Rochester taxes bump up 3.2 percent
ROCHESTER - Taxpayers will pay more this year as costs continue to rise while revenues fall and property values remain flat, according to Finance Director Blaine Cox.
On Tuesday, the state Department of Revenue Administration set the overall tax rate at $25.68 per $1,000 of local valuation. That is 82 cents - or 3.2 percent - greater than last year's rate of $24.86.
The tax rate is broken down as follows: $8.61 for the town, $11.76 for local schools, $2.52 for state schools and $2.79 for the county. Last year, it was $8.30 for the town, $11.17 for local schools, $2.61 for state schools and $2.78 for the county.
Cox said the city's portion rose 31 cents due to a variety of expenses - such as salaries, insurance costs, salt and fuel - which are not completely controllable.
"It was really no one item," Cox said, nonetheless, both the municipal and school budget fell within the range of the city's tax cap.
Cox said the local schools portion increased by 59 cents due to a loss of federal revenue, such as title grants.
"We won't know for another few months," Cox said, adding the tax cap can be adjusted by increases to the national consumer price index and new assessed values to local property.
This year, the overall valuation of the city increased by $15,641,334 - or 0.8 percent - from $1,988,975,970 to $2,004,617,304.
"The assessed values are flat," Cox said, adding the increases in value were for residence or businesses which completed a significant construction project.
The property tax bills are scheduled to be mailed today and are due Dec. 19, according to the city's website, www.rochesternh.net.