HANOVER – Owners of the approximately 300 properties in town will receive a letter within the next two weeks providing estimated new property values.

Town Clerk Clem Worcester said assessors John O’Donnell Associates of New Gloucester are finishing a revaluation of all land and building parcels.

Worcester said the firm will set up appointments with property owners who question their new valuation, most likely in early August.

The final tax assessment will be on property tax bills that will be mailed out after the Oct. 28 town meeting at the Town House.

The tax rate is $15.40 per $1,000 valuation now. Although the final rate could be less, the likelihood is that the net amount of property taxes for many owners will be higher because a revaluation has not been completed in years.

Generally, according to officials, when a revaluation is completed, one-third of properties pay more, one-third pay less, and one-third pay about the same. That may not be the case in Hanover because about one-third of the entire town’s properties are at Howard Pond.

Worcester said the revaluation will likely be a major topic when voters gather at the annual town meeting.

Also at the town meeting, 12-year selectman veteran Bruce Powell will resign, leaving two years remaining in his three-year term. Selectman Frank Morrison’s seat is also up for election.

The town is managed by a board of three selectmen. Brenda Gross, who has served for nearly 20 years, holds the third seat.