Selectmen approve new contract with Vision Appraisal Technology

Selectmen signed on Wednesday a new $40,000 contract with Vision Appraisal Technology, Inc., the Northboro, Massachusetts firm that conducted a total revaluation of the town's real property in 2003. The new agreement, which in concept was part of a plan accepted last month by the New Hampshire Board of Tax and Land Appeals (BTLA) to bring the town into compliance with state standards, calls for the firm to begin work by May 20, 2005 and to conclude by no later than September 15, 2005.

As a part of the agreement, Vision will conduct and measure a list of approximately 170 sale properties to develop an accurate data base of current values which can be utilized to update assessments on all taxable and exempt real property located within the town, of which there are an estimated 2,384 items and parcels. In accordance with BTLA and the N.H. Department of Revenue Administration (DRA) specifications, Vision will create new cost/market land and building model tables to reflect desired ratios, medians and Coefficients of Dispersion, enabling it to accurately calculate new values that will bring the town into compliance.

Valuations will be made effective as of April 1, 2005, to enable the town to meet its scheduled assessment review by DRA for the tax year 2005. In addition, the firm will generate and mail final valuation notices to all property owners, provide abatement valuation recommendations, and offer five days of litigation support in defense of its valuations.

It was last month that the BTLA approved the town's plan for bringing its valuations into compliance with state standards, ending its nearly two-year oversight of the town's assessment process. A key component of that plan was the town's commitment to contract with Vision for an update on its 2003 work. Voters had approved at Town Meeting in March an appropriation of $40,000 to cover the cost of the contract.

Patsy Wells, chair of the board of selectmen, indicated Wednesday that she was confident that the scope of the work proposed in the contract with Vision would satisfy the BTLA and DRA. "One of the concerns expressed by the BTLA was providing greater transparency in the process," she explained, indicating that the process outlined in the agreement with Vision would effectively address those concerns.

Once the new valuations are mailed to property owners selectmen plan to schedule hearings on abatements and challenges to the assessment figures as quickly as possible to ensure that the final figures can be provided to DRA to set the tax rate so that tax bills can go out on time in December.

Town administrator Bruce Kneuer expressed confidence that Vision's September 15 completion date specified in the contract would enable the town to meet that timetable.