Archive Monthly Archives: February 2017

NH Real Estate Taxes and they’re Abatement. Deadline March 1, 2017

Notes from our meeting 2/14/2017…

Hey Mark,

Good to see you today. 

New Hampshire Real Estate tax rates vary from Claremont $42.62/thousand dollars of building and land value – Seabrook at $14.79/thousand with a Statewide average of $25./thousand.

Property owners should review their Tax Card (Field Card a/ka property record card, assessment card) at their City/Town Tax Assessors office.

They’ll be looking for accuracy of the land and building descriptions. Then they should get the recent comparable sold properties (sold within the past 3 months and within a 0.5 mile radius) to compare their own Property to these similar properties. No we are dealing with values as of April 1 2016. There is no set time frame.  Sometimes I will use sales two years prior to one year after. Each property is different, for commercial  properties, sometimes you need comps 20-30 miles away.  In Wolfeboro (waterfront properties) I use comps 5-10 miles apart.

If they feel their Property would sell for less than the amount listed in the Tax Assessors report then they should contact you. The window to file is December 1, 2016 – March 1, 2017. The window actually opens when the tax bill is mailed .  It could be November 1 in some cases.

Basically the average City/Town Tax Assessors are approximately 1/3 Under valued, 1/3 Accurately valued and 1/3 Over valued.

When you decide to take on a RE Tax abatement  1/2 of your cases are settled ( half are denied or insufficient) with the initial town Abatement application and 1/2 need an Appeal filed to the BTLA. The appeal has a $65 filing fee.

The New Hampshire Board of Tax and Land Appeals https://www.nh.gov/btla seems to be favoring Cities/Towns (rather than Tax Payers) because of their burgeoning budgets but with recent appreciation that is helping town governments. I don’t think it has anything to do with budgets but there is a bias with the Board in favor of municipalities.

The due date for the final tax bill is December 1 or 30 days after the final tax bill was mailed, whichever is later.

There are two main components to the total tax on your bill.  This is the assessment and the tax rate.

For those interested in lowering the tax rate, you need to get involved with the school and Town’s budget planning, to prevent them from spending too much of your money.

The tax rate is determined by the Town’s budget divided by the total assessed value of all the property in town times $1000.

             BUDGET                .       X   $1000     = TAX RATE
TOTAL PROPERTY VALUE

The tax rate is multiplied by each individual assessment to determine your tax liability.

Most property record cards are on line:

Thanks, Mike

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