Derry tax rate includes 4.1 percent hike
DERRY - Derry homeowners can expect to see a 4.1-percent increase in their property tax rates for 2012, according to town officials.
According to Town Administrator John Anderson, the state's Department of Revenue Administration set the tax rate for 2012 at $30.48 per thousand of assessed valuation, an increase of $1.40 from the 2011 tax rate of $29.08.
"The town's overall valuation decreased by 6.9 percent due to a town-wide valuation update," said Frank Childs, the town's finance director. "This decrease was slightly offset by the added property values and additions/remodeling of approximately $13.8 million. On a net basis, the town's valuation declined by 6.2 percent."
The revised net taxable assessed valuation for Derry for 2012 is $2,331,939,161, compared to $2,485,998,094 for 2011. The tax impact on a 2012-valued home of $232,700 will be $7,093, an increase of $278, or 4.1 percent, over the 2011 tax bill.
"The tax bills are expected to be mailed by Nov. 9, with the payment due to the town by Tuesday, Dec. 11," Childs said.
From 2011 to 2012, the town services rate increased 2.3 percent, the combined school and state education rates increased by 6.3 percent, and the county rate increased by 4.5 percent.
"The increase in the town services rate was primarily due to increases in personnel costs, including the budgeting of funds to cover settlements of labor contracts," Childs stated. "The increase in the school rate is due to negotiated personnel costs, increases in tuition costs for Pinkerton Academy and out-of-district placements, and the elimination of Education Jobs federal funding."
The school district increases were offset slightly by a 2.5 percent reduction in the state education rate.
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