Published Date Written by Gail OberBELMONT — The town has hired the assessing company of Commerford, Nieder, Perkins, LLC to complete a full list-and measure of all taxable property.
The town's assessing office said yesterday that the N.H. Department of Revenue Administration requires every property in Belmont to be reassessed at least once every five years and 2013 is its year.
Notifications of the revaluation have been posted on the town's Website, at the U.S. Post Office and at Town Hall. Advertisements have run in local newspapers.
The town decided against a mass mailing because of the expense involved.
Already about three weeks into the assessment, the assessing clerk said there have been a few kinks with some residents reporting that members of the assessment teams have been looking through windows and/or telling people they will get a higher assessment if the assessor isn't allowed into the home.
Town officials said those complaints are being addressed with CNP. They also want residents to know that all CNP's employees will be wearing identification.
The town said it is in every homeowner's best interests to allow the assessors into their home so they can get an accurate measure of its worth. People who don't allow access to their homes cannot challenge their assessment through the abatement process.
The latest figures show that Belmont's equalization ratio is at 126 percent — meaning the town as a whole is over assessed compared to the actual recorded sales. Theoretically a house should sell for 100 percent of its assessed value and in Belmont, houses are selling well below their assessed value, driving up the equalization percentage. The DRA allows for a town to be between 90 and 110 percent of 100, which is considered perfect, or it can order a complete revaluation.
Last year, Belmont's equalization ration was 115 percent but, knowing the five-year list and measure was coming this year, the DRA didn't order the revaluation.
A town official said if will take most of 2013 to finish the revaluation procedure so the new values won't become effective until 2014.