How Is An Equalization Ratio Used In NH Property Tax Calculations?

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Reconcile

First, what is it? “Equalization is the process where the state makes adjustments to each municipality’s locally assessed values to calculate the estimate 100% value of the municipality.” NH Dept. of Revenue Administration

Simply put, it helps adjust your real estate’s assessed value to meet the current market value.   Sometimes the assessment may not be up to date.  Your town assessor determines what your real estate is valued at using different techniques than an appraiser.  It’s not updated as quickly as the real estate market changes and why the assessment ratio is needed.

So to balance out the difference, and bring the assessment up to market value, the ratio is applied and that value is used to determine your total property tax…not the assessment value.

Total Assessed Value (AV)
Total Market Value (MV)
= Equalization Ratio

If the town is at a 100% equalization ratio, then the Assessed Value is what’s applied to the tax rate.

You can find the equalization ratio’s by municipality on the
Department of Revenue Administration’s website:

2015 : http://revenue.nh.gov/mun-prop/property/equalization-2015/index.htm
2016’s will not be done until early 2017, after all the tax rates are determined: http://revenue.nh.gov/mun-prop/property/equalization-2016/index.htm

-Just my thoughts, simply.  Jenn

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Is spring the best time to list your house for sale?

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When does the spring market start?

When does the spring market start?

While spring typically has the most closings, it is not necessarily the best time to LIST your house for sale.  The graph below shows a 1-year history of properties for sale, sold, and new listings on a month to month basis in the Nashua region (Nashua, Hudson, Hollis, and Merrimack).  The red arrow points to the new listings on the month just before the inventory grew. The green arrow is when home closings where highest.

The best time to list a house for sale.

Nashua, Hollis, Hudson, Merrimack Sales History

Nashua, Hollis, Hudson, Merrimack Sales History

A large increase of homes came on the market in March(red arrow), which equates to more competition for a house listing.  The months from May to August you see closings (green arrow).  Since the time for a real estate transaction, from new listing to closing, can typically take 60-120 days (2-4 months) it makes sense the best time to list is the 3 months prior to the peak in closings.


So when is the best time to list a home for sale? The chart says: March through May, with early March being the tops. The market slows down considerably in August, so keep that in mind. This cycle is typical in New Hampshire.


-Just my thoughts. -Jenn

 If you would like a free market analysis of your home please fill out the form below.

The Nashua area real estate market. Merrimack real estate for sale. Hudson home for sale.

 

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