Monday-Friday 7:30 AM - 4:00 PM Phone: (603) 228-1187, ext. 15 Fax: (603) 225-2982 or Click here for contact form 2007 Property Values

The Assessing Department has the responsibilities of providing the citizens of Bow with a fair and equitable real estate assessment, and the administration of the NH state statutes and programs governing property assessment. The Assessing Office has real estate information available for owners and the general public, including property record cards, tax maps, surveys, septic system plans, ownership records, sales, and various other data, offered with a high level of customer service.

Property assessment is contracted to a private company, presently Corcoran Consulting Associates, Inc., of Wolfeboro Falls. A certified assessor may be seen by appointment through this office. Carol Anne Olson is the Assessing Technician, the full time office staff member who is present daily to process deed transfers, receive various applications, make address changes, apply qualified exemptions and other forms of tax relief to the tax records, maintain the Town’s tax maps, keep building and land characteristics up to date, and provide the public with information, records access, and other services.

How can I check the ownership or assessed value of a property?

Property information is available in the Assessing Office and online. We do not mail or fax property record cards unless prepaid. For information online, go to www.visionappraisal.com, click on Online Database Access, click on New Hampshire, and then Bow. To access the database, you will need to register as a user, a quick and simple process. Please note: For the official and most current information, contact the Assessing Office.

For questions about property tax, such as the amount of tax owed or status of payment, please contact the Tax Collector’s Office at 225-2683 or 228-1187, Ext. 16.

Are the tax maps available online?

The Vision Appraisal website shows the outline of individual properties if you click on the Show Map tab when you are viewing a property. You can zoom out to see more of the neighborhood although no dimensions or other lot numbers are given. You can also get a printable abutters list by choosing a certain radius of your subject property.

More comprehensive Tax Maps are available at a different web site than the property appraisals. You can view the boundaries of properties in Bow, including dimensions, and get abutters lists, as well as see other map layers, such as prime wetlands, the USGS maps, conservation land, the location of schools, day care centers, trails, water and sewer systems, etc. Go to www.mapsonline.net/bownh. There you can enter either the address or property owner (last name first) to see the parcel. Click on “Go”, do NOT press the Enter key. This site is updated quarterly. For the official, most current records, please contact the Assessing Office.

If you find you can’t view the maps at MapsOnline, you may need to get java software. Go to www.java.com/en/index.jsp and click the “Free Download” in the upper right hand box.

I recently moved to Bow, how do I make sure the Town has my new address?

You may mail, fax, or hand deliver a change of address to the Assessing Office, please do not call. Many people will stop in the Assessing Office on the lower level to make their address change after registering their car with the Town Clerk. Registering your car or registering to vote here does not automatically change your billing address. When property deeds are processed, the owner’s address that is given on the deed, is the address that we use for billing. Please notify us if your mailing address should be different.

Are deeds available in the Assessing Office?

We have copies of deeds from 2000 to present, which are available for a nominal fee. These would not be considered official documents, however. For an official copy, or to do research, please contact the Merrimack County Registry of Deeds, 228-0101, located at 163 North Main Street, in Concord, NH, and online at:
http://www.merrimackcounty.nh.us.landata.com/default.asp. We also have deeds from 1973 to 2000 in microfiche form, which can only be viewed here, not copied.

What is Bow's tax rate ?

Here is a chart showing the Property Tax Rates per thousand for the last several years:

Why do we have a property tax?

Properties are appraised so that citizens share the cost of having schools, fire and police protection, waste disposal and other public services. It is important to keep values accurate and current so that everyone pays their fair share of these costs, in proportion to the value of their individual properties. The property tax is part of a balanced revenue system. It is a more stable source of money than sales and income taxes, because it tends not to fluctuate as much when communities have recessions. When the municipality spends your tax dollars on better schools, parks, sewers, and so forth, then you receive the benefit of increased property value.

How is property appraised in New Hampshire?

In NH, municipalities are required to adjust property values at least every five years to keep in line with market values. Accurate appraisals require constant searching for significant facts to accumulate and analyze, in order to estimate the fair market value of properties. To put it simply, for a mass appraisal (revaluation), the assessor first reviews all the property to be assessed, and then places values according to their fair market value. In addition, properties that have had changes that affect value are adjusted annually to reflect those changes, so that all assessments are reasonably proportional within the municipality. The tax year is from April 1st to March 31st.

When was Bow’s last revaluation?

The most recent revaluation was completed for the 2007 tax year therefore, those values should be close to the market value as of April 1, 2007.

To find the fair market value of any piece of property, the assessor must first know what the properties similar to it are selling for, what it would cost to replace it, how much is needed to operate and keep it in repair, what rent it may earn, and many other factors affecting its value, such as the current rate of interest charged for borrowing the money to buy or build on properties like yours. Using these facts, the assessor can then go about finding the property value in different ways, as follows:

Sales Comparison Approach: This method compares your property to others that have sold recently. Sales prices, however, must be analyzed very carefully to get the true picture. One property may have sold for more than it was really worth, because the buyer had to move quickly and would pay much more to avoid having to utilize temporary housing. Another may have sold for less money than it was actually worth, because the owner needed cash right away and sold to the first person that made an offer. When using the sales comparison approach, the assessor must always consider such overpricing or underpricing, and analyze many sales to arrive at a fair valuation for your property. Size, quality, condition, location, and time of sale are also important factors to consider.

Cost Approach: Another way to value your property is based on how much money it would take, at current material and labor costs, to replace the existing construction with one similar. If your construction is not new, the assessor must also estimate how much a parcel like yours would be worth if it was vacant.

Income Approach: This method evaluates how much income your property would produce if it were rented as an apartment house, a store, offices, for manufacturing, etc. For commercial properties, the assessor must consider operating expenses, taxes, insurance, maintenance costs, and the return most people would expect to receive on your kind of property.

CAMA: A Computer Assisted Mass Appraisal is the method that was used to conduct the 2002 and 2007 revaluations in Bow. All our residential properties are now assessed by an approach that utilizes a combination of the sales comparison and cost approaches, described as a “market-driven, replacement cost approach”. Mass appraisal requires developing valuation models representing supply and demand patterns for groups of properties, rather than a single property, whereby standardized adjustments are developed for construction quality, house size and style, neighborhoods, and other property groups, and then analyzed against sales. This data is entered into formulas and tables in the computer, which are used to help determine property values. Also, for commercial and industrial properties, a more equitable method is now used where applicable, which utilizes the income approach within the CAMA system.

 

Finding the market value of a property involves discovering the price most people would pay for it, in its present condition. More specifically, it is defined as “the most probable price in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing sufficient time for the sale, and assuming that the transaction is not affected by undue pressures.” Sales and trends must be continually analyzed, as the market values of almost everything change from one year to the next.

How do values change from year to year?

Many factors affect the real estate market. If a community builds a superb high school, families are more attracted to that community, resulting in higher values as people compete for available housing. If a community endeavors to attract business and industry, the subsequent commercial/industrial increase results in a shift of some of the tax burden away from the homeowners. The assessor has not created the value. People create value by their transactions in the marketplace. The assessor has the legal responsibility to study these transactions, and appraise properties accordingly. In addition, if you were, for example, to enlarge your home or add a pool, obviously the assessed value would be increased. Conversely, if your property is neglected and suffers from deferred maintenance, then the assessed value would be decreased. The assessor has the responsibility to review all building permits and other changes that have occurred in the past year which may affect property values. Please notify us if you remove a shed or a pool or otherwise decrease your value, so we may make an adjustment.

What if I think that my taxes are too high?

A tax rate applied to your property’s assessed value determines the amount of tax you pay. All the taxing agencies: the municipality, county, state education, and the local school district, determine the tax rate, depending on what is voted on at the Town Meeting, the School District Meeting, and what is needed to provide all the services that citizens benefit from. If you feel that your taxes are too high, you should make your opinion known to the proper taxing authorities. The assessor's primary responsibility is to find the fair market value of your property, so that you pay only your fair share of the taxes.

What if I think my assessment is too high?

If your opinion of the value of your property differs from the assessor's, we will be glad to answer your questions about how the assessed value was arrived at, and explain how to appeal if you still disagree. Without complete and precise data, however, equity is impossible. You can help by allowing in-house reviews, and providing us with accurate information.

How do I appeal my assessment?

The taxpayer may file an Abatement Application with their municipality, from the time of receipt of the final tax bill (usually in November), until March 1st of the following year. The town has until July 1st to grant or deny the application. Simply stating that your value is too high is insufficient. Gather as much information as you can on similar properties in your neighborhood. Check with a real estate broker, or use the sales record book in our Assessing Office; or you may go online at www.visionappraisal.com, to find comparable properties and check their sales prices and assessed values. Abatement application forms are available in the Assessing Office, or you may go online at www.nh.gov/btla/forms.html, and click on the Abatement Application to Municipality. Bow does not require Inventory Blanks, so check N/A on that question on page 1 of the application form.

Please Note: Applying for a property tax abatement does not mean you should postpone paying your taxes. Taxes should be paid as assessed, by the deadline stated on your tax bill, or you will be subject to interest charges. If an abatement is granted, a refund with interest will be made.

What are the grounds for an appeal of my assessment?

Municipalities may abate taxes “for good cause shown”, per RSA 76:16. Good cause is generally established by proving your property’s assessment is either inaccurate or disproportionate. You need to prove at least one of the following:

1. Items that affect value are incorrect on your property record, such as you have 1½ bathrooms, not 2, your garage measures 24x26, not 24x28, or a survey shows your acreage is different.
2. The assessed value is accurate but inequitable, because it is higher than other similar properties.
3. The assessed value is too high; similar properties have been selling for less than your equalized assessment (see below for how to determine your equalized assessment), and/or you have a professional appraisal indicating a lesser value.

Good cause can also be established by showing poverty and inability to pay the tax. If you are claiming this reason, you must state in detail why an abatement of taxes is appropriate as opposed to some other relief, such as relocating, refinancing, or obtaining some alternative public assistance.

How do I calculate the equalized assessment of my property?

To determine the equalized assessment, divide your assessed value by the equalization ratio. For example: say your property is assessed at $360,000 and using a hypothetical equalization ratio of 90%, $360,000 ÷ .90 = $400,000. This would be the equalized assessment or approximate market value of your property as of April 1 of the year with that particular ratio. The tax year runs from April 1st to March 31st. Also bear in mind that the equalization ratio is an average figure which is derived from sales that may include many types of properties: commercial, residential, industrial, vacant land, etc.

The equalization ratio indicates the relationship between assessed value and market value. This ratio is determined for each municipality every year by the NH Department of Revenue Administration, through a study of the qualified sales that occurred within the municipality during the previous year. The equalization ratios are usually made public the following Spring. Below is a chart of Bow’s recent ratios:

What kind of tax relief does Bow offer?

Bow offers exemptions and tax credits for qualified veterans, elderly, blind, and disabled resident homeowners, as well as for solar and wood heating energy systems as defined by NH statutes. These applications are available in our office, or online at: http://www.nh.gov/revenue/munc_prop/forms/prop_tax_forms.htm. The due date for these applications is April 15th. Please feel free to ask us about your eligibility for tax relief. As always, your financial information is kept confidential and returned to you.

Through the Agricultural Structures Preservation Easement, the preservation of historic barns and other agricultural buildings over 75 years old, is encouraged by granting property tax relief within a range of a 25-75% reduction in the structure’s assessment, to owners who (a) can demonstrate the public benefit of preserving their barns or other historic farm buildings, and (b) agree to maintain their structures throughout the minimum 10-year preservation easement. Also, maintaining and repairing the building will not result in an increase of its full assessed value for property tax purposes while under this easement. This application, PA 36-A, is available at: http://www.nh.gov/revenue/munc_prop/forms/prop_tax_forms.htm, and the deadline is April 15^th.

There is also a state program entitled, “Low and Moderate Income Homeowners State Property Tax Relief”. To qualify, you should have a total household income of (a) $20,000 or less if a single person, or (b) $40,000 or less if married or head of a New Hampshire household, who must also own a homestead subject to the State Education Property Tax; and have resided in that homestead on April 1^st of the year for which relief is sought. This form is available in towns on April 15^th each year, and should be submitted to the NH Department of Revenue between May 1^st  and June 30^th. This form is available online at: http://www.revenue.nh.gov/forms/low_mod_program.htm.

What do you offer for Veterans?

The Town of Bow offers a $500 tax credit for qualifying veterans, and $2,000 for service-connected totally disabled veterans. Spouses of deceased qualifying veterans can also apply for a tax credit. Applications are available in the Assessing Office or the Administrative Assistant’s Office in the Municipal Building. They are also available online at the state’s website – go to: http://www.nh.gov/revenue/munc_prop/forms/prop_tax_forms.htm. There you will find form PA 29, the Permanent Application for Property Tax Credits/Exemptions, which you can fill in online, print and mail or bring in to the Assessing Office. The instructions are on the last 2 pages of the form. If your property is in a Trust, or if you have a Life Estate, you will also need to submit a copy of form PA 33, the Statement of Qualification for a Property Tax Credit or Exemption. Also go to http://www.nh.gov/revenue/munc_prop/vetex_cr.htm for information on qualifying medals, discharge papers and other items of interest for veterans.

All of the property owners must sign the application and a copy of the veteran’s discharge papers is required. Veterans can request copies of their DD 214 or other discharge papers online at: www.archives.gov/veterans/evetrecs/index.html. The deadline for applications is April 15^th.

What is "Current Use"?

The Current Use Program is a means of encouraging the preservation of open space and the conservation of our natural resources. It is also a way to reduce taxes for qualifying properties. In return for agreeing not to develop their land, an owner will receive a substantially reduced assessed value on their property. This agreement is recorded at the county registry and actually constitutes a lien on the property. When the ownership of property enrolled in Current Use is changed, the land still remains under Current Use status. There is no “buy-out”. If the land is subdivided or developed so that it no longer qualifies, however, that portion which does not qualify is removed from the program, and a lien release tax is assessed to the present owner, based on 10% of the current market value. The property, or portion thereof, is subsequently assessed relative to market value beginning in the next tax year.

Open space land in Current Use imposes few, if any, costs on local government, and is, therefore, an economic benefit to its citizens and contributes to the stability of the tax rate. There is a 10 acre minimum (except for wetlands) to enroll in Current Use. The areas needed to support any and all buildings, driveways, septic system, underground utilities, and other improvements must be excluded, as well as the area kept groomed as a lawn. The deadline for applications is April 15th. There is a detailed NH Current Use Criteria Booklet available, which is highly recommended. For more information, please contact our Office, or you may go online to the NH Department of Revenue Administration, for the criteria booklet and application, at the following web site: http://www.nh.gov/revenue/munc_prop/propertyappraisal.htm. If you have purchased property which was already in Current Use and you are unfamiliar with the program, please read the booklet so you understand your rights and responsibilities.

The Current Use Program, however, is not a permanent land protection tool. If you wish to ensure your land remains protected for future generations, the sale or donation of development rights through a Conservation Easement is probably the most economical, proven, long-term method available. Conservation easements may be conveyed to Bow Open Spaces, the Society for the Protection of New Hampshire Forests, the NH Department of Agriculture, the New England Forestry Foundation, the Trust for Public Land, the Nature Conservancy, and other non-profit groups. Please contact the Bow Conservation Commission or the organization of your choice for more information.

I want to have some trees cut in my backyard; do I need to notify the Town?

Most timbering operations are required to file a Notice of Intent to Cut with the Town, however, if you are just looking to have some shade or ornamental trees cut within striking distance of a building, you do not need to notify us. You are also allowed to have cut 10,000 board feet of saw logs and 20 cords of fuel wood without notification, provided they are solely for the personal use of the owner (not to be resold). The same amount is allowed if you are clearing land to put in a house, provided you have first obtained all the permits required for the land conversion, including a building permit. You may also cut, or have cut, any amount of firewood used for maple syrup production, as well as Christmas trees, fruit trees, nursery stock and short rotation tree fiber. Otherwise, if you or your logger intends to harvest timber, even if you do not receive any money from the project, you are required to file a Notice of Intent to Cut with the Town. Since many departments review the paperwork, you should file about a month before you wish to start the timber harvesting. For more information, go to the following link at the NH Department of Revenue Administration, http://www.nh.gov/revenue/munc_prop/propertyappraisal.htm, and scroll down to Timber.

If I have more questions, whom should I contact?

For other questions, you may call the Assessing Technician at (603) 228-1187, Ext. 15, click here for the contact form, or stop by the Municipal Building, where the Assessing Office is located on the lower level, along with the Building and the Planning Departments. Phone calls and visits are always welcome; we are happy to assist you in whatever way we can.

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