Property Valuation
Assessed value in New Hampshire municipalities is typically set at:
A50% of market value
B100% of fair market value✓ Correct
CWhatever percentage the town selectmen decide each year
DThe purchase price at time of sale only
Explanation
New Hampshire requires municipalities to assess property at 100% of fair market value under RSA 75:1. The state Department of Revenue Administration monitors equalization ratios to ensure compliance.
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Key Terms to Know
Loan-to-Value Ratio (LTV)
The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
Math Concepts
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