Concord tax rate drops nearly 1 percent for 2012

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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.