FARMINGTON — Preliminary property values from a long-awaited townwide revaluation are now in the hands of Farmington property owners, with notices mailed in mid-September.

It is the first formal revaluation in at least 20 years, though officials could not find a record of the last one. State law requires municipalities to complete the process every 10 years.

The work was conducted by KRT Appraisal headquartered in Haverhill, Massachusetts. While some residents have focused on the firm being from out of state, Town Manager Erica LaCroix emphasized that the staff performing the work are certified Maine assessors, as required by law. The $312,500 contract also included software upgrades and a revaluation of personal business property.

According to Town Assessor Frank Xu’s Sept. 17 report, KRT completed its final field review Sept. 11, addressing boundary discrepancies, correcting ownership records, and updating accounts for new or demolished structures. Draft valuations were posted online Sept. 15 and mailed the same day.

Xu wrote in his report that he handled more than 30 calls and several emails in the days following the release.

“Most inquiries involved questions about new values, ownership and mailing address changes, and correction of building placement errors,” the report said. Town office staff, LaCroix said, is limited to directing residents to KRT for review appointments, explaining that tax bills are not directly tied to the preliminary values, and providing copies of the Sept. 10 public presentation that outlined the process.

Residents may schedule appointments with the assessor, with the usual abatement and appeal process still available. LaCroix encouraged taxpayers to wait until bills are mailed Oct. 15 before filing appeals.

“With the values going up significantly, the mill rate will likewise decrease significantly,” LaCroix said. “Despite the increase in property value some will actually see their bill decline or stay roughly the same.”

Farmington’s 2025 budget rose by 3%, so bills are expected to increase by that amount overall.

LaCroix also noted that not doing a revaluation has significant impacts. At a 79% certified ratio in 2024, homeowners with a homestead exemption paid about $112 more than if the town had a 100% ratio. Without the revaluation, the 2025 ratio would have dropped to 59%, forcing homeowners with the homestead exemption to pay $225 more.

The lower ratio also reduces money received from the state, which is based on a town’s total valuation. Farmington recently got a $55,000 bill from the state for overpayments the state made to the town tied to the 2024 ratio. With the revaluation complete, the certified ratio returns to 100%, meaning the town can keep 100% of the state revenue-sharing funds it receives.

LaCroix and Xu underscored that the revaluation does not increase the total amount of money raised from taxpayers by the town. That amount is determined by the budget approved at town meeting, plus school and county assessments.

The revaluation, they said, spreads the tax burden more evenly. The town’s presentation gave the example of two identical properties, one assessed higher than the other, leading to a $700 difference in taxes. “That’s not fair, and it’s what a revaluation is supposed to correct,” LaCroix said.