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The original item was published from 10/14/2020 11:29:58 AM to 11/4/2020 11:11:38 AM.

News Flash

City of Lebanon News

Posted on: October 14, 2020

[ARCHIVED] 2020 Revaluation Information

Assessing Department News

As required by the NH Constitution, the Assessing Office has completed the update of all property values for the April 1, 2020 assessment. A revaluation of property takes place in Lebanon every 5 years.  Since the City’s 2015 revaluation, real estate market value changes have resulted in assessments that were approximately 20% below market value. By state law, real estate values must be assessed within 10% of full market value. The 2020 assessments represent our best estimate of the fair market values of properties at a 100% assessment level. 

Value Change Notices have been mailed to every property owner in Lebanon. The letter provides a description of the difference in assessed valuation from the most current value of your property to the reassessed value. Also included is information on the process for scheduling an appointment for an informal hearing so we may hear your concerns/questions relative to the new value. Please review the letter and contact us with any questions or to schedule an appointment.

The updated valuation for the entire City has been calculated and sent to the New Hampshire Department of Revenue Administration for review. Once completed, they will set the new tax rate. We are anticipating the new rate to be set in early November. The new assessments and resulting tax rate will be reflected in the December 2020 tax bill. Please do not apply the current tax rate to your new assessment as it will not be correct. Once the new rate is set, we will post it to the website.

The full revaluation of each individual property in the City has been made available for public review. The first report lists properties by location (property address) and the other lists properties by their identifying Map & Lot Numbers.

Please call the Assessing Office at 603-448-1499 with any questions.

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