Salem NH 2021 Revaluation Summary of Values Conclusions
Vision Government Solutions has completed a preliminary valuation of all the properties in Salem NH for
their 2021 Revaluation. A complete review and analysis of all properties was performed. This included
the updating of all construction costs, land values and income and capitalization rates for the
commercial properties.
Once all the sales were qualified the first step was to adjust the land curve table to reflect a base year of
2021. This was done by raising the land curve 40%. The excess land price is $7.000. Once this was
accomplished the next step was to review the land Neighborhood table and make further adjustments
to lower the COD.
After the land values were adjusted the next step was to raise the base cost rates to reflect a median
sales value for all the different styles of homes to be at 100% based on M & S cost manual and local
building rates. This was accomplished by raising the current rates on average by approximately 55%.
The starting rate on average was at $90 per SF from 2016 and it was change to approximately $140 per
SF. The next step was to review other characteristics like building size, age, quality of construction rates
to make further defined changes.
These rates and value conclusions were tested against qualified sales that have occurred from 4/1/2020
to 7/1/2021 to ensure they are at market value.
Below is a breakdown of the old to new value change by land class and residential building style. Also
included are varies sales analysis studies by land class, style and sales date to indicate that the
assessments are at 100% of market value based on a comparison of recent sales data.
Old to New Review
Salem as a whole increased 37% in value.
Land Class Residential Style
Type of Property % Change Type of Style % Change
Single Family 47% Ranch 53%
Residential Condos 50% Split Level 47%
Two Family 38% Colonial 40%
Vacant Land 40% Cape 50%
Commercial 12% Conventional 46%
Industrial 17% Raised Ranch 53%
Mixed Use 23% Modern Contemporary 42%
Bungalows 50%
