Board Of Aldermen

e Seatiimale Cee .

ye Ss

ee)

Phase 5: Informal and Formal Hearings

Phase 4: Field Review

Field Review is the method of checking and re-checking
both the values that have been determined and the data
that has been collected. During this review, properties are
viewed in the field by experienced appraisers who
double-check uniformity, equity and accuracy of
information.

Phase 2: Valuation

Phase 2: Market Analysis

A variety of resources are used to analyze the real estate
market. While the physical data is being collected by Vision
Listers, Appraisal Personnel will be analyzing property sales
taking place over the previous year to determine which
market factors influenced property values.

Once all the data is collected and reviewed for accuracy,
appraisers will determine land values and set
Neighborhoods, which set the valuation levels of locations
throughout the City as determined by actual market
activity.

Phase 1: Data Collection

The first phase, Data Collection, began the last week of
February 2020.

During this phase data collectors also known as “Listers” go

to each property and physically inspect and verify the
measurements of the exterior of each building.

Digital imaging of each property is also taking place as part
of this project.

Nashua has approx. 28,926 properties and the data
collection phase of this project is time consuming, it will
take about two years to complete.

Ree
ny aca
Boor »
P 2rd
DD. A pel
f es ww
4 we] ro at af
ay

The Revaluation Process

There are five major phases to a municipal revaluation: Data
Collection, Market Analysis, Valuation, Field Review and
Informal and Formal Appeal Hearings. During these phases
many tasks will be implemented in order to successfully
complete the revaluation.

Data Collection Market Analysis
Valuation Field Review Informal
and Formal Hearings

Revaluation Resources — City Website (cont'd)

GOV Board of Assessors Meeting 6/4/2020 (Video) Bi-Weekly Status Reports

2020-2022 Revaluation Project Update - June Perry - Vision Governmd ° Nashua NH November 03 * Nashua NH Aug 19, Status
Vi deo) Status Letter 2021 letter 2021

° Nashua NH November 3 ® Nashua NH Jan 21 status
status letter 2021 letter 2021

e 092721 status report ° Nashua NH Jan 7 status letter

e Nashua NH status letter 2021

Revaluation Resources — City Website

Home » Government + City Departments A-M > Assessing Department » 2022 Full Measure & List Appraisal and Revaluation

2019-2022 Full Measure & List Appraisal and Revaluation

Project Updates & Milestones:

***Important Update***
The City of Nashua lifts suspension of Interior Inspections for the 2020-2022

Process to Date

February 19, 2020 Finance Committee Approves Contract
February 28, 2020 City issues Data Collection Press Release

March 3, 2020 Special Board of Assessor's Meeting - startup meeting
for the Full Measure & List Revaluation with the NH DRA and Vision
Government Solutions

March 11, 2020 Bi-Weekly Status Reports from Vision Begin

March 16, 2020 Amendment to Contract due to COVID19 — Interior
Inspections Suspended

June 28, 2020 Quarterly Updates to the BTLA Begin

2022 Full Measure & List Revaluation

The Appraisal Firm of Vision Government Solutions was hired by the City a
Nashua to begin a City-wide Revaluation Project.

In accordance with New Hampshire General Statutes, the City of Nashua is AS
conducting a Full Measure and List Appraisal and Revaluation. This project isa
3 year undertaking and will finalize in September of 2022. pk.

This process began in August 2019 when the City of Nashua undertook a i
Request for Proposal in order to solicit bids from state certified revaluation © °
aay