"Real liberty is neither found in despotism or the extremes of democracy, but in moderate governments.
Alexander Hamilton

Saturday, July 25, 2015

Preliminary Property Values for 2015

As per the TA's weekly report of July 13th 2015 " The initial indication is that the overall valuation is up roughly 1% over 2014. Initial indication is that about 25% of property values went up, 45% stayed the same and 30% went down. However, this is a preliminary indication only and subject to change based on my review of the values, continuing analysis and the results of informal hearings. The hearings are scheduled for August 4-10. After the Tuesday review, any further changes will be made and then letters listing preliminary values will be mailed to taxpayers. Property owners will be able to schedule an informal hearing either by calling Vision or scheduling an appointment on-line through Vision. Vision will hold the hearings at Town Hall along with holding phone hearings for those who cannot attend in person, and also review of correspondence sent to me with pertinent information before the hearing dates. "
My property was one of the ones that went up and  by 7%. Somewhat surprising considering that sales around the village area have been fairly stagnant and two neighboring homes on the market have not sold in the past year or so.
As a follow up to a previous post, the old State Police/School House on the little pond in the village was purchased by the Moultonboro United Methodist Church. That is good news. The building is currently being used by another church and I'm sure that  the MUMC will find a good use for the property. Wouldn't it be great to see people ice skating on the pond in the winter?

9 comments:

Anonymous said...

Blogger, 7% is low. Vision wanted to increase my waterfront property 30% in 2010. That would have been based on 2009 when nothing was selling. Turned out there weren't enough qualified sales so 2 years of data was used and mine went up 15%. Three neighbors only went up 5%. This was a huge issue with a band of owners in a similar situation. The town had several hearings. I can point out several inequities in my neighborhood such as a two stalled poured concrete boathouse valued at only $34,000 but it is next to impossible to get them corrected. You are not allowed to complain about someone else's assessment, only your own. This all took place before your time on the BOS.

Town Hall Junkie said...

Our assessed values do NOT follow our real world. Most likely there are not good comparisons available, as very little is selling. My neighbor, waterfront, just took $ 1 million for a house assessed $ 1.8 million, and listed for 3 years, starting at $ 2.4. 5 years ago, all waterfront was over $ one million, Now many homes are listed in the $ 700,000 range....for waterfront. How much longer will town governance sit by and maintain all is well with real estate values? If we had good data, and good sense, we would adopt a more cautious capital spending program. Does anyone believe our real estate values are increasing?

Anonymous said...

My building value increased 10%, yet we have made zero changes to the property. Data used by Vision is not on line...thus unavailable. So we have to make an appointment. Using their database, I could not find any sales of my type of house structure. So how can they increase values. Again, property sales values are going down, not up. Despite lakefront lots selling low, Vision never seems to adjust values. I also know of neighbors who did not get assessed for certain things that were hidden by snow when they did their site reviews. Data should be made available on line.....Sales data still not posted for us to review. Seems they like to hold data close and not disclose it. I have never believed they do a good job, yet we seem to love them. Saying overall assessments are up 1% is plain wrong. When will the BOS really dig into the facts??????????

Anonymous said...

Town officials love Vision since assessments increase rapidly and then drop very slowly just like the price of gasoline. Our town was the fifth or sixth town in NH to utilize them back in 2004. Now there are around a hundred that do so.

More waterfront traditionally made for a more expensive lot. Everyone knows that but Vision. My neighbor has twice the frontage that I do but my lot is slightly larger so mine is assessed higher. My lot is old and extremely deep. It does not meet the 4:1 ratio and would not be approved today.

The town is split into assessing neighborhoods. Vision has pressed to reduce the number of neighborhoods because as it stands they have to track sales, etc. for more areas thereby creating more work. They did the same thing in Laconia. Another poster complained that there was no comparable sales information available. My opinion is it is missing because you will find that the sales data used to change your assessment is based on sales miles away. The town is a very large place composed of many area with unique characteristics.

I look through the real estate brochures and am simply amazed at what my current assessment will buy. Do I want to move? No.

Joe Cormier/jcormier2@myfairpoint.net said...

You can play with the following links, and see if helps a bit, and come up with your own "comp" value. Something to go to the "hearing" and defend your position.

http://gis.vgsi.com/moultonboroughnh/Search.aspx

... go to the "Sales Search"

http://gis.vgsi.com/moultonboroughnh/Sales.aspx

... or try the "Street Listing"

http://gis.vgsi.com/moultonboroughnh/Streets.aspx


The BoS are not experts in everything ... said the spider to the fly!

The BoS have no more expertise in this, than they have in setting tax rates. Individual BoS members might think they do, but a whale has a blow-hole as well!




Anonymous said...

At least they can do is require the posting on line of the sales data NOW that was used in the update.

Anonymous said...

The sales data used may be posted after the fact. The sales data used for 2014 is available on the Assessor's Department website. The State allows a range of 90% to 110% which means you can be almost 20% higher or lower than a similar property.

Anonymous said...

In the end, Vision needs to support their calculations.....it is math, not whim. They have the sales data already summarized. So post it now. No reason not to. This is not a shell game.

Anonymous said...

Blogger, you might ask the assessor to explain your assessment card to you. See if he can tell you which sales impacted the fifty or more factors on your card resulting in your 7% increase in value. For example, a number of colonials may have been sold above assessed values so Vision increases the colonial style factor or houses with 4 bedrooms are selling above assessed values, etc. I doubt that he will be able to point to individual sales and say they were comparable to your property. The bottom line is Vision is allowed to arrive at values within a 20% range (90 to 110) and as long as the standard deviation of the assessed to actual sales prices isn't too bad, the DRA accepts the values. Assessments have little to do with reality. It is strictly a statistical exercise.