City of Auburn – FY 2018-2019 Valuation Summary
The Auburn Assessing Division is responsible for maintaining fair and equitable valuations of real and personal property throughout the City. The following is a summary of property assessed as of April 1, 2018.
Of the approximate 65 square miles within the municipal limits we assess 56.58 square miles of total area (most roads and water bodies are not assessed). The City contained a total of 9387 real estate parcels as of April 1, 2018. The total assessed value of real estate was just over 2.2 billion dollars before exemptions.
In accordance with State law, business personal property must also be assessed. Business owners are required to report certain tangible business assets each April. There were 1074 taxable personal property accounts in 2018. These combined to have a taxable value of over 125 million dollars. Many personal property assets are also eligible for the BETE exemption. In fact, the exempt assets exceeded the taxable assets by 65 million dollars! 190 million dollars worth of business assets, after depreciation, were eligible for the BETE exemption. In 2018, the State of Maine expanded the BETE program. This means that more business assets are eligible for the exemption now and will be in the future. Combined, over 315 million dollars of business personal property assets were assessed before exemptions were counted.
Table 1 below shows a summary breakdown of the City’s total assessed value. Charts 1 and 2 represent taxable versus exempt properties and assets (Real Estate and Personal Property).
Look for more assessing statistics and facts in future posts...