Full Statistical Revaluation Contract - New Hampshire

Full Statistical 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 Full Statistical Revaluation Contract?
A: A Full Statistical Revaluation Contract is an agreement between a municipality and a third-party appraisal company to conduct a comprehensive assessment of all properties within the municipality.

Q: Why would a municipality enter into a Full Statistical Revaluation Contract?
A: A municipality may enter into a Full Statistical Revaluation Contract to ensure that property assessments are accurate and up-to-date, as well as to comply with state laws regarding property valuation.

Q: What is the purpose of a Full Statistical Revaluation?
A: The purpose of a Full Statistical Revaluation is to determine the fair market value of all properties within a municipality, which is used to calculate property taxes.

Q: How often does a Full Statistical Revaluation occur?
A: The frequency of Full Statistical Revaluations varies by municipality, but they typically occur every several years to ensure that property assessments reflect current market conditions.

Q: Who conducts the Full Statistical Revaluation?
A: A third-party appraisal company with expertise in property valuation is typically hired by the municipality to conduct the Full Statistical Revaluation.

Q: How long does a Full Statistical Revaluation process take?
A: The duration of a Full Statistical Revaluation process depends on the size and complexity of the municipality's property inventory, but it typically takes several months to complete.