City mailing updated property assessments following citywide valuation

posted on 11/8/2024

The City of Dover's Tax Assessment Office has completed its annual review of property valuations and is mailing updated valuations to property owners whose valuations changed in the past tax year, which will be delivered next week.

The city's overall assessed valuation for the 2024 tax year increased by $674,892,040 to $6,647,662,770, an 11.3% increase over the 2023 tax year, comprised of three categories: residential, commercial and industrial, and public utilities.

Overall residential assessed values increased 14.8% to $4,913,795,170. Overall public utility valuations increased 15.9% to $126,242,000, and overall commercial and industrial properties valuations increased by 1.6% to $1,607,625,600. The commercial and industrial category includes apartment complexes, which increased by 5% to $350,953,100. General commercial and industrial properties, excluding apartment complexes, increased by 1% to $1,090,142,070.

The average single-family residential assessment increased by $66,917 to $580,809, a 13% increase. The average commercial assessment, including apartment complexes, increased by $11,427 to $1,632,107, a .7% increase. The valuations for all properties in the City of Dover will be published in the Tax Year 2024 List of Assessed Values report that will be available next week at https://www.dover.nh.gov/government/city-operations/finance/tax-assessment/assessment-reports/.

Residential valuations make up 73.9% of all valuations for tax year 2024. Last year, it was 71.7%. Commercial valuations make up 24.2% of all valuations for this year, compared to 26.5% last year. Public utility valuations are now 1.9% of overall valuations, compared to 1.8% last year.

The updated assessments will be reflected in the upcoming 2024 property tax bill. The City of Dover's tax rate has not yet been set by the New Hampshire Department of Revenue Administration but is anticipated to occur around late November/early December. Once the tax rate is certified, the first half of the property tax bill will be printed and mailed to property owners.

The city annually reviews and updates property assessments to market value to ensure equity in the tax base across the various property classes, such as residential and commercial. Property taxation fairness requires properties to be assessed based on their market value. Real estate values naturally change due to market conditions, and rarely at the same rate or for the same reason. The Tax Assessment Office’s citywide revaluation includes a comprehensive review of real estate market changes that affect property values. In addition, assessment staff inspects and reviews about 20% of all properties annually on a rotating basis. As stipulated by state law, property valuations reflect market conditions as the property existed on April 1, 2024, the first day of the 2024 property tax year in New Hampshire.

Property owners may appeal their property tax assessment for the 2024 tax year by filing an abatement application with the Tax Assessment Office by March 1, 2025. Please note: filing an abatement application does not stay the collection of taxes, and taxes should be paid as assessed. If an abatement is granted, the city will issue a refund with interest.

For more information about the updated assessments, or if you are a property owner and did not receive the letter, contact the Tax Assessment Office at 603-516-6014 or visit the office at City Hall. The office is open Monday through Thursday, from 8:30 a.m. to 5:30 p.m. and Fridays from 8:30 a.m. to 4 p.m. You may also visit the Tax Assessment page, https://www.dover.nh.gov/government/city-operations/finance/tax-assessment/.