Bangor City Assessor's Annual Report Recorded 8.18.26

The City of Bangor held an annual assessment update meeting on August 25, 2026, to present the latest property valuation changes effective April 1, 2026, for fiscal year 2027. The city assessor reported on the status of the KRT Appraisal LLC contract, noting delays in delivering preliminary real estate values, which led the city to use internally updated data and mass appraisal software for property assessments. The presentation detailed adjustments to residential, commercial, and industrial property values, including neighborhood-specific increases ranging from 5% to 24%, and highlighted the impact on the municipal mill rate, which decreased to $17.13 per $1,000 of assessed value. The meeting also covered business personal property tax assessments, exemptions, and state reimbursements. No new procurement contracts or vendor selections were discussed, but the update referenced the ongoing appraisal contract with KRT Appraisal LLC and the city's use of appraisal software for valuation modeling.