Valuation Update

The 2024 valuation update was completed to maintain our property valuations at 100% of market value as defined by State valuation. State Valuation is the annual process the State of Maine goes through to audit and compile the total property value of each Maine city or town. Because the process takes time to complete, each year's valuation is actually based on the sale of property two years before the valuation date. Thus, the State of Maine's valuation of the City of Bath in 2024 is based on sales of property between July 1, 2021 and June 30, 2022.

In order to be eligible for full reimbursement from the State of Maine for tax exemptions such as the homestead exemption and the Business Equipment Tax Exemption, our property values have to be within a few percent of 100% of market value, as defined by the State Valuation for 2024. If we are below this level, the City loses a percentage of our reimbursement (the total reimbursement in 2024 is over $3 million).

Sales that were reviewed as part of this year's valuation update are available in the PDFs below.

• Study of the 2021-22 sales and 2024 valuations(PDF, 1MB)
• Study of the 2022-23 sales and 2024 valuations(PDF, 831KB)
• Study of the 2023-24 sales and 2024 valuations(PDF, 764KB)
• Sales data 2020-24(XLS, 305KB) (multi-page spreadsheet)

Percent of Value Change from 2023 to 2024 and Assessing Neighborhoods (Maps)

2024 Valuation Update Chart(PDF, 60KB)
This chart shows how the 2024 valuation update affected the valuation and the taxes for a variety of property types in Bath. There are a number of files available below the chart that provide more details on how property values were changed in the City for the 2024 tax year. More information is available by selecting "Commitment Files" in the left hand menu. There is a separate link in the same menu with copies of the 2024 tax bills, and property record cards for each parcel will be posted as soon as possible.

Additional Documents