Farmington tax rate up 4.7 percent
FARMINGTON - While the community paid off a bond for its elementary school, residents should see an increase on their tax bills as state revenue decreases this year.
On Nov. 5, the N.H. Department of Revenue Administration set the overall tax rate at $21 per $1,000 of local valuation. It is $1 - or 4.76 percent - greater than last year's rate of $20.
The total tax rate is broken down as follows: $6.65 for the town, $9.87 for local schools, $2.18 for state schools and $2.30 for the county.
Last year, it was $7.13 for the town, $8.12 for local schools, $2.35 for state schools and $2.40 for the county.
While the town portion decreased 48 cents, the local school portion rose $1.75 due to a combination of less revenue and a smaller fund balance than the previous year, according to business administrator Jeanette Lemay.
Lemay said the district returned $151,000 to help offset taxes, as compared to $710,000 in 2011. She added a new law will allow school districts to ask residents - via warrant articles - to retain 2 percent of their fund balance for emergencies.
"There was a drop in revenue of about $1 million," Lemay said, adding the district no longer receives state building aid since taxpayers paid off the bond for Valley View Community School, which educates students in kindergarten through grade 3.
Lemay said the district plans to shift personnel to create new programs - like chemistry - as part of the ongoing budget process.
The overall valuation of the town increased by $5,556,203 - or 1.2 percent - from $467,620,120 to $473,176,323.
READER COMMENTS: 0
- No curbside collections in Manchester on Monday - 0
- Suit: Claremont's North Country Smokehouse claims $606,011 spent on diamond, SUV, more - 9
- Winnipesaukee watershed association looking to raise its profile - 0
- New Ipswich cemetery’s future is anybody guess after state objects to graves - 1
- Goffstown artisan gives new face to Wolfeboro tower - 0
- Town may have to fix grave error - 3
- Updated: Winning Powerball ticket sold in Fla.; 2, $1M tickets sold in NH - 0
- No more Winni whoppers: Fishing Derby winner will have to take lie detector test - 11
- Learning the way of the gun in Wakefield - 2
READER COMMENTS: 0
- NHIAA Div. I Track: Lynch, North boys prevail - 0
- Two found dead in Belmont; one man detained as part of investigation - 0
- Weather may be more like Veterans Day than Memorial Day - 0
- Awards cap city's Small Business Week - 0
- Rock Cats-Fisher Cats suspended - 0
- Budget plan presses NH hospitals to join managed care networks - 0
- Students hold ceremony to honor flags - 0
- This week's Rare Bird Alert - 0
- McCafferty nominated for District Court judge position - 0
NHIAA Scoreboard, May 24, 2013
State’s stand-your-ground law intact
Route 101 widening all about being safe
Rock Cats-Fisher Cats suspended
Just say it: Our fight is with radical Islam
The casino vote: The House did its duty
- Should adultery remain a crime under U.S. military law?
- Total Votes: 641