municipality over a specified period of time. The term includes “data collection” and “data
verification”. Rev 601.15
Cyclical Revaluation means the process of combining a full statistical revaluation of the entire
municipality with a cyclical inspection process. Rev 601.16
Data Collection means the inspection, measuring, or listing of property within a municipality. The
term includes data verification. Rev 601.17
DRA-certified means a level of certification attained by a person as set forth by the ASB in Asb 300
pursuant to RSA 21-J:14-f. Rev 601.20
Executed means to transact, agree to, carry into effect, sign or act upon a contract or agreement to
perform assessing services for a municipality. The term includes “executing”. Rev 601.22
Final Monitoring Report means the DRA’s final letter to the municipality for any revaluation or
partial update. Rev 601.23
Full Revaluation means the revaluation of all taxable and nontaxable properties in a municipality,
with a complete measure and listing of all taxable and nontaxable properties to occur at the same
time of the establishment of the new base year, to arrive at full and true value as of April 1. The
term includes “full reappraisal” and “full reassessment.” Rev 601.24
Full Statistical Revaluation means the process of a revaluation of all taxable and nontaxable
properties in a municipality, using existing property data, to arrive at full and true value as of April
1. The term includes “statistical update” and “statistical reassessment”. Rev 601.25
Highest and Best Use means the physically possible, legally permissible, financially feasible, and
maximally productive use of a property, as appraised in accordance with RSA 75:1. Rev 601.26
improvement means any physical change to either land or to buildings that may affect value. Rev
601.27
In-house Work Plan means a written set of goals, objectives, processes, and timelines that the
municipality intends to rely upon to perform revaluations, partial updates, or cyclical inspections.
Rev 601.29
Listing means recording a description of the interior, exterior, and attributes of any improvements
or the recording of the description of land features and attributes. The term includes “list”. Rev
601.30
Market Analysis means the study and processes utilized to determine the response of buyers and
sellers of real estate, in a geographic area, to various data elements through the analysis of cost
data, income data, and sale transactions in the performance of mass appraisal. Rev 601.31
Market Value means the value of a property that:
3 City of Nashua, NH
Full Statistical Revaluation Contract
