The equalization year is from October 1st of the prior year to September 30th of the current year in accordance with RSA 21-J:9-a I (e.g. the 2016 equalization year was October 1, 2015, to September 30, 2016). RSA 21-J:9-a III (b) allows the DRA to include arm’s length sales for a period of up to 2 ½ years prior to April 1st of the year for which the equalization study is being conducted. This would generally occur when sample sizes are small or it can be determined that the sales are unrepresentative of the property within the municipality. The sales will be added in six month increments until at least 20 valid sales are available to conduct the ratio study for the municipality.
For the new Equalization system, the data streams that feed the process are being abstracted electronically, directly from the source.
Real Estate Transaction Information
Real estate transaction information is obtained directly from the 10 County Registries of Deeds on a monthly basis. Data abstracted from the registry includes:
Supplemental Real Estate Transaction Information
Supplemental information about real estate transaction is abstracted from the DRA PA-34 form which must be filed by the purchaser of real estate. Data abstracted from the registry includes:
Municipal Computer Assisted Mass Appraisal Data (CAMA)
Municipal CAMA data is supplied by the municipalities themselves. CAMA data collected as part of the Mosaic Parcel Map Project is incorporated into the system pursuant to REV 2800. Municipalities that provide CAMA data to the Mosaic do not need to supply additional CAMA exports for Equalization.
Municipal Validation Process
The municipal validation process ensures that the information being abstracted from the Counties and PA-34 is correct. This is also the point where information from the municipal CAMA system is associated with a transaction. The municipal validation process is the core of the Equalization process, without this step, accurate ratio studies would not be possible.
DRA Validation Process and Questions
Following the release of municipal verified data to DRA, the information is reviewed by Property Appraisal staff to ensure accuracy. At this point DRA staff will provide questions to the municipality to clarify any issues with a particular transaction(s).
Following successful completion of the municipal and DRA verification processes, a final ratio study is produced by DRA.