LACONIA — The city finalized its tax rate Friday at $20.85 per $1,000 of assessed valuation, or 18 cents less than the current rate, City Manager Scott Myers said.

The city saw an increase in assessed value of $91 million dollars over the prior year, bringing the current citywide valuation up to $2.158 billion.

Tax bills will be brought to the post office on Monday to begin the delivery process and will have a due date of Jan. 2, 2019.

“The tax rate itself is the answer to a mathematical equation of dividing the amount of money to be raised by taxes by the assessed value of the city, in thousands,” Myers said in a briefing paper. “What drives taxes is increases or decreases in spending.”

This fiscal year, the amount to be raised by taxes for the city, schools and the county was more than $44 million, compared to $42.8 million in the previous fiscal year.

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