Is your Tax Bill Too High? New Hampshire Tax Abatement 101

Several communities have recently completed re-assessments that have left many people wondering how they can abate (reduce) their taxes.  Even if your city or town has not completed a “re-val” you can question the assessment by a process called tax abatement.

In all New Hampshire communities, all assessments are paid on the market value of the property on April 1^st of the tax year.  Therefore, for the 2016 tax bill, the assessment must reflect the “equalized” value of the property as of April 1, 2016.

Since prices/values can decrease and increase over the years, the state allows assessment to be higher or lower than market value provided that they are equitably assessed.  What does this mean?   Let’s say you live in Manchester NH and the average assessment is 110 percent of market value (example only) and your property is 10 percent over assessed.  In this case you are equally assessed (or equally over-assessed) and have no case for abatement.

 

How do you file an abatement?

Step One:  Obtain a copy of the tax assessment card from your community.  If the full card is not available online, I suggest you go to the town and obtain the full card which has the most detail.

 

Step Two:  Carefully review the card to accuracy.  Note the assessor’s ratings with regards to condition and quality.

 

Step Three:  Research comparable sales, enlist the assistance of a realtor friend or hire a professional appraiser.  If hiring an appraiser, select one that has experience in this type of assignment.

 

Step Four:   Complete the State of New Hampshire Tax Abatement Form.  Here is the link to download the form:       https://www.nh.gov/btla/forms/documents/municipal-abatement.pdf    The abatement MUST be filed no later than March 1^st following the tax year (March 31, 2017 for 2016 tax year).

 

The abatement form summarizes the rules, deadlines and procedure for abatement.  If you need assistance in analyzing your property do not hesitate to call Jack Lavoie, SRA at 603-644-1000 or email at: jacklavoie@comcast.net   For more information, find us on our website at www.AppraiserNH.com