What is market value and who determines my property assessment?

Market value is determined by buyers and sellers, the real estate market and the general economy. Our current assessments were arrived at in 2013 and the market has appreciated since then. The 2017 assessments were found to be at about 79.1% of market value. For April 1, 2018 we are required to bring assessments back to 100% of market value. This will mean for most residential properties they will see their assessment increase. However, not all property appreciates or depreciates at the same rate. KRT will research and analyze the values in any particular area or neighborhood to determine the 2018 market values. In effect we are placing a value on your property that we believe is representative of what you would sell your home for on April 1, 2018.

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1. The City of Nashua is undergoing a State-Required Revaluation for 2018.
2. How will the Revaluation be done?
3. The Assessor came to my house this year for data verification and my value changed. Why?
4. It seems the Assessor is at my house every year. Why?
5. Does this mean every property in the City is going to be visited this year?
6. How will taxpayers know if their assessment is equitable? And what can a taxpayer do if they feel their value is inaccurate?
7. What can a taxpayer do once they receive their December tax bill, if they disagree with their 2018 assessed value?
8. What is market value and who determines my property assessment?
9. When will the new values go into effect?
10. Will this process increase my property taxes?
11. What will the 2018 property tax rate be so a property owner can calculate their property tax amount?