Moultonborough tax rate continues to drop

MOULTONBOROUGH — The New Hampshire Department of Revenue Administration has set the 2018 Moultonborough property tax rate at $7.72 per $1,000 of net assessed valuation, a drop of 50 cents (6.08 percent) from the 2017 rate of $8.22.

Since 2016, the rate has fallen $1.02 per $1,000, or 11.67 percent, while the town’s total valuation has increased 8.78 percent, from $2.842 billion to $3.092 billion.

Because of the appreciation of real estate values, combined with a reduction in the tax rate, a hypothetical home valued at $200,000 in 2016 would now be worth $217,560, while the 2016 tax bill of $1,748 would be $1,679.56 this year. 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 is $2.44 per $1,000, down 2 cents (0.81 percent) from 2017 and 33 cents (11.91 percent) since 2016.

The county tax rate is $1.23 per $1,000, down 12 cents (8.89 percent) from 2017 and 20 cents (13.99 percent) from 2016.

The state education tax rate is $2.10 per $1,000, down 19 cents (8.3 percent) from 2017 and 18 cents (7.89 percent) since 2016.

The local education tax rate is $1.95 per $1,000, down 17 cents (8.02 percent) from 2017 and 31 cents (11.67 percent) from 2016.

Tax bills went out on Oct. 30 and the payment is due by Dec. 5.

Tax Collector Susette Remson noted that, in order to deduct real estate taxes from taxpayers' 2018 federal income tax, the payment must be postmarked no later than Dec. 31. Payments by check that are placed in the drop box at the entry door to the Town Hall on that day also will be eligible for the deduction, she said.

At its Oct. 18 meeting, the Board of Selectmen agreed not to apply any of the town's fund balance to reduce the tax rate further, noting that the town already had agreed to use $1.4 million from the fund balance to offset the appropriations.

Jean Beadle, chair of the Board of Selectmen, said, "The Select Board members are pleased with the reduction in the overall 2018 tax rate, which will help offset some of the increases in the 2018 assessed values in taxpayers' tax bills again this year."

The assessed valuation increased by about $148,847,500 – to $3,092,563,484 – between 2017 and 2018.

"Our goal," Beadle continued, "is to continue to provide the quality services our citizens have come to expect while also being good stewards of our modest tax rate. Prudent management of taxpayers' dollars by our department heads is a key factor in meeting our goal."

Enclosed with the tax bill was the town's semi-annual newsletter, which included information about the new code and compliance officer and information on activities at Moultonborough Academy and the Moultonborough Central School.