Lisbon property owners can attend a Town Council workshop tonight at 7 p.m. at the town office to learn about the town’s concluding revaluation process.

In August, tax bills will go out to residents reflecting the new valuations.

The town last had a revaluation done in 1990 said assessor Kathy Malloy, and another four-year revaluation process is concluding, with a price tag of $325,000. The council is conducting a workshop to inform the public about the revaluation process and what to expect, as well as the timeline.

David Ledew, the director of the property tax division for Maine Revenue Services, will speak about what revaluations are and why municipalities do them, and give a broad overview of what revaluations do and what people can expect as new values are implemented.

Starting in 2011, William Van Tuinen Tax Assessment Services, has visited properties, measured and gathered data as part of the revaluation effort. William Van Tuinen will also speak tonight, more specifically about what property owners can expect.

Malloy said estimate of value letters will go out to taxpayers in the spring, and will provide them with times they can come sit down with appraisers to go over values and iron out as many problems as possible before the tax commitment.

Though the state doesn’t like to see municipalities assessed values dip below 70 percent of fair market value, Lisbon’s valuation dropped down as low as 56 percent. Values were increased across the board for properties in 2010 which brought valuations up to 80 percent of fair market value and the valuation is currently at 86 percent.

“All towns have to go through this,” Malloy said. “It’s something that has to be done.”

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