2024 Property Assessment Revaluation

From: Avitar Associates of NE.

For tax year 2024, all property values will be updated to market value as of April 1, 2024. This is a process that every municipality must complete as often as every fifth year and was last done in 2019. With the real estate market fluctuating over the past few years, many property owners may see values increase; however, just because values increase DOES NOT NECESSARILY mean that your taxes will increase.

Taxes are based on the combined budgets for the Town, school, and county. The tax rate is determined by taking the total of those budgets divided by the overall value of the Town to arrive at a tax rate to “pay the bills”. Unfortunately, there is no way to determine the impact of the update until after the values are finalized and until after the NH Department of Revenue Administration (DRA) calculates the total amount of money needed to “pay the bills”. That process takes place in the fall, usually in October, with the Town’s tax rate the result.

Enough about taxes, let’s get back to the update. As part of this process, Avitar assessing staff members will visit all the recent sale properties to verify that the physical data is accurate. This is especially important for the sale of properties as they become the basis for the new values. Notices with their new preliminary value will go out to every property owner. This notice includes instructions on how to access the website where you can schedule a phone appointment with an Avitar representative to discuss your assessment, should you have any questions. Also included in the notice are instructions to access the on-line database and review the information about your property and every other property in town, including the sale properties that were used to help establish the new values.

As part of this process, the DRA has some oversight responsibilities, which includes visiting a sampling of those properties to verify data accuracy and monitoring the hearing process. Once the update has been completed, Avitar will deliver to the Town a manual which describes the process in detail. The DRA will also review that manual for compliance with applicable state law.

If, at the end of the process, you have any further questions or concerns, please contact the town, as they will take your contact details and Avitar will reach out as soon as possible.