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Going forward, the Bedford Assessors office is slated to update values again in 2023 depending on real estate market activity in the next two years.
Part II, Article 6 of the New Hampshire Constitution requires municipalities to assess properties at their “full and true” market value: “that there shall be a valuation of the estates within the state taken anew once every five years, at least, and as much oftener as the general court shall order.” Additionally, RSA 75:8-a reinforces the fiver year minimum valuation cycle: “The assessors and/or selectmen shall reappraise all real estate within the municipality so that the assessments are at full and true value at least as often as every fifth year…” A revaluation in this case is conducted as a statistical update.
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The tax rate changes each fall based on the total municipal and school budgets passed at the town meeting in the spring. For an estimate of total annual taxes, see the following:
Total Assessed Value / 1000 X tax rate.
E.G: $500,000 / 1000 = 500 X $17.14 (rate per thousand) = $8,570.00 annual taxes.
In a revaluation year, it's important NOT to calculate a new assessed value using the prior year's tax rate. Reassessments can have a significant impact on the tax rate, especially in a rapidly changing real estate market.
In accordance with RSA 79, Timber Tax, an “intent to cut” application, in some cases, must be completed and submitted to the Assessing Department before any timber can be cut from any property. The application can be completed by the logger but must be signed by the owner, as the owner is the person responsible for the payment of the timber tax. There can be exceptions to filing an intent to cut after an on-site review by the Assessor; the law allows for up to 10,000 board feet of logs or 20 cords of wood yield tax free per tax year, so long as the logs or wood is used for the personal use of the owner. The logs or wood cannot be sold or even given in lieu of payment for the timber cut; a yield tax would be issued if that were the case.
For purposes of land conversion (e.g., land developed for a house) an“ intent to cut” is not required if less than 10,000 board feet or 20 cords of wood are cut. In addition, the trees you may want to cut down could be what are called "shade trees" that would strike your home if they fell. In such a situation an intent may not need to be filed. It is always a good idea to check with the Assessor's Office to see if an intent is needed before the chain saw gets fired up. Applications are available at the Assessor’s office. If you have any questions, please
Bedford recently contracted with Vision Government Solutions to complete a town wide valuation update for 2021; the previous biennial re-assessment was in 2019, preceded by 2017. Prior to the two-year cycles, Bedford re-assessed all property in 2013, 2008, 2004 (full revaluation) and 1987.