Portland will work with Tyler Tech to conduct commercial reval
The city of Portland is beginning a revaluation of all commercial real property, in preparation for new assessments to be made in the 2021 fiscal year.
Portland has hired Tyler Technologies (NYSE: TYL), a Texas-based government software vendor with four offices in Maine, to help with the reval, according to the city website. Tyler is now mailing requests for current income and expense data to owners of commercial, industrial and apartment properties.
The requests are expected to arrive this week, and should be returned by Aug. 16.
While there is no penalty for not providing the information, Portland is encouraging property owners to cooperate.
“Accurate and complete information is critical to determining fair and equitable values that reflect current market conditions,” the city said on the website. “In addition, this information will be required should an owner wish to challenge their new property value during next year’s informal hearing/appeal process.”
Property owners with questions can contact Tyler at the Revaluation Hotline, 207-874-8763.
A similar mailing for all residential property owners will occur later this summer, the city said.
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