I recently purchased my house for $275,000 and the town has it assessed at $325,000. Will you automatically reduce my assessment?

Assessments are not automatically adjusted up or down based on recent sales. Adjustments might occur if current information indicates an error in the assessment record, however current sales information will be kept in our inventory of sales to be used at such time when another revaluation or interim valuation adjustment occurs. A property owner concerned about their assessment compared to a recent purchase price should consult Bulletin #10 published by Maine Revenue Service in which the appeals process is explained and a property owner can explore whether their current assessment represents an equitable value when compared to comparable assessments.