Duties & Responsibilities
The Assessing Department is responsible for providing each taxpayer in Bow with a fair and equitable real estate assessment. This department administers the state statutes governing property assessments and provides oversight of all property exemptions, credits and current use programs. The Assessing Department provides real estate information to the public including property record cards, tax maps, surveys, plans, ownership records, sales and various other data.
In order to maintain accurate and up-to-date assessments, the Bow Assessing Department is conducting a cyclical review process, whereby all properties are inspected on a 4-year rotating basis. In this 2019 tax year, we will be reviewing the Northeast section of Bow, which includes below streets. Appraisal representatives from the Town will be visiting your area this winter/spring. He or she will measure the exterior of buildings upon their arrival, and if an adult is home, they will request to inspect the interior. All Assessing staff have introduction letters, photo identification, “Assessing Office” brightly colored vest and sign on their vehicle. All staff members’ vehicles are on file with the Assessing Department and Police Department.
If you are not at home or you are unable to complete the interior inspection at that time, a follow up letter will be sent to you later this spring, requesting that you call our office to schedule a more convenient time.We would very much appreciate your assistance in this process, which should only take about 10-15 minutes of your time. This is important for the accuracy of your assessment, and for the overall success of this review process.
If you have any questions or concerns, feel free to call us at 223-3973.
AUGUST 14, 2019
MONICA HURLEY, TOWN ASSESSOR
Every year the Town of Bow Assessing Department monitors qualified sales and the real estate market in general in Bow. The Assessor’s Office does this to make sure that current assessments are close to 100% of full, fair market value as required by the State of New Hampshire Department of Revenue administration.
During this most recent year of qualified sales, the overall median assessment to sale ratio dropped down to 84%. This means that sale prices are approximately 16% higher than current assessments. We are seeing approximately .3% to .4% increase per month in the real estate market in Bow. The last full revaluation in Bow was conducted in 2014. In 2014, the median sale price for a single-family home in Bow was $285,000. By comparison, the median sale price for a single-family home in Bow today is $360,000.
Based on sales studies, the Assessing Department has completed a town-wide revaluation to all properties values for the 2019 tax year. Town wide assessments have been adjusted to account for the increasing real estate market. Our analysis and subsequent valuation updates reveal the following:
118 Total Qualified sales from October 1, 2018 through July 31, 2019.
# of Sales
Median Sale Price
Median 2015 Ratio
Median 2019 Ratio
The overall increase in valuation for the Town of Bow for 2019 is estimated at $166,301,787 or 14% from 2018’s total valuation. This includes 24 new residential properties with a value of $8.2 million and 1 new commercial property at $17.2 million.
An increase in assessment does not necessarily mean an increase for property tax bills. The new tax rate for 2019 will not be set by the State of New Hampshire for Bow until late October.
Notifications of new assessment will be mailed out to all property owners on or around August 22nd.
Taxpayers who would like to meet with an assessing staff member to review their new valuation can do so by an informal hearing (phone number and times will be posted on the notification). Hearings are by appointment only and will be conducted at Town Hall the second week of September. The meeting is limited to 15 minutes per property owned and any supportive documentation (i.e. appraisals or comparable properties) should be brought to the hearing.
The assessing web page will have new values sorted by Owner Name and by Location as well as a qualified sales list used in the analysis to bring values to full fair market value. These will be posted on August 22, 2019.
Deeds Copy / Research
For an official copy of your deed, or to do research, please contact the Merrimack County Registry of Deeds located at:
1 Granite Pl Suite N100
Concord, NH 03301
Merrimack County Deeds Website