How Your Property is Assessed

The Assessor first reviews all the property to be assessed and then values it. Accurate appraisals require constant searching and digging for significant facts to accumulate and analyze in order to estimate the fair market value of your property.

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Sales Comparison Approach

The first method compares your property to others that have sold recently. These prices, however, must be analyzed very carefully to get the true picture. One property may have sold for more than it was really worth because the buyer was in a hurry and would pay any price. Another may have sold for less money than it was actually worth because the owner needed cash right away. The property was sold to the first person who made an offer. When using the sales comparison approach, the assessor must always consider such overpricing or underpricing and analyze many sales to arrive at a fair valuation of your property. Size, quality, condition, location, and time of sale are also important factors to consider.

Cost Approach

A second way to value your property is based on how much money it would take, at current material and labor costs, to replace your property with one similar. If your property is not new, the assessor must also determine how much it has depreciated. In addition, the assessor must estimate how much a lot like yours would be worth if vacant.

Income Approach

The third way is to evaluate how much income your property would produce if it were rented as an apartment house, a store, or a factory. The assessor must consider operating expenses, taxes, insurance, maintenance costs, and the return most people would expect on your kind of property.

New Hampshire Law

Revised Statutes Annotated - Chapter 75

How Appraised: "The selectmen shall appraise all taxable property at its market value. Market value means the property's full and true value as the same would be appraised in payment of a just debt from a solvent debtor. The selectmen shall receive and consider all evidence that may be submitted to them relative to the value of the property."

Date of Appraisal

RSA 76:2 Property Tax Year. The property tax year shall be April 1 to March 31 and all property taxes shall be assessed on the inventory taken in April of that year. Other duties of the Assessor - the administration of:

  1. Current Use
  2. Timber Tax
  3. Exemptions
    1. Elderly
    2. Veterans
    3. Blind
    4. Disabled

Hanover Assessing Office

  • Maintenance of records
  • Maintenance of maps
  • Administration of State Statutes
  • Review of equity of assessments and changes in value
  • Advisory Board of Assessors
  • Defense of values
  • Public relations
  • Education and certification requirements