Monday, January 23, 2012

Assessing the Valuation

Prompted by a question from my friend Mario, I've been rummaging around during the past several days on the Town of Bar Harbor's assessing database, looking up information about who owns what and how much the town thinks it is worth. In particular, I was looking for property assessment information on four major local landowners: Acadia National Park, The Jackson Laboratory, Ocean Properties (which operates in Bar Harbor through many llc's) and David J. Witham. Ocean Properties, owned by the family of Bangor native Thomas Walsh, and Witham are the two big rival hoteliers in town.
I found that together, these four entities own more than two-thirds of all the property wealth in Bar Harbor, which the state estimates to have a total value of $1.44 billion. Acadia's land in Bar Harbor (not counting parts of the park that lie outside the town) represents 45 percent of all the land value in Bar Harbor. Acadia and Jackson Lab are nonprofits, of course, which means they do not pay the town property taxes, the way Witham and Walsh do. Walsh is likely the largest taxpayer in Bar Harbor.
During my rummaging, I also came across the 2011 state valuation figures for every municipality and county in the state. Bar Harbor, incidentally, has the 25th-highest valuation of all the municipalities in Maine.
So, to make it all somewhat easier to digest, I slapped together a spreadsheet that lists:

  • The highest municipal valuations in the state (>$1B).
  • The valuation totals for each county.
  • The municipal valuations for Hancock and Washington counties.
  • The property assessment totals of the four Bar Harbor landowners mentioned above 
Admittedly, it's little more than a collection of stats. If you see any larger trends here, feel free to point them out.

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