Merrimack County Property Tax Abatement: The I-89 Corridor

Merrimack County sits at the economic crossroads of New Hampshire. I-89 runs through it, connecting the state capital (Concord) with central Vermont to the north. The county includes Concord, Keene, Lebanon, and a collection of smaller towns that have all experienced steady commercial development over the past decade.

What I see consistently: commercial properties here are assessed as if they’re worth more than they actually are. The county has room for growth, and assessors often price in that future potential rather than valuing based on current income and recent comparable sales. That creates opportunities for abatement.

The Merrimack County Commercial Market

Concord (the hub)

• Capital city effect: government employees, contracting jobs, professional services
• Assessment rates are moderate but not aggressive: $16–$18 per $1,000
• Assessment ratio runs 85–88% of market value, so risk of overvaluation is lower than Hillsborough or Rockingham
• But it still happens, especially for income properties with lower occupancy

Keene (the outlier)

• College town (Keene State University) drives demand for student housing and rental property
• Commercial property is less dominant here than residential/multifamily
• Assessment ratios can run high (90%+) because the college effect inflates overall property values
• Retail and office are usually fairly valued; multifamily is where overvaluation shows up

Lebanon (the tech corridor)

• Dartmouth influence + growing tech sector
• Higher tax rates ($20–$22 per $1,000) reflect the desirable location
• Retail on Main Street and Route 10 is usually fairly valued because of active market
• Medical office and institutional property can be overvalued due to Dartmouth bias

Interior towns (Boscawen, Canterbury, Loudon, Newbury)

• Lower tax rates ($14–$17 per $1,000)
• Assessment ratios are often aggressive (90%+) relative to actual market value
• Limited comparable sales data means assessors rely on cost and income approaches
• This is where I find the biggest abatement opportunities

Why Merrimack Properties Get Overassessed

There are three main culprits:

1. Government-anchored inflation Concord is a government town. Tax revenue is stable, jobs are stable, and the city can sustain slightly higher property values than comparable towns. Assessors sometimes assume that stability applies to all commercial property, including private retail and office space with much higher vacancy and tenant risk. It doesn’t.

2. Income approach errors Many commercial properties in Merrimack are income-producing (retail, office, multifamily). Assessors use market rent tables from the state’s assessment manual. Those tables are statewide averages. But Merrimack’s actual rents are often lower than the state average, especially in interior towns. When assessors use a $12/sf assumption for retail in Boscawen but actual rents are $8–$9/sf, your valuation is inflated by 30%+.

3. Capitalization rate (cap rate) missteps Cap rate = Net Operating Income ÷ Property Value. Assessors working backward (starting with value and backing into cap rate) sometimes use rates that are too low, inflating value. In Merrimack, investors are using 7–8% cap rates, but assessors might use 5.5–6%. That’s a big difference.

Assessment Data: Merrimack County

Town	Pop.	Avg Tax Rate	Est. Assessment Ratio	Key Property Types
Concord	43,100	$17	86%	Office, retail, mixed-use
Keene	23,400	$18	91%	Multifamily, student housing
Lebanon	12,900	$21	89%	Retail, medical office, mixed-use
Boscawen	3,900	$15	92%	Light industrial, office
Canterbury	2,200	$14	90%	Mixed commercial/residential
Loudon	2,800	$16	91%	Industrial, highway commercial

Interpretation: If your town shows assessment ratio above 88%, you’re in the overvaluation zone. Towns like Keene, Boscawen, Canterbury, and Loudon all run hot.

Real Example: Concord Office Complex

I worked with an owner of a 20,000 sf office building in downtown Concord. The assessment was $1.6M, suggesting a value of $80/sf. Recent comparable sales in Concord showed office at $55–$65/sf. The property had one major tenant (40% of space) on a 3-year lease, the rest was split among smaller users with typical turnover.

I prepared an abatement showing:

• Market approach: three comparable sales averaged $62/sf
• Income approach: actual NOI from leases, using 7% cap rate (market-based)
• Adjusted value: $1.24M

The Selectmen granted a $360,000 abatement. At Concord’s rate of $17 per $1,000, that was a $6,120 tax savings in year one. Over three years, that owner recovered over $18,000.

Interior Merrimack: The Overlooked Gold Mine

The smaller towns in Merrimack County (Boscawen, Canterbury, Loudon, Newbury) are underappreciated. Tax rates are lower, but assessment ratios run high, and there’s less market activity, so assessors have fewer recent sales to anchor valuations. This creates consistent gaps between assessed value and actual market value.

If you own light industrial, warehouse, or highway-commercial property in these towns, I’ve likely already won abatements for similar properties. The case-building is straightforward: pull together recent comparable sales, show your income (if applicable), and demonstrate the gap.

Filing Your Abatement in Merrimack

Concord and Keene have formal assessing offices and more detailed procedures. Smaller towns are simpler—often just a part-time assessor and the Board of Selectmen.

In all cases:

• Deadline: March 1 (state-wide, RSA 76:16)
• File with: Your town’s Board of Selectmen or Assessor’s office (I’ll tell you exactly where)
• Decision window: Selectmen have until July 1
• Appeal: If denied, appeal to BTLA within 120 days

What you’ll need to provide:

• Current property card and deed
• Last three years of tax bills
• Lease agreements and current/market rent data
• Recent appraisal, or I’ll research comparable sales
• Photos and condition notes

I’ll handle the analysis, comparable sales research, and abatement filing. You just need to provide access to your records.

Why Merrimack Matters

This county is central New Hampshire’s economic core. I-89 drives development. The capital city effect means government agencies and professional services cluster here. But that doesn’t mean every property is fairly valued. In fact, the steady growth often masks individual overvaluations, especially in income properties and interior towns.

The window to file is narrow. March 1 comes once a year. If you miss it, you’re waiting another 12 months.

Your Next Step

If you own commercial property in Merrimack County—Concord, Keene, Lebanon, or any of the smaller towns—let’s talk. I work on contingency: 30% of first-year tax savings if I win, nothing if I don’t.

Start your abatement application or learn how the process works. The sooner we begin, the stronger your case will be.

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Related: Dive into the DIY vs. professional comparison and understand why New Hampshire’s no-income-tax system creates property tax burden.