Andrew Nelson, Bill Dedman and Matt Hersh of The Telegraph used city records to show that thousands of homeowners in Nashua, N.H. are paying
too much in property taxes because of wide disparities between sale prices
and the city's valuation of properties. Thousands more are paying too little, requiring other taxpayers to pick up the slack. Comparing the sale prices of those homes with the assessor's value, the investigation found 22.7 percent were overtaxed by at least 5 percent, 33.3 percent were undertaxed by at least 5 percent and 44.0 percent were close, pegged within 5 percent of their sale price. "If those homes that sold are representative of all 24,530 homes in the city — and the entire property tax system is based on the assumption that they are representative — then the owners of roughly 6,000 homes in the city are paying too much in property tax, about 8,000 are paying too little, and about 11,000 are paying about the right amount."