Nottingham completed their most recent Revaluation in 2015. A revaluation is an update of all assessments in the town conducted by the contracted assessor (Avitar Associates, Inc.) under the direction of the Board of Assessors. The NH Constitution (Part 2 Article 6) requires that each municipality bring values anew every 5 years, and this requirement is monitored by the New Hampshire Department of Revenue Administration Property Appraisal Division.
The 2015 revaluation updated property values to reflect current market value for the final analysis using Nottingham sales that occurred between 10/1/14 – 7/27/15.
Market value is defined as the amount of money a typical, well-informed purchaser would be willing to pay for a property in an arm’s length sale, or is also known as a “Qualified Sale” per RSA 75:1. An arm’s length sale is one where the buyer and seller are not related, are willing parties and not under pressure to sell or buy, the property is available on the open market, and payment is made in cash or has typical financing for that type of property.
Further information about the 2015 Revaluation can be found in the Nottingham NH, 2015 Valuation Update manual provided by Avitar Associates, as provided in the link below.
- 2015 Revaluation USPAP Manual - PDF is VERY LARGE. The manual provides the processes, details and documentation used by the Assessor for the 2015 Revaluation of Property Values.
- Understanding Your Avitar Property Record Card - Information to help interpret codes, notes, abbreviations and other information on your property record card.