What you should know about Real Estate taxes

What you should know about Real Estate taxes

A lot of people seem to think that the Real Estate tax year begins on January 1st. This is not true. In New Hampshire the tax year runs from April 1st of the current year, to March 31st of the following year. New Hampshire sets the new tax rates during the month of October. The bills are then calculated and delivered to the property owners of record.  They are due 30 days from the date of the bill.  Most towns bill on a semi-annual basis.

If a tax payment is not made when due, interest is assessed at a rate of 12% per annum. Once a property has had a tax lien filed the interest rate increases to 18%. The value of your property is based on the value as of April 1st in any given year.


9th Camp Allen Classic Annual Golf Tournament

The Annual Camp Allen Golf Tournament was held on June 29, 2015 at the Manchester Country Club. Trombley Kfoury, P.A. is proud to be a Sponsor of this charity event.

The Camp Allen Classic proceeds will benefit campers and families. Camp Allen provides opportunities for growth, friendship and fun for children and adults with cognitive and physical challenges in an outdoor environment since 1931.

Pictured from left to right are Chris Masters, Dr. Rick Calvin and Dr. Joe Sheehan.

Title Insurance equals Peace of Mind

Purchasing a home may be the single biggest investment you will ever make. Before closing on the home you will want to know that no other individual or entity has a right, title, lien or claim to the property.  Seeing that your rights and interests to the property are clear is the business of a title insurance company.  For a one-time title insurance premium  you will receive continuous title insurance protection in an amount equal to the purchase price of the property or its current market value.

Prior to a policy being issued, the title insurance company will complete extensive research into relevant public records, maps and documents to trace ownership of the property and determine if anyone other than you has an interest in the property.  Through its research, the title insurance company can usually identify any title problems that may arise and have these problems cleared-up prior to closing.

Typically your title insurance will protect you from loss if someone contests your title in a legal action or if there is a title defect that cannot be eliminated.  The title insurance company will protect you from  financial loss up to the amount of the policy.

Need more information, give us a call at 603-836-5309 or email

What do you mean it’s called a Consummation?

What do you mean it’s called a Consummation?

Beginning on August 1st you can say good bye to scheduling a Closing or setting a Closing Date. From now on, the date that you sign your documents will be called a Consummation.

The Good Faith Estimate is also going away, it will soon be known as a Loan Estimate or LE.

If you just learned what we, in the real estate closing industry, so commonly refer to as just the “HUD” or sometimes the Settlement Statement, that is gone, too. On August 1, 2015 that will be known as the Closing Disclosure or CD.

Have any questions on these changes…we would be happy to answer them for you!

What is the Form PA-34 that you sign at closing…

What is the Form PA-34 that you sign at closing…

In New Hampshire, the Department of Revenue Administration is responsible for equalizing the value of property in each municipality.  Equalization is used to accurately apportion county and school district taxes among the cities and towns and to distribute state revenues to the cities and towns.

To equalize property values, the Department of Revenue Administration annually conducts a sales/assessment ratio study for each municipality.  The information provided on the PA-34 form is needed to assist the Department in determining whether a particular sale involved is an “arms-length transaction” and should be included in our equalization sales/assessment study.


What Are Equalization Rates Used For?

What Are Equalization Rates Used For?

Some states require that all municipalities value property at the same assessment-to-market value ratio. Equalization rates are used to ensure that property taxes are assessed equally and in proportion to fair market value across all municipalities.

Equalization seeks to ensure that a taxpayer in one community, whose property has a fair market value of $100,000 will pay the same taxes as a property with a fair market value of $100,000 located in another town, regardless of how those two properties are assessed.

What is an equalization rate?

The equalization rate is a ratio of total assessed value for properties in a community to those property’s true market values. This number represents the NH Department of Revenue Administration’s judgment of how closely assessed values match the market value.

For example, an equalization rate of 90% would mean that on average the property in your community is being assessed at 90% of its market value. Check back and we will have more on this topic.

For Sale by Owner

For Sale by Owner

Are you selling your home without a realtor and need someone to prepare your Purchase and Sales Agreement.  We can help you with that!  Give us a call at (603) 836-5309 or email for more information.

What is a title search?

What is a title search?

A title search is sometimes referred to as an abstract of title or chain of title.  It is a detailed examination of the historical records concerning a property. These records include deeds, court records, property and name indexes, and many other documents. The purpose of the search is to verify the seller’s right to transfer ownership and to discover any claims, defects and other rights or burdens on the property.

Real Estate Titles and Closings – What Home Buyers Need to Know

Trombley and Kfoury will make sure that the title to a piece of real estate is good and then issue title insurance for that property. Title insurance protects the lender and/or owner against lawsuits or claims against the property that result from disputes over the title.

We also maintain an escrow account which contains the funds needed to close on your new home and we ensure that this money is used only for settlement and closing costs. At your closing, the settlement agent will bring all the necessary documentation, explain it to the parties, collect closing costs and distribute monies. Finally, we will ensure that the new deed and other documents are filed with the appropriate registry of deeds.

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