Tax season can be a daunting time for many people. Understanding the appropriate forms that need to be filed for one’s financial situation and the deadlines one has to follow can be both cumbersome and frustrating. The process can seem even more frustrating for homeowners who wish to file for a tax abatement. A straightforward timeline and a basic understanding of the concepts behind tax abatements, coupled with advice from our seasoned attorneys, will get you off to the right start.
Real estate taxes constitute some of the largest payments that are incurred each year for small businesses. Whatever a local government’s motivations may be, all property tax abatements are essentially designed to lessen the amount of taxes one pays on a parcel of land for a given period of time.
In Nashua and Windham, residents may apply for tax where a parcel of land has received too high of an assessment compared to other similarly situated property. If, after you receive your property tax bill, you believe that the assessment on your property is too high, you should first check the assessment data (available online) to see if any of the variables, such as square footage and age of the property, are incorrect. If the data is incorrect, the assessment is incorrect. Getting the assessment changed is a relatively simple process that can be resolved by contacting the Nashua assessor’s office. If the data is correct and you still believe the assessment is high, you are eligible to apply for a tax abatement—just remember that it is important to comply with filing fees and deadlines.
If you live in Nashua or Windham, a typical breakdown of filing timing and associated costs might look like this:
March 1: Applications for tax abatements of the previous year are due.
Note: if you miss the March 1 deadline you may request a “spring review,” where the assessor’s office will review your property the following year.
July 1: The first of two annual tax bills is due (July assessment multiplied by 50% of the prior year’s tax rate).
October: The tax rate for the year is calculated. This is the rate that will be used in December as well as the one that will be used the following July.
December: 30 days from the date tax bill is mailed, the second of two annual tax bills is due (December assessment multiplied by the tax rate for the year).
Co-authored by Thomas “Jay” Leonard and Laura Del Camp, WWF Law Clerk.
If you think you may be eligible for a tax abatement, or simply want to learn more about the process, please contact Attorneys Jack White or Jay Leonard in our Nashua office at (603) 883-0797
This blog is intended for informational use only. The information contained herein should not be construed as offering legal advice or a legal opinion.