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: 9
- Deroy Murdock: The indictment of Rick Perry is bizarre and unfounded - 0
- Another View - Marc Champion: A strong terror policy would cure Obama's golf woes - 0
- Jonah Goldberg: Obama confuses the TV world with the real one - 1
- George Will: In defense of the defenders - 0
- Roger Simon: Is Ferguson the future? - 0
- Charles Krauthammer: Stopping the worst people on earth - 0
- Lynn Preston's NH Legal Perspectives: What prospective real estate purchasers need to know - 0
- Gail Fisher's Dog Tracks: 'Mirror' approach reflects important role of humans in dog training - 0
- Thomas Sowell: The media and the mob - 1
READER COMMENTS: 0
- NH Motor Speedway to again host two Sprint Cup Series weekends in 2015 - 0
- St. Anselm football players practice ini August heat - 0
- White, Glenn lift Fisher Cats over Harrisburg, 6-4 - 0
- KSC field hockey first in coaches poll - 0
- New England Patriots guard Mankins traded to Tampa for TE Wright - 0
- NH Fisher Cat Lee still striving for making it to the major leagues - 0
- Former city restaurateur gets jail sentence for sex assault - 0
- Former high school art teacher gets suspended sentence in drug case - 0
- New Manchester school district standards to give teachers more leeway - 0
Backyard boulder kills Raymond homeowner
Market Basket: 'So close, yet so far'
GOP for legal pot? Supporters of legalization rallying behind NH gubernatorial candidate Hemingway
Ohio's Rob Portman: GOP can win back Senate