Full Revaluation Contract - New Hampshire

Full 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 Revaluation Contract?
A: A Full Revaluation Contract is an agreement between a municipality and a professional appraisal firm for a complete reassessment of all properties within the municipality.

Q: Why would a municipality enter into a Full Revaluation Contract?
A: A municipality may enter into a Full Revaluation Contract to ensure that property assessments accurately reflect current market values and comply with state law.

Q: What is the purpose of a full property reassessment?
A: The purpose of a full property reassessment is to distribute the tax burden fairly among property owners based on the current market values of their properties.

Q: Who is responsible for conducting the full property reassessment?
A: A professional appraisal firm is typically hired by the municipality to conduct the full property reassessment.

Q: How often does a municipality conduct a full property reassessment?
A: The frequency of full property reassessments varies by municipality, but it is generally done every few years to ensure that property assessments remain accurate and up to date.

Q: What happens after a full property reassessment?
A: After a full property reassessment, the updated property assessments are used to calculate property taxes for the next tax year.

Q: Can property owners appeal their new property assessments after a full property reassessment?
A: Yes, property owners have the right to appeal their new property assessments if they believe they are inaccurate or unfair.

Q: How can property owners appeal their new property assessments?
A: Property owners can typically file an appeal with the municipal assessor's office or the local board of assessors.

Q: Are there any deadlines for filing a property assessment appeal?
A: Deadlines for filing a property assessment appeal vary by municipality, so property owners should check with their local assessor's office for specific deadlines.

Q: What happens if a property assessment appeal is successful?
A: If a property assessment appeal is successful, the property owner's assessment may be adjusted, resulting in a change in their property tax bill.