Tax rate up nearly 2.5 percent for Nashua homeownersBy KIMBERLY HOUGHTON
Union Leader Correspondent
November 13. 2012 10:35PM
NASHUA - According to David Fredette, city treasurer, the property tax rate has been set by the state Department of Revenue Administration at $21.49, an increase of 2.48 percent over the previous rate of $20.97.
Mayor Donnalee Lozeau had predicted a tax increase of less than 3 percent since the budget season began months ago.
"During the past several years, state and local revenues have declined significantly. Through careful planning, cost-saving measures and reasonable tax increases, we have been able to mitigate those lost revenues while maintaining services," Lozeau said in a statement.
The tax rate, according to Lozeau, must continue to be stable from year to year so property owners know what to expect and not be hit with large fluctuations.
The average homeowner with a house assessed at $250,000 in Nashua paid about $5,242.50 in property taxes this year, which will rise to about $5,372.50 under the new figures, explained Fredette.
"The new property tax rate will mean that the owner of a home assessed at $250,000 will pay approximately $11 per month more in local property taxes this year than last year," Fredette said in a release.
The city's overall tax rate is broken into four sections: the city portion accounts for $8.56, the county portion is $1.11, the local school portion is $9.39 and the state school portion is $2.43.
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Kimberly Houghton may be reached at firstname.lastname@example.org.