CONCORD — The state Department of Revenue Administration has set 2020 municipal tax rates at $15.03 cents per $1,000 of assessed valuation in Gilford and $19.72 in Laconia.

The rate is $13.58 in Holderness and $17.95 in New Hampton.

More tax rates will be released next week.

The rates are a factor in property tax bills, but government spending is the biggest driver of changes in the amount that will be owed by property owners from year to year.

The state sets the rate by dividing local government spending by the total assessed value of properties.

Gilford’s total commitment for municipal, county, local education and state education this year is $32.26 million, an increase from $32.06 million last year.

Its new tax rate is down 83 cents from the 2019 rate. Taxes vary from property to property, but in the aggregate, they increase to pay for higher spending.

The town's overall assessed valuation increased from $2.02 billion last year to $2.13 billion this year.

If a home were worth $202,000 last year, the property tax rate of $15.86 would have yielded a bill of $3,203. If that same home increased in value to $213,000 this year, the property tax rate of $15.03 would yield a bill of $3,201.

Laconia’s new rate of $19.72 is down from last year’s rate of $20.59.

Last year’s valuation was about $2.2 billion. That grew by $125 million this year with new construction and improvements.

Home values vary widely, but on average, the value of a single family home in Laconia increased 4.75 percent and condominium units increased 6.4 percent.

Such an increase would boost the value of a $200,000 single-family house to $209,500.

With the new tax rate, the property tax bill on that $209,500 home would be $4,131.

Last year’s rate applied to a $200,000 home would yield a bill of $4,118.

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