Annual report of the Town of Hampton, New Hampshire

1998 ASSESSOR'S ANNUAL REPORT
The 1998 Tax Year has been a very busy and productive year for the
Assessor's Office. Low interest rates and a thriving economy has created a
situation where many taxpayers have been either refinancing their existing
mortgages, upgrading their properties or purchasing new and existing homes.
The volume of qualified property sales was over 600 this year with an
average increase in sales prices of 15% over the 1996 levels. Due to this
situation, a total update of property values is underway for the 1999 Tax Year.
Property assessments will be increasing in varying neighborhoods between 1 0%
and 25%.
Sales of properties in the neighborhoods will be the basis for these
increases. Our goal is to try to keep a ratio of between 90 and 100% and to
have good equity amongst the different neighborhoods. Since we are doing
field reviews of the property record cards, the new assessments will not be ready
until the second tax bill in 1999.
We've also been adding to the capabilities of our existing GIS mapping
program "Arc View". Buildings and zoning districts have been added to the
new tax maps this year. We will also be adding the flood zones and queries to
the program this year. We hope to be able to add topographical data next year.
TAX RATE STATISTICS
$121,077 in expenditure can change the rate lOe'
5,687,019 in assessed value can change the rate
1
lOc
LEASED LAND UPDATE
The Town still has 65 lots of leased land. There hasn't been alot of
activity this year. However, there will be an article at Town Meeting to do away
with the availability of a Town Financed Mortgage.
This process has shown to
be a major hassle with the banks selling our mortgages to companies that don't
know the process.
The lots can still be purchased, by the lessee only, at 100% of market
value. You can look at the Trustees of Trust Fund Report to see the revenues
from the sale of leased land.
Robert A. Estey, Assessor, CAE, CNHA
Angela L. Boucher, Deputy Assessor, CNHA
Arlene Mowry, Assessors' Assistant
-70-