Assessor: Paul Castonguay
The City of Waterville recently conducted a property tax revaluation. The City Council voted unanimously to conduct a property revaluation because it had been over 20 years since we last did this. Our property assessments had been at about 80% of market value. Our three (3) neighboring towns are all close to 100% of market value which means that their tax rates are much lower than ours. Once a revaluation project has been completed, the tax rate should be lower than previous years. The goal was not to raise more money through taxes. The goals were to ensure that all properties are assessed correctly and equitably and to have our tax rate compare favorably with our neighbors.
The City Assessor is charged by State law with discovering, describing, and valuing property, as well as the ownership of that property, for the purpose of taxation. To raise the funds for the budget approved by the City Council, the Assessor prepares a list of these properties annually and commits the assessments to the City Tax Collector for collection. The records compiled by the Assessor are made available for public inspection at the City Hall. The Assessing Office then reports to the State Department of Revenue Services regarding its activities for the year.