Property Assessment Data 2003 & 2004
2005 Tax Rate: $13.45
Important Information - Please Read
RE: NOTICE OF CHANGED 2004 PROPERTY ASSESSMENTS – TOWN OF HOLDERNESS
Dear Holderness Taxpayer,
As you know, the Town had a full revaluation of all properties last year. The Town has committed to keeping assessments current with market value from that point forward in order to protect that initial investment and to do away with the need for periodic full property revaluations (5-10 years). This year assessments were adjusted upward to reflect current property market activity.
This year (2004) the Town is slated for a full assessment review by the New Hampshire Department of Revenue Administration (NH DRA). Each city and town in the State must undergo this assessment review process on a 5-year rotating schedule. The NH DRA will review the manner in which we administer assessments, exemptions, abatements and all the various activities that an assessment office undergoes. They will issue a report to the Commissioner and the Town on their findings some time in early 2005.
The most important item the NH DRA will review is our assessment-to-sales ratio. The ratio represents the relationship between market value based upon property sales and assessed values. For example, last year our assessments were at 100% of full market value as a result of the full revaluation. Since then, the market has continued to escalate for most all properties - had we not performed an assessment update, our ratio would have fallen to 85% of market value for 2004.
The NH Assessing Standards Board (NH ASB) has set the standard acceptable ratio range from 90% to 110% of market value. In other words, had we not performed this assessment update, we would have failed that part of the NH DRA assessment review for 2004. Because we performed the assessment update, we will be in compliance on this important measure. Our assessment ratio will be in the 95% to 100% range this year.
Beyond the assessing requirements of the State however, the Board of Selectmen has determined that it makes sense to keep assessments current each year. Doing so mitigates the broad shifts in property taxes associated with periodic full revaluations by moving them incrementally each year if required.
The assessment reflected on your tax bill represents full market value for your property as of April 1st of this year. If you believe that the assessment exceeds full market value you may complete an abatement application available from the Town Office no later than March 1st of 2005. You must be able to demonstrate how the 2004 assessment exceeds market value.
The entire 2003 and 2004 property values are available on the Town’s website: Holderness-nh.gov. Just click on "Property Values" found on the lower right side of the home page to find the property values.
Payment of your property tax bill is due on December 13, 2004.
If you have further questions, please call the Town Office at 603.968.2145.
Respectfully,
Holderness Board of Selectmen
Steven Huss, Chairman
Samuel Laverack, Vice-Chairman
Barbara Currier
Peter Francesco
Peter Webster