Value of waterfront down, except for properties worth $2M or more

MEREDITH — Other than waterfront properties on Lake Winnipesaukee worth more than $2 million each, all classes of property diminished in value when the valuation was updated in anticipation of setting the 2013 property tax rate.

Assessor Jim Commerford reported that the aggregate taxable value of the town decreased by $116,115,857, or 6.25-percent, from $1,858,056,791 in 2012 to $1,741,940,934 in 2013. The percentage change was consistent with the 2012 assessment ratio, which measures assessed values against market values, of 106.1 percent.

While the value of all waterfront properties dropped 4.6 percent, properties on Lake Winnipesaukee valued at more than $2 million appreciated 11.9 percent, their steepest increase since values were last updated in 2009. By contrast the value of all property on Lake Winnipesaukee fell 5.3 percent, with those valued at less than $1 million experiencing the sharpest decline of 9 percent while the value of properties valued between $1 million and $2 million slipped just 0.2 percent. The value of island properties on the lake slid 3.5 percent.

The value of properties on Lake Winnisquam declined 1.8 percent, on Lake Waukewan 2 percent, on Lake Wicwas 4.7 percent and Lake Pemigewasset 12 percent.

The value of single family homes dropped 9 percent, condominiums 5 percent, and multifamily dwellings 5.4 percent. Manufactured housing units in parks suffered the greatest loss of value — 30-percent.

Commercial and industrial property depreciated by 3.2 percent and vacant land fell 17 percent in value.