Assessors
Northtown Associates
Jefferson, NH
2024 Albany Assessing Report and
Notice to Property Owners
The New Hampshire Constitution mandates that property assessments must be “taken anew once in every five years.” Thus, in 2025, the Town of Albany is required to update all property assessments to market value (RSA 75:1). The revaluation process involves first carefully reviewing and analyzing all valid sale properties occurring over the past few years. Land and building tables are then updated after identifying and recognizing changes in the market since the town’s last update in 2020. Finally, the town’s assessing system will be re-calibrated to bring all assessments to market value for the final 2025 tax bill.
It is well known that the Albany real estate market has improved dramatically over the past few years. Supply and demand play a large role in any market and inventory has been historically low, which has helped increase sale prices. Inflation in materials and labor also play a large part in increased building costs. These factors are especially true in the residential market, which is the largest class of property in town, but the escalation in the market has been shown amongst all classes of property.
The fall 2025 tax bill will be based on new assessments and a new tax rate. Keep in mind that changes in the town, school, county, and state budgets are usually the largest factors influencing a property’s tax bill from year to year. If the various budget components increase, overall taxes must increase. Following years of extra state and federal aid, the school, town, and county are all dealing with the end of many generous Covid-related programs. Please understand that the first tax bill of the year is simply one half of the previous year’s total tax bill and any change in overall budgets is made up on the second bill.
Along with Albany’s normal assessing updates of new construction, deletions, subdivisions and other land changes, the town’s assessing company will be making visits to recent sale properties and many other properties that have not been recently reviewed. Properties with recently completed building permits, demolition, subdivision, and other development will not necessarily be revisited. However, many other properties throughout town have not been visited and inspected for a number of years. When an appraiser visits a property, the exterior of all buildings will normally be measured and new photographs are taken. Brief interior inspections are usually requested to review condition, quality, functional utility, and other important building details.
Current use properties: The town began a review of its current use records in 2024. For those properties under forest stewardship, if the town does not have an updated forestry plan or CU-12 form signed by a forester within the last five years, the land will revert to regular forest current use values. Forest and farmland classifications will also be reviewed along with those properties receiving the current use recreational adjustment. If land is posted at any time during the year, it cannot receive the 20% recreational discount. Most current use properties do not have forest stewardship or recreational adjustment. For more information about current use, see https://www.revenue.nh.gov/current-use/booklets.htm.
If you have questions about the 2025 revaluation/assessment update, please call the town office. The town’s assessors carry identification and their vehicles are on file with the town office and police department. We appreciate your cooperation as we complete this important task.
Northtown Associates and
Albany Board of Selectmen