2013 Meredith property tax burden up 7.2%

MEREDITH — The New Hampshire Department of Revenue Administration has set the 2013 property tax rate at $14.41 per $1,000 of assessed valuation, an increase of $1.79, or 14 percent, over the 2012 rate.

The amount to be raised by property taxes rose by $1,664,699, from $23,180,421 to $24, 845,120, an increase of 7.2 percent, while the total assessed valuation shrank by $115,283,407, from $1,856,317,320 to $1,741,033,913, a decrease of 6.2 percent.

The town tax increased from $4.20 to $4.55, the local school tax from $4.76 to $5.76, the state education tax from $2.29 to $2.59 and the county from $1.37 to $1.51.

Town Manager Phil Warren told the Board of Selectmen that the increase in the tax rate was primarily a result of the decline in the assessed valuation, itself a reflection of an adjustment to the equalization ratio, which measures the relationship between assessed values and market values. In 2012, the ratio was 106.1 percent, indicating that assessed values exceeded market values by 6.1 percent.