Ignoring The Assessors’ Request For Information Is A Trap For The Unwary
Most taxing jurisdictions in Massachusetts will not send out their actual Fiscal Year 2019 property tax bills until the end of Calendar Year 2018. The Fiscal Year 2019 has an assessing date of January 1, 2018. In most cases the condition of the property both physical and financial and the condition of the real estate market as of January 1, 2018 is pertinent in valuing the property for Fiscal Year 2019.
Many assessors have sent out requests for information to property owners requesting information regarding the financial and physical condition of their properties as of January 1, 2018. The responses to these requests are generally due within sixty days of the request. The failure to answer a request timely will likely bar the right of a Fiscal Year 2019 tax appeal. In addition, the assessors may levy a $250 penalty for the failure to answer these requests for information.
In New Hampshire Proving the Equalization Ratio is a Prerequisite to a Valid Property Tax Appeal
A person aggrieved by his assessment may have filed a Tax Year 2017 Abatement Application with the local assessor. That Application was generally due no later than March 1, 2018. The median equalization ratio when applied to the market value can have a significant impact on the degree of merit a case has. The proper assessment of a property is generally the market value multiplied by the median equalization ratio. The market value of the property is one-half the issue and the equalization ratio is the other half of the issue. The equalization ratio is as important as the market value. At trial both the market value of the subject property and the median equalization ratio utilized by the assessor must be proven to the satisfaction of the Judge. The failure to prove both the median equalization ratio utilized and the market value of the property means no tax relief.