Moultonborough tax rate drops 5.66% as valuation increases

MOULTONBOROUGH — The town tax rate has been set, and one of the lowest rates in the state has reduced 5.66%, to $5.33 per $1,000 of assessed valuation.

According to information provided by Town Administrator Angela Bovill, the municipal tax rate decreased 12.5% to $1.68; the county rate dropped 2.6% to $0.75; and the state education rate is down 8.7% to $1.05. The only increase was in local education, going from $1.81 to $1.85, or a 2% rise.

The only portion of the tax rate the town has control over is the municipal tax rate, which was reduced by $0.24 this year.

The total tax revenue amounts to $36.6 million, with the following breakdown: municipal is $11.6 million; county revenue totals $5.2 million; state education is $7.2 million; and local education is $12.7 million.

When taking out the War Service tax credits of $249,713, the total property tax commitment is $36.3 million.

The total assessed net valuation is $6.9 billion, an 8.54% increase over last year. The increased valuation did lead to the tax rate decreasing, but Bovill points out it can be a bit of a double-edged sword.

“The tax rate stays low, but valuation goes up,” Bovill said. “So, it is like, the scales tilt, if you will.”

Bovill said sometimes it can be a bit confusing, because while the rate decreases with the increase of valuation, some residents could see a higher tax bill due to the value of their property increasing.

According to the state Department of Revenue Administration, whose staff set the tax rate, Moultonborough has the lowest reported tax rate in the state so far this year.

The town’s tax rate has been consistently among the lowest in the state. In 2024, Moultonborough’s rate of $5.65 per thousand was fourth lowest, aside from unincorporated territories with zero, or a negative, tax rate. Hale’s Location has a tax rate of only $3.53, but Moultonborough is just higher than Bartlett ($5.58); Bridgewater ($5.40); and New Durham ($5.39).

“It is among the lowest, and a lot of it is our assessment,” Bovill said. “We are a lake community similar to Meredith, but we are assessed higher, and that is where the scale is tilted.”

Tax bills were sent out during the week of Nov. 7, and are due Tuesday, Dec. 16.