How does the government determine the fair market value of my property?

In New Hampshire, the government may determine the fair market value of your property using a variety of methods. When using the power of eminent domain to take property, the government must pay the property owner “just compensation” for the value of the property. In order to determine what is fair, the government will look at comparable sales of similar properties. It will often hire an appraiser to do a proper market analysis. The appraiser will look at recent sales of similar properties to determine the current market value of your property. They may also consider the potential of your property, such as the zoning laws that govern the area, and any potential future uses of the property. The government may also use expert testimony, such as surveys and other documents, to aid in its valuation of the property. Finally, the government may also consider the age, condition, and location of the property to determine its fair market value. Ultimately, the government is responsible for determining the fair market value of your property, so it is important to be educated on the process. You may also want to hire a lawyer to help ensure that you are receiving the highest compensation for your property.

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How does the government determine the fair market value of my property?

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