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Concord tax rate drops nearly 1 percent for 2012

Tax rates will decrease by nearly 1 percent for most Concord residents this year, due to an overall increase in assessed property values.

The combined 2012 tax rate for residents in the Concord School District is $24.37 per $1,000 in assessed property value, the city announced yesterday. The rate decreased by 0.94 percent from last year’s rate of $24.60

For Penacook residents in the Merrimack Valley School District, the combined 2012 tax rate is $27.52, an increase of 2.88 percent over last year’s rate of $26.75.

The rates are different than those projected in June, when the city set its budget; city officials estimated the city’s portion of the tax rate would increase by nearly 3 percent. But with an overall 3.94 percent increase in property values, the city’s portion of the tax rate decreased by 0.57 percent.

“As a result of an overall increase in assessed valuation of 3.94 percent, the city-only portion of the tax rate decreased by 5 cents,” Deputy City Manager for Finance Brian LeBrun wrote in a report to the mayor and city councilors.

Values of residential properties decreased 2.64 percent this year, LeBrun wrote, but the value of commercial, industrial and apartment properties increased by 13.77 percent.

Last year, the tax rate jumped 6.2 percent as property values decreased by nearly 3.9 percent.

The city’s portion of the tax rate is $8.67 per $1,000 in assessed property value, and the tax rate for Merrimack County Government is $2.76. The Concord School District’s rate is $10.50, the Merrimack Valley School District’s rate is $13.62 and the state’s education tax rate is $2.47.

Tax bills will be mailed to residents by Nov. 26, LeBrun said.

Residents can view their new assessments at the city’s assessing department, the Concord Public Library or the Penacook Library. They are on the city’s website at concordnh.gov or visionappraisal.com.

WOW! all of this excitement over .23 per $1,000 in valuation. So, if your home is worth $200,000 you can expect your bill to be $46 lower. Whooooooopeeeeeee.

Who's home values are increasing? Mine dropped by 2.5% from last year. 20% since 2008............I am going to end up paying $225 less property tax this year. In this economy, I'll take it. It will help with the increased Healthcare cost, gas prices and food prices!

In the same boat. My home has dropped in value but they have not reassessed. I had it appraised in 2008 got a refinance in 2010 and it was appraised for $30,000 less. Then I had it appraised in 2011 for another refinance to get down to 3.99% and it was appraised for $20,000 less than 2010. Milk is up 20% since 2008, beef, chicken, cheese, eggs, etc. have experienced even larger increases. But of course that is no issue. Gas prices are going back up after the election and healthcare costs for my family will be an additional $1200 due to Obamacare. We are getting nickle and dimed.

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