The NH Department of Revenue Administration has finalized the Town’s 2023 tax rate at $12.61 per thousand dollars of assessed value.
A few factors go into determining the tax rate:
- The amount needed to cover budget appropriations, as approved by voters at Town and School District Meetings. These are offset by revenues;
- The amount needed to cover State School Tax and County Tax obligations. These are set by the state and county, not locally; and
- The total value of property in Town.
The total value of property increased dramatically with this year’s full revaluation. This explains the large drop in the tax rate ($17.85 to $12.61 per thousand).
The total amount raised through property taxes taxes changed as follows ($ million):
Local + State Education
Two tax bills are issued each year. The June bill was generally equal to one-half of 2022’s bills. The second bill calculates the full year 2023 using the new tax rate and the new value assessment. The June payment is subtracted from that calculation to set the December bill amount. Therefore, the December bill could be quite different (higher or lower) than June for many properties. Next June, the bill will be one-half of the full year 2023 calculation, which in most cases will be less than this December. Please feel free to call town hall with any questions.
Bills are expected to arrive before November 1 and are due December 11.