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All property taxes are due on September 30th of each year.
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A mortgage appraisal is an opinion of value. You probably paid for it, but it wasn't done for you, it was done for the lending institution. Its purpose is to assess risk.
We like to review the appraisal to make sure that the basic data agrees with what we have on file. We also pay close attention to the comparable sales used in the appraisal and often develop our own list of comparable sales. At that point, we have already checked our records to see if our information is correct and will then meet with you to discuss the issue.
Your tax-assessed value at a 100% average ratio is usually within 10% higher or lower than an actual sale might be.
While individual appraisals are opinions of property value based on a specific date and time and for a specific reason (refinancing, estate planning, etc), tax assessment is based on the mass appraisal method which deals with averages of sales in specific areas in a specific time period. Sales occurring after the assessment date are then part of the ongoing inventory of sales that determine when the next revaluation might occur.
No two properties are identical in that their location may be very similar but never the same. In a given neighborhood lots with the same square footage should be the same price provided that they share all of the same amenities. This also applies to the homes, if two houses were built in the same year, have identical square footage, the same story height, the same construction detail, and have the same number of plumbing fixtures, fireplaces, outbuildings, etc., the values should be the same.
In accordance with state statute, we are required to commit property taxes to the owner of record as of April 1st, the state-wide assessment date. The former owner's name is still listed because the sale took place after the date of April 1st.
There could be several reasons for the increase in assessment:
Veazie's tax year runs from July 1st to June 30th. The State of Maine Tax year begins on April 1st. The owner of record on April 1st of each year will receive the tax bill for the whole year. If the property is sold after April 1st the taxes are usually prorated at the closing.