North Hampton residents should expect to see a healthy increase in their tax bills this year thanks to pretty big decrease in the town's overall assessed value, among other things.
The New Hampshire Department of Revenue Administration recently set North Hampton's 2013 tax rate at $16.75 for every $1,000 of assessed value. That's 70 cents higher than the $16.05 rate in 2012.
In addition to uncontrollable increases in the town's contributions to the state retirement system, the overall revaluation for the town plays a large role in the tax rate increase.
The town was assessed at $1,014,588,100 in 2012, although that number dropped this year by roughly $15 million dollars to $999,585,300, according to NHDRA. When a town's valuation decreases, a homeowner's share of any given municipality's total taxes increases, and vice versa.
There were also increases in a couple of town meeting-approved collective bargaining agreements this year, and those changes also play a role in North Hampton's 2013 tax rate increases.
The 70-cent tax rate increase means a $300,000 home in North Hampton would pay $5,025 in taxes this year, or $210 more than the $4,815 that home would've paid in 2012.
The town's portion of the tax rate had the highest increase, going up 39 cents from $4.85 in 2012 to $5.24 in 2013. The local school portion of the rate went up 17 cents from $7.74 to $7.91, the state school portion increased 8 cents from $2.40 to $2.48, and the county portion increased 6 cents from $1.06 to $1.12, according to NHDRA.
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