Gilford Revaluation 2014Posted Tue, May 20 at 08:35am
It has been 5 years since the last town-wide revaluation was conducted in the Town of Gilford. Ideally the assessed value of your property would represent market value, (What the property would sell for as of a given date.) Over time, the real estate market changes, causing the properties assessed values to fall out of line with the market. Further, different types of properties will change at different rates. A revaluation will account for these changes in value and seek to restore equity between individual assessments.
A Revaluation is an update of all property assessments within the Town. The assessments are used to determine each property owner’s tax liability. The revaluation is designed to arrive at a fair market value for all properties within a municipality for the purpose of a fair distribution of the tax burden. The purpose of a Revaluation is not to raise taxes.
The last revaluation update occurred in 2009. In 2014 we are due for another revaluation. In order to accomplish this, the Town of Gilford has hired our current Assessor's Agents from the firm of Corcoran Consulting Associates, Inc. to do a Town Wide Revaluation.
Data on all properties is maintained by the assessor’s office. The Town of Gilford participates in a cycle program in which all properties are measured and inspected for data accuracy over a four year time period. We also inspect all properties that apply for permits on a yearly basis. A Field Review of all properties in the Town will be conducted. This will include a review of all properties for uniformity and accuracy of information.
Inspections of sale properties are conducted as part of the project. A statistical study of recent property sales allows the appraisers to establish parameters to estimate the value of each property in the community. Once the parameters/models are established for sale properties the appraisers apply these same parameters to all non-sale properties in order to approximate the market value of each property. This becomes the "assessed" value. Once the assessed value is established, a Notice of New Values will be mailed to each property owner.
Informal hearings will be conducted. Anyone with questions concerning the revaluation process or about the data on their property record card will have the opportunity to meet with a member of Corcoran’s staff to discuss their property value. The proposed values are not final until all hearings and any data or value changes resulting from the hearings are completed.
The assessors doing field work will be driving cars clearly marked with “Assessor’s Office”. They will be wearing a clearly visible name tag. If you have any questions or concerns please feel free to call the assessing office (603-527-4704) to verify the identity of anyone who comes to your property.
The Revaluation process is scheduled to begin in June of 2014. Notices are scheduled to be sent with New Values in August with informal hearings in September or sooner.