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November 05. 2012 8:47PM

Merrimack's tax rate lower than last year

MERRIMACK - Local homeowners can expect to see a slight decrease in their property tax bills issued later this week.

"The overall tax rate is $23.21, which is a .22 cent decrease," Finance Director Paul Micali said Monday.

The New Hampshire Department of Revenue Administration recently set the town's new tax rate of $23.21 per $1,000 of assessed valuation. The previous tax rate in 2011 was $23.43, and the 2010 rate was $19.53.

For a home assessed at $300,000, the new tax rate would decrease the annual bill from about $7,029 to approximately $6,963, or about a $66 decrease, while a home assessed at $200,000 would see a decrease of about $44.

Micali declined to provide additional details on the exact town portion and local school portion of the tax rate, explaining a press release would be issued later this week sharing more details.

The tax rate is composed of four sections, including local schools, state schools, municipal and county.

Property tax bills will be mailed out on Friday, and they are due Dec. 10, according to a report by Town Manager Eileen Cabanel.

Property taxes that are not paid by the deadline are subject to a 12 percent interest penalty on an annual basis. The town has adopted an optional twice-a-year billing procedure, with bills due in July and December.

Last fall, some local residents were confused by their December tax bills, which in some cases had gone up significantly despite a town-wide revaluation process that dropped many home assessment values.

khoughton@newstote.com


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