GILFORD — The New Hampshire Department of Revenue has set the tax rate for 2016 at $17.95 per $1,000 of assessed value, which is down 20 cents or less than 1 percent from last year. For someone with a home valued at $300,000, that translates to a bill of $5,385.
Town Administrator Scott Dunn said Monday that tax bills should have been mailed to residents and are due around Dec. 8.
The local tax rate is composed of two separate factors over which the voters have control and include the town rate, which is $5.34 per $1,000 in assessed value and is up 20 cents or 3.7 percent from 2015, and the local school rate, which is $8.98 and down 2 cents, or less than 1 percent, from 2015.
One other components of the tax rate are the statewide property tax that is set by the state and collects money that is redistributed to local school districts. This year's rate is $2.30 per $1,000 in assessed value, which represents a decrease of 15 cents or a 6.1 percent decrease from last year.
The final component is the county tax that is driven by the budget passed by the 18 members of the Belknap County Delegation, who are also the people elected to represent various Belknap County communities in the N.H. State House. This rate is $1.33 per $1,000 in assessed value and is down five cents or 3.6 percent from last year.
Dunn said the 2016 town operating budget was $8,858,929 in money raised through local taxes.
Selectmen approved a budget last Wednesday that included a total of $8,991,821 in money to be raised by local taxes, which is up by 1.5 percent. The Budget Committee is reviewing the proposed budget and meets weekly on Thursday nights.
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