Manchester residents: Do you have questions about the recent property revaluation? City officials announced two new ways to get answers this week.
Concerned property owners have been calling the assessors department and other city officials since revaluation notices were mailed out last week. Single-family houses are up 46%, with a median assessed value of $304,300. Commercial property rose just 14%, with industrial sites up 21%.
On Wednesday, Sept. 15 at 9:30 a.m., Mayor Joyce Craig and Chair of the Board of Assessors Robert Gagne will host a question and answer session about the recent property revaluation, broadcast live via the mayor’s Facebook page as well as on Manchester Public Television Channel 22.
Anyone can submit questions in advance by sending them to firstname.lastname@example.org or by calling the office, 603-624-6500. Questions can also be submitted via Facebook.
An online calculator also been added to the assessors department page at the city’s website, which residents can use to estimate the potential change in their property taxes based solely on the new revaluation numbers.
“This calculator is not intended, and should not be used to determine your actual 2021 property tax bill amount,” reads a warning on the webpage.
The calculator can be found at https://www.manchesternh.gov/Departments/Assessors/Tax-Change-Calculator.
Other factors that can impact the actual/final 2021 property tax bill include:
• Your final new value, which may change during or after hearings are completed;
• Changes in appropriations (the budget) from last year to this year;
• Changes in other revenues received from all sources by the city between last year and this year (car registrations, building permit fees, license fees, school aid etc.);
• Changes in the total dollar amount of personal exemptions and tax credits granted between last year and this year;
• Calculation of the actual, final total tax base value reported to the NH Department of Revenue in November.
Manchester is required by state law to reappraise all local real estate at least every five years. The last revaluation was performed five years ago.
Gagne said in November 2020 the city’s overall property value was pegged at nearly $9.3 billion($9,296,887,624). As of Aug. 31, the estimated full market value exceeds $13 billion — a 40% increase, based on new construction and market changes.
Gagne said when the 40% increase in the tax base is applied to the current tax rate of $24.66, the resulting tax rate will drop. He said he expects it to fall somewhere between $17.50 and $18, with the rate finalized near the end of November.
Tax rates are set by the state Department of Revenue Administration.
The new assessments were determined by reviewing all permits and sales between April 1, 2020 and April 1, 2021, updated construction costs, land values and income and capitalization rates for the commercial properties, Gagne said.
The rates and values were then tested against qualified sales occurring between April 1, 2020 and June 30, 2021, “to ensure they are at market value,” Gagne said.
The value of residential condos in the city rose 52%, while four- to eight-family building units shot up 76%. The new median assessed value for duplexes is $338,600, up 64%. Three-family homes come in at $385,700 — a 61% jump.
Any property owner wishing to have their new assessment reviewed with a representative of Vision Government Solutions can schedule a telephone appointment by calling 888-844-4300 between 9 a.m. and 4 p.m. Monday through Friday or by going to www.vgsi.com/schedules, clicking on Manchester, NH Hearings and following the instructions.
Residents can look up their property’s tax value at gis.vgsi.com/manchesternh.