Re-Valuation Notice
For tax year 2025, all property values will be updated to market value as of April 1, 2025. This is a process that every municipality must complete as often as every fifth year and was last done in Springfield in 2020. With the real estate market escalating dramatically since 2020, most property owners will see values increase significantly. Just because your values increase, DOES NOT NECESSARILY mean that your taxes will increase or decrease.
Taxes are based on the combined budgets for the Town, school and county. The tax rate is determined by taking the total of those budgets divided by the overall taxable assessed value of the Town to arrive at a tax rate to “pay the bills”. Unfortunately, there is no way to determine the impact of the valuation update until after the values are finalized and until after the NH Department of Revenue Administration (DRA) calculates the total amount of money needed to “pay the bills”. That process takes place in the fall, usually in October, with the Town’s tax rate the end result.
Notices with the new preliminary values will go into the mail later this year to every property owner. That notice includes a phone number that you can call to schedule a phone consultation with George Hildum (Town’s assessor since 1996) or Mark Stetson (Appraiser Supervisor for the 2010, 2015, and 2020 Springfield revaluations) to discuss your assessment, should you have any questions. Also included in the notice will be instructions to access the on-line assessment database and review the information about your property and every other property in Springfield, including the sale properties that were used to help establish the new values.
If, at the end of the process, you have any further questions or concerns, they should be addressed through the abatement process once you have received your tax bill in the fall.
Submitted by:
George Hildum, Town Assessor