Property owners in Farmington will soon receive their tax bills following a major revaluation that roughly doubled the town’s overall valuation. In response, the Select Board set the 2025 tax rate at $9.81 per $1,000 of value during their October 14 meeting—less than half of last year’s rate.

Town Manager Erica LaCroix acknowledged the alarm many residents felt upon seeing their updated property assessments. “There’s a lot of people alarmed by their property values,” she said. “But I will again remind everyone that since all properties increased significantly, this doesn’t necessarily equate to an increase in your tax bills.”

The revaluation, completed on September 29 by KRT Appraisal, marked the town’s first in more than two decades. LaCroix explained that such a long gap between revaluations caused unequal assessments and distorted fairness among taxpayers. “It’s been over 20 years, probably closer to 25 or 30, since the last revaluation,” she noted. “Had we been doing it all along, we wouldn’t have seen this type of increase. The failure to do the 10-year reval is why we’re seeing dramatic increases now.”

Despite the significant jump in property values, LaCroix emphasized that the town’s annual budget for 2025 is only 3% higher than in 2024. As a result, most taxpayers can expect increases close to that amount. “If your property went up a whole lot more, you were probably undervalued before,” she explained. “If it doesn’t go up that much, you were probably paying more than your fair share in the past.”

She also reminded residents that the valuation letters did not include exemptions such as homestead, veteran, and tree growth exemptions. “Those will come through with your actual tax bills,” LaCroix said, urging patience until bills arrive next week.

“When property values go up, the mil rate goes down,” LaCroix added. “That’s how the system keeps things fair. The town can’t collect more than what voters approved at town meeting.”

According to KRT, commercial properties were previously undervalued more than residential properties. This may shift a portion of the tax burden away from homeowners.

LaCroix concluded her remarks with reassurance for those worried about large jumps in their tax bills. “I understand your fears,” she said. “But I really request that everybody just hold their horses until we see what the tax bills actually say. I think most of you are going to find it nowhere near as dramatic as you think.”

During the meeting, LaCroix also recognized former Selectman and volunteer firefighter Steve Bunker, who received the 2025 Ethel M. Kelley Award from the Maine Municipal Association. The award honors a lifetime of dedicated and selfless public service. LaCroix said Bunker exemplifies these qualities and is “richly deserving” of the recognition.
https://www.sunjournal.com/2025/10/16/farmington-sets-new-lower-tax-rate-in-wake-of-dramatic-property-value-hikes/