2020.12.07 Council Agenda Item 6
Summary
Update on the townwide property revaluation project.
A public comment period will not be included with this item.
ACTION: Council action is not anticipated.
Description
Background
The Town of Falmouth has been planning to conduct a town-wide property revaluation. Because property values fluctuate with market conditions, it is necessary to regularly conduct revaluations to ensure an equitable distribution of the tax burden. During a revaluation, all real property in the Town is reviewed and assessments are adjusted to their fair market value. Falmouth’s last revaluation occurred in 2009.The planned revaluation was discussed at the July 22, 2019, December 9, 2019, January 13, 2020, and April 13, 2020 Council meetings.
In January 2020, the Town entered into a contract with Vision Government Solutions to conduct the revaluation under the supervision of Cumberland County Regional Assessing, which provides real and personal property assessing services to the Town. Data collection and inspections were set to begin in April 2020. With the onset of the COVID-19 pandemic, the Council approved an order to request the Town Manager to suspend the project at the April 13 meeting.
Current Status
At this meeting, Town staff and Vision will provide an update on plans to re-launch the revaluation beginning in January 2021. The revised schedule is attached. With health in safety in mind, the schedule includes two phases of data collection. The first phase, which will take place throughout 2021, will involve only exterior home assessments. The second phase, involving interior assessments, will not begin until July 2021 and will continue well into 2022. The project is anticipated to be complete by August 1, 2022.
