Property values down, Rollinsford tax rate up 20 percent
ROLLINSFORD - Following a state readjustment of the land values in the community, taxpayers will see an average increase of about 6.38 percent on their bills, according to Selectmen Chair Edmond Jansen.
On Nov. 13, the N.H. Department of Revenue Administration set the town's overall tax rate at $26.94 per $1,000 of local valuation. That is $5.38 - or 20 percent - greater than last year's rate of $21.56.
Although the town underwent its five-year assessment in 2010, Jansen said the state conducted another revaluation since there were issues with some of the equations.
As a result, the overall valuation of the town decreased by $38,999,711 - or 17.6 percent - from $260,627,965 to $221,628,254.
"It is a drastic change," Jansen said, adding for the most part, land values went down while the value of buildings rose.
As a result of the error, Jansen said the town will be revaluated again in 2017.
The tax rate is broken down as follows: $3.65 for the town, $17.34 for local schools, $2.84 for state schools and $3.11 for the county.
Last year, it was $2.75 for the town, $13.68 for local schools, $2.49 for state schools and $2.64 for the county.
"You still have to collect the same revenue," Jansen said, adding the average taxpayer will have to pay $6.38 more for property taxes.