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LEWISTON — A citywide revaluation is likely coming soon, and its final impact on taxpayers could depend on the outcome of the New England Clean Energy Connect project.
But, according to City Assessor William Healey, a revaluation is on the horizon regardless of what happens with the planned converter station in Lewiston.
A revaluation, typically implemented every 10 years, is done to assess the proper value of all real estate and personal property. Lewiston has not done a full revaluation since 1988, and a planned one in 2006 was tabled due to the recession.
According to up-to-date numbers from Healey, Lewiston homes, on average, are assessed and taxed at 76% of their full market value, while commercial and industrial properties in Lewiston are assessed and taxed at 81% of their value. A revaluation would equalize those values, shifting the tax burden slightly away from businesses and toward residential property owners.