Quote:
Originally Posted by lawn psycho
This assumes that is how Alton does their tax assessments. It seems it depends on the municipality as most small towns probably don't have the resources to get a site assessment and then update the appraisal value on a real-time basis. If you do it for one, you have to do it for all.
Another issue is the Town can not pro-rate their annual budget in the middle of the fiscal cycle.
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Alton has a full time professional assessor who does annual updates based on the prior year+ of sales data. Updates are done on classes of property types so some classes may warrant update based on sales data while others classes may not. All assessments, by NH law, are as of April 1st.
The annual town + school + county budgets (less non property tax revenue) determine the total amount to be collected in property taxes. The property assessment process determines how the total bill is split up. If another person pays less, you will pay more.