MEREDITH — Although the municipal portion of the tax rate remains stable at $5 per $1,000 of net assessed valuation, the total property tax rate for Meredith, set by the New Hampshire Department of Revenue Administration for 2018, increased by 39 cents, or 2.56 percent, from $15.23 in 2017 to $15.62 this year.
Two years ago, the rate was $15.59, so the increase since 2016 is only 3 cents, or .19 percent. That is because the total valuation of the town has increased from $1,771,154,645 in 2016 to $1,936,858,689 today.
That means that a hypothetical $200,000 home that paid $3,118 in taxes in 2016 might be valued at $218,720 today, and would have a tax bill of $3,416.41. This illustration does not take into account the new construction that contributes to the town’s net assessed valuation, and individual properties values would vary, based on the type of structure, location, and other factors.
The municipal portion of the tax rate was $5.06 per $1,000 in 2016, but it has been $5 per $1,000 in both 2017 and 2018. Over two years, the municipal rate decreased by 1.19 percent.
The county portion of the tax rate decreased from $1.33 in 2016 to $1.23 in 2017, but it increased by 16 cents, or 13.01 percent, to $1.39 this year. Over the two years, the county rate increased by 4.51 percent.
The state education tax rate, which was $2.44 in 2016, has been stable at $2.21 for the past two years, for a 23-cent, or 9.43 percent reduction over the two-year period.
The local education tax rate has increased each year, from $6.76 in 2016 to $6.79 in 2017 and $7.02 in 2018. The one-year increase was 23 cents, or 3.39 percent, and the two-year increase was 26 cents, or 3.85 percent.