City Completes Commercial Property Revaluation

 The City of Portsmouth has recently undertaken a revaluation of all commercial property for the purpose of establishing market value as of April 1, 2010.  All commercial, industrial, mixed-use, and apartment properties (of 4 units or greater) are complete and hearing notices, which includes your preliminary assessment, have been mailed.  In addition, a list of preliminary commercial values can be downloaded here (click here)  and a list is available at the Assessor’s Office.  These values reflect our opinion of the market value of your property as of April 1, 2010.  A list of commercial sales is also available for download (click here).
        

INFORMAL HEARING PROCESS

Property owners who have questions regarding the value of their property may request an informal hearing.  These hearings will be conducted by Steve Traub of Property Valuation Advisors by appointment only.  The appraiser can only discuss your specific property valuation,  please bring any information that you feel supports your position with you.  All hearing appointments must be scheduled through the City Assessor’s Office between May 19, 2010 through June 11, 2010, by calling 603-610-7249 Monday through Friday, 8:30 A.M. to 4:30 P.M. 

A copy of your property record card is available at the Assessor’s Office and will be made available at the hearing.  An estimate of the tax rate will be determined after the informal hearing process of all properties is completed in September.  At that time taxpayers will be able to estimate their tax bill by the use of a tax calculator that will be on the City’s Web.  The actual tax rate itself will not be set until October. 

FORMAL APPEAL PROCESS

Property owners who are dissatisfied with their assessments after the informal hearing process may ask the City of Portsmouth’s Assessor’s Office to review the value by filing an abatement application by March 1, 2011 with the Assessor’s Office after the actual first-half Fiscal Year 2011 tax bill is mailed in late October (payment is due by December 1, 2010).  The Assessor’s Office will review the abatement application and notify the property owner before July 1, 2011, of its decision.  Taxpayers who then wish to appeal the decision of the Assessor’s Office may file with either the State of New Hampshire Board of Tax and Land Appeals or Rockingham County Superior Court no later than September 1, 2011. 

A reappraisal of all residential property is currently underway and should be completed by August.  Announcements will be made and pre-hearing notices will be mailed to each taxpayer around the beginning of August.

 

Posted May 18, 2010