Special Bd. of Aldermen — 02/27/2017 Page 13
Mr. Griffin
We haven't thought that far out but we do know that the more and better information that we can get out to the
public the better we’re going to be.
Alderwoman Melizzi-Golja
Okay so | would anticipate like copies of it would be at the library, the senior center, other places, the bus
stations, other places people might go looking for information here at City Hall.
Mr. Griffin
Special Bd. of Aldermen — 02/27/2017 Page 12
Alderman Jette
So doing the income approach on commercial property, how do you obtain the information that you’re going to
basing this on? Are the owners compelled by law to provide that to you?
Ken Rodgers
Unfortunately they're not. We sent out income and expense requests and we do get a pretty decent return.
We're probably not going to get all of them but we can fill in the holes. | think NH is one of the only States in
New England that doesn’t require it to be sent back.
Special Bd. of Aldermen — 02/27/2017 Page 11
the law requires that we complete this by 2018 and this type of study would require more time, why can’t we
meet our statutory obligation but start the process to do the complete re-evaluation if that’s what we should be
doing. Then we will have met the next five-year requirement and we will have done it property.
Mayor Donchess
Special Bd. of Aldermen — 02/27/2017 Page 10
Alderman O’Brien
Thank you Mr. President. I’m looking at page 12 and one of the things is conduct informal hearings after you
get done with your evaluation. Can you touch base and just expand on that what the average taxpayer if he’s
in conflict with what you came up with with the evaluation. Can you just go over so that the public could know
what the process is, what is the hearing type of about so that they can understand what we're trying to do here
please?
Ken Rodgers
Special Bd. of Aldermen — 02/27/2017 Page 9
Ken Rodgers
If you were to get a bank appraisal to refinance, that appraiser is just going to look down a few loans. They
won't even go back a full year. So when we're building a computer model for mass appraisal, we’re going back
an entire year to get the largest samples that are possible.
Alderman Jette
Special Bd. of Aldermen — 02/27/2017 Page 8
Alderman Jette
So using the income approach for commercial property is that different than what we’re doing now and what
we’ve done in the past?
Ken Rodgers
Yes | don’t think they’ve ever analyzed the income. Ina city as large as Nashua if a person is going to
purchase a property, they’re going to want to look at the income stream of that property and that’s really the
driving force of why they would consider it. Right now | think the only approach that they’re using is the cost
approach.
Special Bd. of Aldermen — 02/27/2017 Page 7
vacancy rates. We'll analyze those to develop a net operating income and we'll capitalize that to develop a
valuation for the property. It’s typically commercial and industrial properties and apartments over five units.
Special Bd. of Aldermen — 02/27/2017 Page 6
Alderman Tencza
Thank you. So the last time the full measure and list was done in 1991/1992 but if | remember correctly you
were Mayor at that time as well.
Mayor Donchess
It was implemented after | left office.
Alderman Tencza
Okay. So what has been the method that the city has used since then and has it had an effect on what the
assessed values are today?
Mayor Donchess
Special Bd. of Aldermen — 02/27/2017 Page 5
Attorney Bolton
These are the ranges that DRA requires you to meet when you do the process we’re discussing.
Alderwoman Kelly
So | guess my question is why not just go to 90 instead of 100? 90 is the lowest right?
Mayor Donchess
| think if you said you were doing that, you’d have DRA problems.
Attorney Bolton
Special Bd. of Aldermen — 02/27/2017 Page 4
