In New Hampshire, municipalities are required to adjust property values every five years to align with market values. The tax year spans from April 1st to March 31st, with the assessed value reflecting the property's status as of April 1st. The Town of Bow employs an annual property value update program through Cycled Inspections, measuring and inspecting one-fifth of the town each year on a rotating basis. This approach, coupled with the analysis of relevant sales data, meets state requirements, is cost-effective, and prevents significant property value fluctuations that occur with a revaluation every five years.
Before inspections, property owners receive a notification from the Assessing Department, indicating a representative will be in their neighborhood. A data collector will request permission to inspect the interior of homes and other buildings, contributing valuable data to neighborhood market analysis for potential value adjustments. Properties with building permits or value-affecting changes are adjusted annually to maintain proportional assessments within the municipality.
If no adult is present during the inspection, exteriors of accessible buildings are measured, and a notice is sent for the property owner to schedule an appointment. Data collectors won't enter homes without an adult present, and it's advised to ask for identification. While allowing interior inspections isn't mandatory, it ensures accurate assessments and a successful assessment review. Failure to permit an interior inspection may result in the denial of any appeals, as per RSA 74:17.
The Town sincerely appreciates your willingness to schedule assessments, a process that usually takes about 10-15 minutes of your time. Should you have any questions or concerns, please don't hesitate to contact the Assessing Department at 223-3975. Your understanding and assistance mean a lot. Thank you for your cooperation.