Portland’s property tax rate climbs slightly but is still lower than other Maine cities

When Portland property owners receive their tax bills this month, they’ll see that the mil rate has increased 4.9% from last year. The millage, or mil rate, translates to $12.58 per $1,000 of assessed value, up from $11.98 last year. Portland’s total taxable value of real estate and personal property is now $20.2 billion, an increase of $133.8 million over last year, or 5%, the city said in a news release. The increase in overall value is due to new construction and renovations, the city said. Portland’s tax-exempt real estate value is $3.85 billion, for a total value of real estate and personal property of $24 billion. Why the tax rate increase? The increase is due to a rise in the city budget, largely due to escalating costs for labor, services, health insurance, METRO expenses and the Cumberland County tax. The $364 million municipal budget was approved by Portland City Council in June. Portland Public Schools' budget, approved separately by voters in June, totals $179.3 million. The city undertook a revaluation in 2025, which often helps to reduce tax rates, as property assessments are updated to reflect full market value, changing the equation. Other towns’ rates for comparison Many municipalities across the state did a revaluation in the past year or two. Some rates have not yet been announced but will be this month. Traditionally, communities with the highest property values have the lowest mil rates —though not the lowest tax bills. A quick survey finds that Kennebunkport has possibly the lowest rate of $6.75 per thousand valuation, followed by York at $8.12, Bar Harbor at $10.34 and Camden at $12. Lewiston will once again have one of the higher rates in the state — $34.15. The city of 37,000 residents just completed a revaluation, the first since 1988, which will be factored into the mil rate equation for the 2027-28 tax season. The city of Caribou in Aroostook County has a rate of $24.50, also one of the higher in the state. Bangor’s new rate is $17.13, just a bit lower than Waterville's of $17.40. Augusta’s rate dropped from $24.40 in the most recent fiscal year to the new rate of $14.23, after a revaluation. The first half of property tax payments are due in October; the second half in March 12.