The NH Department of Revenue Administration has finalized the Town’s 2019 tax rate, at $22.50 per thousand of assessed value. This is down 14 cents, or 0.7%, from last year’s rate.
Components of the rate include:
+ $0.26 (+6%)
- $0.38 (-3%)
- $0.01 (-0%)
- $0.01 (-1%)
- $0.14 (-1%)
The largest factor in changing the rate was a significant increase in the School District's prior year "unrestricted fund balance." The combination of unspent funds, unanticipated revenue and other factors from the fiscal year that ended in June 2019 rose to $760,000, from $307,000 the year before.
Separate factors affecting the total rate include:
- The Town’s total property assessment increased by $6.3 million, or 1%; which effectively reduces the rate for all properties;
- School appropriations for the current year increased by $445,000;
- The Town Tax Effort increased by $185,000. Most of this (roughly $117,000) is attributed to changes in the Veterans’ Tax Credit approved by Town Meeting in March.
Tax bills will be mailed this week, and are due December 12, 2019. June tax bills were based upon last year’s rate, and the full 2019 taxation at the new rate will be reflected in the December bills. Therefore, December bills will differ slightly from June’s.