Assessing

2025 Tuftonboro Property Revaluation

What is a Revaluation?

A revaluation is the process of updating property assessments to reflect current market values. This helps ensure that property taxes are distributed fairly based on a property’s actual value.

A common misconception is that a revaluation increases tax revenue for the Town. This is not true. A revaluation does not generate additional tax revenue. Instead, it redistributes the tax burden so that property owners pay their fair share based on updated property values.

Why a 2025 Revaluation?

New Hampshire law (RSA 75:8-a) requires municipalities to update property assessments at least every five years. New Hampshire requires assessments to be between 90% and 110% of market value to ensure fair taxation.  The overall median assessed value in Tuftonboro is currently 79.6% of the actual market value. This means that, on average, properties are assessed at about 80% of what they are selling for.

For example, if a home is assessed at $79,600, but similar homes are selling for $100,000, the assessment is too low.

Market Value

Market value is determined by the activity in the real estate market and the general economy. The value of each property is based on an analysis of the market data (real estate transfers, etc.) for the year(s) prior to the effective date of the revaluation. Market value generally means the most probable price that a property should bring in a competitive and open market, under all conditions requisite to a fair sale. It is the Assessor’s job to research and analyze the values in any particular area or neighborhood. In effect, they do what a seller would do to determine the selling price when listing a property for sale. Factors that are reviewed for each property include location, size and quality of construction, age and condition of the improvements, site characteristics, zoning restrictions (if any), etc.

Property Owners Can Challenge Assessments

The Assessing Department maintains a complete record for each Town property. Information is kept current through permit inspections, sales inspections, periodic re-inspections and exterior reviews. The records are available for review both online and during business hours at the assessing office. This information is used to develop the new assessments.  An appointment can be scheduled August 18th, September 8th, or September 15th with the assessor by calling 603-569-4539 ext. 110.  If you are unable to attend an informal review with the assessor, you may contest the value after issuance of the second 2025 tax bill, but not before, by filing a formal abatement application in accordance with RSA 76:16.   Forms are available at TAXPAYER’S RSA 76:16 ABATEMENT APPLICATION TO MUNICIPALITY

Notice:  Please do not use the current tax rate to estimate the future tax bill. An increase in property value does not necessarily result in an increase in a tax bill.

The new assessment will not reflect any exemptions and/or credits. It will include current use assessment valuations for properties enrolled in current use. Adjustments for exemptions and/or credits will be applied to the tax bill of qualifying property owners.