FAQ for the Revaluation
The assessing firm of Municipal Resources, Inc. (MRI) has been hired by the Town of Charlestown to
begin a town wide Revaluation Project. The purpose of the project is to bring property assessments
uniformly in line with current market conditions as of April 1, 2021. You may have a lot of questions
about what this means for Charlestown. Here are 20 commonly asked questions, provided by MRI, to
help explain general information about revaluation process.
About the Revaluation Process
1) What is a revaluation? A revaluation is the update of property values throughout a town for tax
purposes. These property values are typically called assessments. The purpose of a revaluation is to
update, or equalize, all assessments in a town to the current real estate market values. Updating
assessments town-wide is necessary to ensure the local property tax burden is shared among property
owners fairly. The state assessment date is April 1 per RSA 76:2; “The property tax year shall be April 1
to March 31 and all property taxes shall be assessed on the inventory taken in April of that year.”
2) Who conducts the revaluation? Municipal Resources, Inc. (MRI) assessing firm has been contracted
by the Town of Charlestown to update assessments to fair market value as of April 1. Revaluations are
conducted by experienced tax assessors and data collectors who hold certifications from the State of New
Hampshire Department of Revenue Administration (DRA). Qualifications for assessors can be found in
the NH Assessing Standard Board’s rules, Chapter 300, Asb 300 Certification of Assessors.
3) Why is my town doing a revaluation? If your town is having a revaluation, the last time it had one
was likely 5 years ago. The State of NH requires each city or town conduct a revaluation update at least
every 5 years, per RSA 75:8-a; “The assessors and/or selectmen shall reappraise all real estate within
the municipality so that the assessments are at full and true value at least as often as every fifth year…”.
4) Will all property values change? Yes, most likely. The purpose of a revaluation is to update all
assessments in a town to current market value. It is likely the real estate market has changed, whether up
or down, within past 5 years since the last revaluation. Keep in mind, the real estate market may be
different for certain types of property or properties in certain areas of town. These market differences
would possibly make assessments change at different rates when compared with last year’s assessment.
5) What happens during a revaluation? Market analysis, data collection, and informal hearings are key
parts of a revaluation. For market analysis, all property sales from the last 2 years are reviewed. Sales
within 2 years of the revaluation date are considered to represent the current real estate market. To collect
the data, all sales are reviewed to see if they truly represent market value. Property inspections and
research are conducted during this phase. Sales found to represent market values become a basis for
assessments.
Once market data is collected, all other properties are visited, and details of each property are verified.
During these property visits, data collectors typically do drive-by inspections and not full interior
Sources: NHAAO commonly asked revaluation questions, NH DRA revenue.nh.gov, NH State Statues
inspections. The data collectors are checking the information on file with the town. They also check that
the updated assessments are consistent with similar or neighboring properties.
When assessments are developed, all property owners in the town are sent letters. These letters contain
preliminary assessments and information about scheduling informal review hearings. At the informal
hearings, property owners can ask questions, share concerns, and present information to MRI assessing
staff. After the hearing process, adjustments are made, if needed. Finally, assessments are finalized,
reviewed, accepted by the town.
6) Will a revaluation increase my taxes? Not necessarily. The taxes you owe will be based on the
assessment of your property multiplied by the tax rate. The tax rate is determined on the town’s budgeted
expenses for the next year divided by the property assessments for the entire town. If you see an increase
in your taxes, it is possible you were not paying your fair share before. Likewise, if you see a decrease in
your taxes, you may have been paying more than your fair share.
7) Will I be notified if there is a change in my assessment? Yes, during the revaluation you will be
notified and will be sent a letter with your preliminary assessment. Please refer to
https://www.charlestown-nh.gov/ for updates on when the letters will be mailed. If you do not receive a
letter within several days of mailing, please MRI office at 603-279-0352 or email
8) What can I do if I do not agree with my assessment? You will have a chance to review your
preliminary assessment with an MRI assessing staff member during the revaluation informal hearing
process.
If you disagree after the assessments are finalized, you can appeal your assessment after the fall tax bill is
issued. You will have until March 1 to file an appeal, in writing, to the assessing office, per RSA
76:16. If you disagree with the assessor’s decision, you may file an appeal to the Superior Court or the
Board of Tax and Land Appeals (BTLA) by September 1, per RSA 76-16a and RSA 76-17.
9) How do I schedule an informal hearing? Specific information about how to schedule an informal
hearing will be in the preliminary value letter you receive. Please refer to https://www.charlestownnh.
gov/ for updates on when the letters will be sent to property owners. If letters are sent and you do not
receive a letter within several days of mailing, please contact the MRI office at 603-279-0352 or email
General Questions about Property Assessments
10) What determines my property value? Many factors are considered when valuing real estate,
including trends in the local real estate market and regional construction costs. Details specific to your
property would also contribute to value, like the types, quality, or ages of buildings on the property.
11) How do I know if my assessment is fair? First ask yourself, “What would I expect to sell my
property for in the current real estate market?” Compare your property with similar properties that have
recently sold. Compare your property to others within your neighborhood or areas in town like your
neighborhood. Also, make sure that the data for your property on record with the town is correct.
12) If I’ve done nothing to my property, how can my assessment change? During a revaluation,
property assessments are updated to reflect value changes in the real estate market as of April 1 of the
revaluation year. Market trends and economic conditions such as interest rates can influence the value of
real estate. Additionally, law changes can affect property values.
Sources: NHAAO commonly asked revaluation questions, NH DRA revenue.nh.gov, NH State Statues
13) Will the person who inspects my property be able to tell me my new assessment? No. After your
property inspection, assessors analyze and enter all data gathered before determining a value. The data
will be entered into a Computer Assisted Mass Appraisal database which will generate a value. During
the revaluation, assessors double-check assessments for accuracy in the field review stage of the process
to ensure that your assessment corresponds fairly to that of similar and neighboring properties.
14) What will happen to my assessment if I improve my property? Improvements, or upgrades, that
increase the market value of a property typically increase the assessment. Here are some examples of
items that may increase the assessment of your property.
New structures on the property (ex. garage, shed, deck, inground pool)
Addition of a bathroom
Renovation of an unfinished space to become finished (ex. unfinished basement to living space)
Addition of central air-conditioning or fireplaces
Change in exterior siding or interior flooring types (ex. Change from vinyl to cedar shakes)
15) You mention market value. What is it? Market value is defined as the amount a typical, wellinformed
buyer would be willing to pay for a property. For a sale to be a market value sale (arm’s-length
transaction):
the buyer and seller must be unrelated and willing parties, not under pressure to buy or sell
the property must listed be on the open market for a reasonable length of time
the payment must be financed, or paid in cash, at a price typical for that property type
RSA 75:1 further defines market value as: "... the property's full and true value as the same would be
appraised in payment of a just debt due from a solvent debtor."
16) What if there hasn't been a recent market value sale of my property?
The next best evidence is the market value sales of reasonably comparable properties. These are
properties like yours in location, age, style, condition, and other features that affect market value, such as
the number of bathrooms and size of garage.
17) What if there are no reasonable comparable sales? The assessors will then consider all other
factors that may affect the market value of your property. The cost to replace your building, minus any
depreciation, plus the value of land could also be used to estimate market value. For rental properties, the
income and expenses of the real estate could be considered.
Questions about Taxes
18) Should I pay my taxes if I don’t think the assessment is correct? Yes, you should pay your taxes
on time to avoid interest, late fee penalties, or liens. If you are granted an abatement of property taxes
through your appeal, you will receive a credit to your property tax account with the tax collector or will
be issued a refund.
19) Can I get property tax relief? The State of NH has tax relief programs for veterans, those who are
legally blind and for low-income persons. Please check with the town assessing office for the applications
for these programs. You can find them online Charlestown’s website, https://www.charlestownnh.
gov/selectboard/pages/tax-card-maps or at the NH DRA website:
https://www.revenue.nh.gov/forms/exempt-credit.htm.
20) How will my taxes change because of the new assessment? Although the value of your property
affects your share of taxes, the actual amount you pay is determined by the town’s budgetary needs for
Sources: NHAAO commonly asked revaluation questions, NH DRA revenue.nh.gov, NH State Statues