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City of Concord Sales and Assessment DataReal Estate Prices are Down but Assessments are Up! Why?The numbers from the NH Association of Realtors for single family homes in Concord reflect the following:
2005 Median Price - $253,000 How could assessments go up by our "professional" assessors when prices are going down by 9%? Why not pretend the Dow Jones Industrial Average is at 12,000 when it is really at 8,000? It is time Concord's Assessing Department uses real numbers - not phony ones. Now the numbers...
2008 Sales/Assessment DataThe tables below represent all of the sales of 244 residential real estate transactions in Concord for 2008 along with the city's assessment of the properties for 2008. (We exclude the 9 new houses that came on the rolls last year because they weren't previously assessed.)Only 22% of the sales exceeded the assessment (53 total homes). Thus 78% (182 homes) were less than the assessed value because real estate prices have gone down. How then can the City Assessor, Kathryn Timchack, have increased assessments for Concord? She did it to keep the tax rate per thousand dollar assessment from going up while real estate prices dropped. More realistic assessments are clearly called for. Work with us for better assessing practices at City Hall!
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