Portland city councilors will be asked Monday to get the ball rolling on a city-wide property revaluation.
State law requires communities to make sure assessments stay close to actual market prices for property. City Assessor Christopher Huff says Portland's assessments are drifting off target.
"We're pretty certain that we'll be under - at or under - that 70 percent ratio by about fiscal year '21, possibly even fiscal year '20 and that's why we're just trying to be proactive," Huff says. "This is something we're going to have to do."
Huff points out that re-assessment alone won't raise anyone's taxes. But it is likely to cause some property owners tax bills to rise, while others will see a decline.
Huff says once the process begins there will be a series of neighborhood meetings to answer questions about the revaluation process.
