Every year the Town of Londonderry Assessing Department monitors qualified sales and the Londonderry real estate market in general. The Assessing Department does this to see how close assessments are to 100% of full, fair market value. For the last 5 years the equalization ratio has fallen from 99.9% in 2015 to 85.1% in 2018.
For property taxes to be as fair and equitable as possible, the assessed value of property would be 100% of fair market value. Fair market value is the probable price a property should bring in a competitive and open market, where the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. The State of New Hampshire Department of Revenue Administration requires that towns update their values at least once every 5 years so as to remain close to 100% of market value.
Qualified sales between the dates of 4/1/2018 and 4/1/2019 indicate that the sales ratio had dropped down to 80%. Meaning property sale prices were, on average, 20% higher than the 2018 assessments.
In order to comply with NH RSA 75:8-a and based on these sales studies, the Assessing Department has completed a town-wide update to all property values for the 2019 tax year. Town wide assessments have been adjusted, based on the studies of recent sales, to account for the increasing real estate market.
Property owners can view their properties’ new values online through the PDF below. Taxes can be calculated at $19.39 per thousand dollars of value, but ultimately the final taxes due for each property will be on the 2019 Final Tax Bill. You can view your Tax Bill online here.
How to Calculate Your Annual Tax Bill
Your Property Value X 19.39 = Annual Property Tax Bill
If you do not believe that the data that we are assessing you on is accurate or you do not agree with the assessment overall, you can file for an abatement. Abatements must be filed after the final tax bill and must be received by March 1st. You can find the abatement form with instructions online here or in the Assessing Department at Londonderry Town Hall Monday-Friday 8:30am - 5:00pm.