Higher valuations cause Gilford tax rate to drop

  • Published in Local News

GILFORD — The rise in the town’s net assessed valuation has led to a decrease in the town’s property tax rate.
The New Hampshire Department of Revenue Administration has set the 2017 tax rate for Gilford at $17.26 per $1,000 of net assessed valuation, a decrease of 69 cents, or 3.8 percent, from the 2016 rate of $17.95.
The tax rate has declined by 71 cents, or 4 percent, since 2015, when the rate was $17.97.
The municipal portion of the tax rate is $4.91, a reduction of 43 cents, or 8.1 percent, from the 2016 rate of $5.34, and is 23 cents, or 4.5 percent, lower than the 2015 rate of $5.14.
The county tax rate, at $1.22, is down from $1.38 in 2015 and $1.33 in 2016.
The state education tax is $2.27, down from $2.45 in 2015 and $2.30 in 2016.
The local education tax, at $8.86, is down from $9.00 in 2015 and $8.98 in 2016.
Residents of the Gunstock Acres Village Water District will have a tax rate of 61 cents, which is a 5-cent or 8.9 percent increase over the 2016 tax rate of 56 cents.
Gilford Finance Director Glen Waring said rising property values always contribute toward lowering the property tax rates, but this year that was especially true.
The net assessed valuation for the town is $1,754,518,392, an increase of $94,958,970, or 5.7 percent, from a year ago. Over the last two years, the town’s net assessed valuation has increased by $123,289,431, or 7.6 percent.
A reduction in the tax rate does not necessarily equate to a lower tax bill. If a property increases in value by 4 percent and the tax rate drops by 4 percent, the tax bill may remain the same. Tax exemptions for blindness or being a veterans also can affect the amount on the tax bill.
Tax bills went out this week and are due on Dec. 15. Unpaid bills will be subject to a 12 percent annual penalty.

11-08 Gilford Tax Rate Chart