Filing An Abatement
Abatements are granted “for good cause shown.” Good cause can be for poverty or hardship; however, the Assessing Office cannot grant abatements for any cause other than over-valuation. If a poverty or hardship abatement is needed, the Assessing Office will help with the processing of such abatement; however, the Board of Selectmen will determine the need for such abatement.
The Assessing Office will process and make recommendations on all abatements for valuation issues. The assessed value of each property should be equal to the market value of that property. The Assessing Office analyzes market data in order to determine the market value of all types of properties. Market data typically includes sales of comparable properties, current construction costs, rental income, etc. Accurate physical data is also important as the market data is analyzed by comparisons to the physical data. Physical data includes the location of the property, the topography of the land, the type of improvements, the dimensions of the improvements, the condition of the improvements, etc.
An abatement application should address the issues that affect value, i.e. market data and physical data. Comparisons to similar properties that sold recently is the best method of estimating the market value of a property. Comparisons are made on the basis of use, location, size, age and condition of properties; therefore, it is important to verify that this physical data is correct on the property record card. Local realtors and appraisers are aware of the value of properties; their opinion is useful in determining the need for an abatement.
Should
I File For An Abatement?
If
If you can answer yes to two or more of the following questions, then you may
be eligible for an abatement?
1) 1) Is the market value of your property less than the assessed value of your property?
2) Are properties in your neighborhood, that are of similar size and condition, currently selling for less than your assessed value?
3) Are properties in similar neighborhoods, that are of similar size and condition, currently selling for less than your assessed value?
4) Is data on your property record card, i.e., building dimensions, lot size, type of property, condition of property, etc., incorrect.
5) Has an appraiser or a realtor recently told you that the market value of your property is less than your assessed value?
6) Has your property recently been listed on the market for a price that is less than the assessed value?
7) Have you recently purchased your property on the open market for less than the assessed value?
8) Are properties in your neighborhood, that are of similar size and condition, assessed for less than your property? (Note: By itself, this is not a sufficient reason to file for an abatement.)
If you could answer yes to two or more of the above questions, you may be eligible for an abatement. Fill out an abatement form fully and completely. Give specific reasons in Section E (reference the above questions) as to why an abatement is due. List all properties that you own in the Town regardless of whether an abatement is sought on that property. List all comparable properties that support your abatement appeal. Estimate the market value of the property as of April 1st of the tax year. An incomplete form will not be processed, but will be returned as incomplete. If you fail to fully complete an abatement form, you could also lose your rights to appeal to the state level. Include all documentation that would support your abatement application, such as, an appraisal, a letter of opinion, a purchase and sales agreement, a listing agreement, plans of your property, etc. The Assessing office reserves the right to request additional information it deems to be necessary in order to fairly process your appeal.
Do’s and Don’ts of Filing an Abatement
Before filing an abatement:
Estimate the market value of your property. If you don’t know the market value of your property talk to someone who does, i.e., a realtor, an appraiser, etc.
Obtain a copy of your property record card and verify all of the information on the card. Most important is building dimensions, lot size, and building conditions.
If the market value is less than the assessed value, file for an abatement.
If market value is equal to or more than the assessed value, you do not have grounds for an abatement.
Things to include on your abatement application:
Fully complete sections A, B, C and D.
Give specific reasons why an abatement is warranted and include all documentation. For example, if you have had an appraisal on the property that indicates a value lower than the assessed value, include a copy of the appraisal along with your abatement application.
Filing an Appeal
You must file your abatement application by March 1, 2000.
After filing, the Assessing Office must review your abatement application and provide you with a decision by July 1, 2000. If you have an appraisal or other documents to support your request, you should provide them to the municipality.
If the selectmen neglect or refuse to abate, you may file with the Board of Tax and Land Appeals or the Superior Court but not both. RSA 76:16-a; RSA 76:17. You cannot, however, file with the board or superior court until one of the following has occurred: 1) the municipality has given you a written decision; or 2) the municipality has neglected to respond to your abatement request by July 1 of the year following the tax year. The filing deadline is September 1 of the the year following the tax year.