A full measure and list property revaluation as mandated by the State of New Hampshire is beginning in Concord. The last full valuation occurred in 1990. Representatives of Vision Government Solutions Inc., who will be carrying photo IDs and wearing identifiable neon vests, will be conducting interior and exterior inspections of all properties to verify the accuracy of information currently listed. The goal of this project is to ensure that all city property assessments are at full and true market value, to provide fairness to all taxpayers. Properties where improvements have been made that aren't reflected in the current data (adding a bathroom, finishing a basement, etc.), will see their valuations increase to reflect those improvements. Inspections are scheduled to start in the City's South End and will continue through next year. You can visit the City's revaluation web page for more information, including a map of the neighborhoods and list of addresses where inspections will occur.
Property revaluation can sometimes cause concern or confusion. If the revaluation raises your property assessment above its current level, that doesn't mean your taxes will increase by the same percentage. For example, if your property is currently assessed at $250,000 and the revaluation determines it is now valued at $500,000, that does not mean your taxes will double. It just means your property value has doubled. After the City and School Districts determine their budgets each spring, the NH Department of Revenue Administration will set a tax rate with the objective of generating sufficient revenue to cover the budgets. Residents always have opportunities to weigh in on the budget process.