How are property taxes assessed in New Hampshire?

Property taxes in New Hampshire are assessed based on the property's assessed value, which is determined by local municipalities. This process involves evaluating the property's characteristics, including its size, condition, location, and any improvements made. Each municipality has assessors who gather data and conduct assessments regularly to ensure that the property values reflect current market trends and conditions.

This method allows for a fair taxation system where property owners are taxed based on the value of their property rather than arbitrary measures such as income or purchase price. This ensures that longstanding residents and new buyers alike contribute to the costs of local services, such as schools and infrastructure, in proportion to the value of their real estate holdings.