 final word. We do expect to keep our values at close to current values. All exemptions will be kept at the full amount allowed by law. —Dan Sanborn |
Services • Get a form • Pay city bills • Register your car • Register your snowmobile • Register your boat • Get a fishing license • Pay traffic violations • Search marriage/death archives Information • Find your ward • City Hall telephone numbers • More information  GIS MAPPING You can now research property lots through the city's Geographic Information System (GIS) maps. Just follow this link. Note: This will take you off the City of Saco website. 
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