Moultonborough tax rate falls 7.4 percent

MOULTONBOROUGH — The property tax rate for 2019, as set by the New Hampshire Department of Revenue Administration, is $7.15 per $1,000 of assessed valuation, a drop of 57 cents, or 7.4 percent, from the 2018 rate of $7.72 per $1,000.

Contributing to the lower rate is a 9.2 percent increase in the town’s net assessed valuation, which is $285 million higher than it was in 2018.

That means that a hypothetical $200,000 home that paid $1,544 in taxes in 2018 might be valued at $218,400 today, and would have a tax bill of $1,561.56. 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.

This is the fourth year in a row that the property tax rate has fallen, dropping 18.2 percent over the last three years. Property values have risen 18.8 percent over the same period.

The municipal portion of the tax rate is $2.18 per $1,000, down 26 cents, or 10.7 percent, from the 2018 rate of $2.44 per $1,000.

The county tax rate is $1.10 per $1,000, down 13 cents, or 10.6 percent, from the 2018 rate of $1.23.

The state education tax is $1.96 per $1,000, down 14 cents, or 6.7 percent, from the 2018 rate of $2.10.

The local education tax is $1.91 per $1,000, a four-cent, or 2.1 percent, decrease from the 2018 rate of $1.95.

The town’s total tax commitment is $303,503, or 1.3 percent, more than the town collected in taxes in 2018.

Moultonborough selectmen agreed not to apply any of the town’s fund balance to lower the tax rate further, as voters at Town Meeting already had approved using $1.6 million toward town expenses.

Chair Joel Mudgett said, “The Select Board members are pleased with the reduction in the overall 2019 tax rate which will help offset some of the increases in the 2019 assessed values in taxpayers’ tax bills again this year. Our goal 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 to meeting our goal.”

Tax bills are in the mail, with payment due by Dec. 30. The mailing also included the town’s semi-annual newsletter, containing information about municipal services and the activities of Moultonborough Academy and Moultonborough Central School.