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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Happy General John Stark Day– “Live Free or Die”

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Battle of Bennington Monument

I started watching historical shows about the American Revolutionary War.  I reason it’s because I’m from New England, not because I’m getting to be that age when one starts watching the History Channel.

The commercials for the “Sons of Liberty’ miniseries really drew me in.   I even started watching the John Adams series on HBO.  Great story, and to think it was true!

Well the 4rth Monday of April is known as General John Stark Day in New Hampshire, it falls on April 27th this year.  Since 2011 this little known state holiday has been celebrated in New Hampshire.  I only bring this up because 2 key battles referenced in the miniseries are the Battle of Bunker Hill, and the Battle of Bennington.   Key battles of the Revolutionary War, and General Stark was instrumental in both.    One of his most famous quotes, and NH’s state motto: “Live Free or Die” is a stark reminder of the conviction and determination that our forefathers bore to bring forth a republic.MonumentWithAViewcrop2

JennPictureTaking

I just gotta get that shot!

I have yet to visit the Bunker Hill Monument, interestingly enough my birth name is Bunker(one day I’ll figure out if there’s a relationship).  The Battle of Bennington Monument was an accidental find.  On one of my mother/daughter weekends I did my usual, “let’s see what’s down this road.”  I go off the planned route and go back roads a lot and only Mom tolerates it.  She loves it when I stop on a dime to jump out and take a picture.

-Just my thoughts.
Jenn

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Popular Green Home Features by Generation

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This is from National Association of Realtors(c) graphic on popular energy efficient home features, with recent home buyers and segregated by generation.

Going Green

Home Buyers top choices for energy efficient homes. Click for larger view.

Number 1 overall is heating and cooling costs, which shouldn’t be a surprise.  One of a homeowners top monthly expenses, and it’s only getting higher.

-Just my thoughts. Jenn

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Townie Tuesday Picture for Pelham NH

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Here’s another Townie Tuesday picture, featuring the Pelham First Congregational Church during Old Home Day in 2013.  Every Tuesday I post a New Hampshire photo on my Facebook Page.OldHomeDay1stCongregationalChurch2013

 

Every year since 1906 the First Congregational Church organizes and sponsors the Old Home Day.  This is a fantastic community event starting in the morning with the 5k Race and Walk and ending with a community supper in the evening.  The day is filled with activities, raffles, parade, the White Elephant Table, food, kids games, and much more.

Read more: http://www.pelhamoldhomeday.org/about.html

Just my thoughts. -Jenn

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