KRT, the town’s contract assessor, told the Plaistow Select Board on Monday, Aug. 11, that a statistical revaluation covering sales from April 1, 2024, through March 31, 2025, produced preliminary assessed values that raise the town’s total assessed value by about 42 percent. Kevin Lean, an appraiser with KRT, said single-family homes rose about 46.7 percent and condominiums about 42.7 percent.

The revaluation matters because local property tax bills are derived from the town’s total assessed value and the tax rate set later by the town, school and county. "What you're looking at is the pot of money that we need to raise," Kevin Lean said, explaining that a higher assessment base can be offset by a lower tax rate when officials set the rate.

KRT said it analyzed only "qualified sales" — arms‑length transactions between willing buyers and sellers — and excluded family sales, short sales and foreclosures. Lean said the firm updated land schedules, building schedules and depreciation and calibrated the town’s computer model to market data as of April 1, 2025.

Town Manager Beth Colby confirmed that KRT took over contract assessing services on March 1, 2025, and that a separate utility appraisal is being completed by a different contractor so the town can finish the MS‑1. Lean said KRT will mail preliminary impact notices to all property owners this week. Property owners will be able to call KRT and the town for roughly 10 business days to request a phone hearing; in‑person hearings will be scheduled depending on demand.

The contract specifies remaining work will be completed by Sept. 19, 2025, and Colby told the board the tax rate will be set later in the fall (the board discussed an October timetable). Lean said the town’s median ratio for 2024 — the DRA (New Hampshire Department of Revenue Administration) measure comparing assessments to market value — was about 71.4 percent; the revaluation’s preliminary results put the town near 97–98 percent of market value, which KRT said is within the DRA target range of roughly 95–105 percent.

Board members asked for additional breakdowns KRT did not have on hand at the meeting, including how many commercial sales qualified for the study; Lean said he would provide that information to the board after the meeting. He also explained that because there were few vacant‑land sales, KRT used land residuals (sale price minus building improvement value) to estimate land values.

Next steps: impact notices will be mailed this week; KRT will accept supporting documentation by email or fax, hold hearings and make data changes as warranted. Once KRT and the utility appraiser finish their work, the town will complete the MS‑1 filing; Colby said the town may seek an extension if necessary before the Sept. 1 deadline. The Select Board did not take a formal vote on the revaluation at the Aug. 11 meeting.