2023-2024 Tax Bills
This week, Biddeford property owners will receive their first 2023-2024 tax bill. This year’s tax rate is $13.12 per thousand. Payment is due on October 11, 2023.
Some properties will see significantly larger tax increases this year due to the recent adjustments to property values that were made in order to make assessed values more comparable to market values. We understand that people may have questions about their new property values.
The Assessor will be making himself available to meet with any property owner that wants to discuss their latest tax bill. He will explain and discuss all components that make up your property value to ensure that your assessment is fair and equitable.
If you would like to meet with the Assessor about your tax bill, you can book a 30-minute time slot online at https://www.calendly.com/biddefordassessor or call our office at 207-284-9003 for scheduling assistance. Appointments will be available for dates between September 25 and December 14. You can select between an in-person appointment, Zoom meeting, or phone call for your convenience. Please use the comment box to provide any additional information or specific questions that you have for our staff to help us prepare for the meeting.
If you prefer to ask questions by email, please contact us at email@example.com.
Our office hours are Monday & Tuesday 7:00am - 5:00pm, Wednesday & Thursday 8:00am - 4:00pm.
Biddeford’s revitalized downtown has led to extensive growth and unprecedented increases in property values. The pandemic also contributed to these trends as buyers from urban areas relocated to smaller communities thanks to an increase in remote work options.
State auditors require the average ratio for a city’s assessed property values to be between 70% and 110% of market value. Assessors aim to declare a 100% ratio. This allows all qualifying residents to get the full $25,000 Homestead Exemption and $6,000 Veterans Exemption. Biddeford’s projected ratio for this year prior to making property valuation adjustments was in the low 70% range.
Earlier this year, the Assessing Department hired professional assistance to assist with the revaluation of commercial property. This company performed a thorough analysis of factors such as income and vacancy percentages to determine valuation for commercial property. Department staff focused on residential revaluations.
The total taxable valuation increased over 30% on average for properties in Biddeford. To compensate for the valuation increase, the mil rate has decreased from last year’s $16.41 down to $13.12 (per thousand dollars of value).
There was an overall budget increase of about 6% for Fiscal Year 2024. Generally speaking, if your property value increased by 30%, your taxes would increase 6% compared to last year.
The image below shows the projected shift of the tax burden between different types of properties for Fiscal Year 2024.