KEENE, N.H. (MyKeeneNow) Keene property owners are getting a closer look at the results of the city’s 2026 property revaluation, with residential assessments rising substantially more than commercial values as the city adjusts its tax base to reflect current market conditions.

Keene City Assessor Dan Langille discussed the revaluation Monday morning with on WKBK’s Good Morning with Dan Mitchell, explaining how the new values were calculated, why some types of properties increased more than others and what residents can do if they believe their assessment does not accurately reflect their property.

New Values Reflect a Changing Market

Langille said the revaluation is required by state law every five years and was conducted with assistance from Vision Government Solutions.

Notices containing the new assessments were mailed to property owners in mid-August. The notices also provide a toll-free number for owners who want to schedule an informal review with the contractor. Questions involving exemptions and tax credits should continue to be directed to the city assessor’s office.

The assessment process relied on a combination of city property records, building permits, inspections, sales data and market analysis. Factors considered included a property’s size, style, construction quality, condition, neighborhood and land characteristics.

Although assessors and contractors did not enter every property, Langille said the contractor drove throughout the city to visually verify exterior conditions.

Land values were evaluated separately, using factors including recent land sales, zoning, buildability, frontage, topography and whether a parcel was backland or enrolled in the state’s current-use program.

Residential Values Outpaced Commercial Properties

One of the most significant changes in the revaluation is the difference between residential and commercial appreciation.

Langille said the median residential assessment increased by approximately 67%, compared with about 30% for commercial property.

Some residential categories experienced even stronger increases. Two- to four-family properties rose by roughly 68%, while apartment properties with five or more units increased by about 50% on average. Langille said some larger apartment buildings could see values approach a doubling.

Manufactured homes, smaller houses, condominiums and other lower-priced residential properties also experienced particularly strong appreciation. Langille attributed much of that increase to continued demand and limited inventory.

The result is a substantial expansion of Keene’s overall tax base. The city’s taxable property was valued at approximately $2.2 billion to $2.3 billion before the revaluation and is expected to exceed $3 billion once the process is finalized, including utility property.

A Higher Assessment Does Not Mean A 67% Tax Increase

Langille stressed that property owners should not interpret the percentage increase in their assessment as a corresponding increase in their tax bill.

Because the city’s total tax levy is distributed across the entire taxable property base, a larger tax base generally results in a lower tax rate per $1,000 of assessed value.

Langille estimated that Keene’s eventual combined tax rate could fall somewhere in the low-to-mid $20s per $1,000 of assessed value. He cautioned property owners against applying the previous tax rate, which was above $37 per $1,000, to their new assessments.

The final rate has not yet been established. It will depend on a number of factors still being resolved, including state revenues, school fund balances, utility valuations, changes resulting from informal assessment reviews and the final size of the city’s taxable base.

Property Owners Can Challenge Their Assessment

Langille encouraged property owners who believe their new assessment is inaccurate to take advantage of the informal review process.

During a review, property owners can discuss the information used to value their property, including its size, characteristics, condition and comparable sales. Corrections to property records or other information that affects market value can result in an adjustment to the assessment.

The informal review is not necessarily the end of the process, and values can change as the city completes the revaluation and considers information submitted by property owners.

Current Use and Tax Exemptions

The interview also touched on Keene’s current-use program, which applies to qualifying undeveloped land of more than 10 acres. Langille explained that current-use status takes into account factors such as the nature and use of the land.

A change tax can apply when qualifying land is developed or otherwise removed from current use. Simply selling property does not, by itself, trigger the change tax.

The exact amount of Keene land currently enrolled in the current-use program remains an outstanding figure that Langille said would be provided after updated statistics are available.

Langille also said approximately 30% of Keene’s property is tax-exempt. The city receives roughly $1.5 million through payments in lieu of taxes and similar arrangements.

Exemption amounts increased by approximately 65% as part of the revaluation, although those exemptions also affect how the remaining taxable property carries the city’s tax burden.

For property owners, Langille’s central message was that the new assessment represents an updated estimate of market value, not a direct prediction of the next tax bill. Residents who have questions about their individual assessment are encouraged to review the information on their notice and seek an informal review if they believe something is incorrect.

Listen to the full interview: