Winnipesaukee Forum - View Single Post - Challenge of an over-assessed property

Descant · 12-05-2020, 11:44 AM

Most towns now hire a professional assessing company. The Town assessor is hired by the ton to handle day to day clerical duties. This person may be an expert in the laws and regulations about tracking, but may or may not be an assessor or real estate expert, the quality of the answers you get may vary accordingly.
While there is a "town assessor", the Board of Selectmen is usually the Board of Assessors. I recall an instance several years ago when the market tumbled on residential condominiums. The BOS/BOA voted to reduce the assessment on all residential condos by 30%. Point is you have some local control.
Appraisals and assessments are not the same although many use the words interchangeably. In any event they both rely on comparable properties. When you're assessing 100's of properties, there are bound to be mistakes. The assessor and an appraiser may choose different comps. If you can demonstrate why their choice was not the best, there may be a change. But you have to be able to demonstrate, not just say "My house would never sell for that"
Let's say an independent appraisal costs $500. If you hire an attorney, his/her first move is to say you need an independent appraisal, and charge $500 plus $100 for a staff member to call the appraisal company. If you hire a lawyer will the fee be more or lass than the tax savings, IF you win?
A Realtor friend may be able to help you find other comps if you think the assessor made incorrect choices. If you don't get satisfaction in town the NH Bureau (Board?) of Land Tax Appeals may be a last resort.
Let us know how things turn out, please.

12-05-2020, 11:44 AM	#6
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,039 Thanks: 1,212 Thanked 1,518 Times in 985 Posts	Town to Town Most towns now hire a professional assessing company. The Town assessor is hired by the ton to handle day to day clerical duties. This person may be an expert in the laws and regulations about tracking, but may or may not be an assessor or real estate expert, the quality of the answers you get may vary accordingly. While there is a "town assessor", the Board of Selectmen is usually the Board of Assessors. I recall an instance several years ago when the market tumbled on residential condominiums. The BOS/BOA voted to reduce the assessment on all residential condos by 30%. Point is you have some local control. Appraisals and assessments are not the same although many use the words interchangeably. In any event they both rely on comparable properties. When you're assessing 100's of properties, there are bound to be mistakes. The assessor and an appraiser may choose different comps. If you can demonstrate why their choice was not the best, there may be a change. But you have to be able to demonstrate, not just say "My house would never sell for that" Let's say an independent appraisal costs $500. If you hire an attorney, his/her first move is to say you need an independent appraisal, and charge $500 plus $100 for a staff member to call the appraisal company. If you hire a lawyer will the fee be more or lass than the tax savings, IF you win? A Realtor friend may be able to help you find other comps if you think the assessor made incorrect choices. If you don't get satisfaction in town the NH Bureau (Board?) of Land Tax Appeals may be a last resort. Let us know how things turn out, please.