Cyclical Revaluation Contract - New Hampshire

Cyclical Revaluation Contract is a legal document that was released by the New Hampshire Department of Revenue Administration - a government authority operating within New Hampshire.

FAQ

Q: What is a Cyclical Revaluation Contract?
A: A Cyclical Revaluation Contract is an agreement between a municipality and a revaluation company to periodically assess and update the values of all properties within the municipality.

Q: Why does New Hampshire use Cyclical Revaluation Contracts?
A: New Hampshire uses Cyclical Revaluation Contracts to ensure that property values are accurately assessed and that property taxes are fairly distributed.

Q: How often are Cyclical Revaluations conducted in New Hampshire?
A: Cyclical Revaluations are typically conducted every few years in New Hampshire, with the specific timeframe varying depending on the municipality.

Q: Who is responsible for conducting the Cyclical Revaluations in New Hampshire?
A: The municipality enters into a contract with a revaluation company, which is responsible for conducting the Cyclical Revaluations.

Q: What is the purpose of a Cyclical Revaluation?
A: The purpose of a Cyclical Revaluation is to ensure that property values are assessed accurately and equitably, which helps to maintain a fair property tax system.

Q: How does a Cyclical Revaluation affect property owners?
A: A Cyclical Revaluation may result in changes to the assessed value of a property, which can impact the amount of property taxes a property owner is required to pay.

Q: Can property owners dispute the results of a Cyclical Revaluation?
A: Yes, property owners have the right to appeal the assessed value of their property following a Cyclical Revaluation.

Q: Are there any exemptions or special provisions for certain properties in a Cyclical Revaluation?
A: Yes, there may be exemptions or special provisions available for certain properties, such as those designated as historic properties or agricultural land.

Q: How can property owners prepare for a Cyclical Revaluation?
A: Property owners can prepare for a Cyclical Revaluation by keeping records of any improvements or changes to their property, and by familiarizing themselves with the assessment process in their municipality.