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Monday, February 25, 2019
Property taxes could increase by 7%
By Norm Silberdick @ 9:30 AM :: 925 Views :: 0 Comments :: Letters to the Editor
 

The tax chart which shows the growth of spending and its affect on the average home owner’s tax bill. The chart shows a rapid increase in spending over the past few years without any restraint by the Board of Selectmen. One key point that needs to be made is that if all the 2019 warrant articles proposed for the schools and town are passed your taxes will increase by 7% but if you agree with our recommendations then your taxes will increase by a reasonable 2.5%. The reality is that if voter apathy continues as it has in the past, your taxes will increase in an uncontrolled manner. It is strictly up to the voters whether special interest groups will continue to prevail.

The 1992 – 2018 chart reflects the 2019 taxes on a single-family home with an average assessment of $412,000, should all warrant articles pass. See the bullets below.

  • The calculations on the tax rate assume a 1% increase in the total taxable valuation, the increase last year was .88%.
  • The total tax rate, not including the Village District, would increase from $17.02 to $18.22, a 7% increase.
  • The Municipal tax effort is the biggest factor in the overall increase and would rise from $21 million to $24 million or 14% if all articles pass. Proposed spending, including amounts funded by the UFB, would increase by $3.2 million over the amount approved by the voters in 2018. The municipal tax rate would increase from $6.27 to $7.09.
  • Proposed SAU90 spending would increase from by over $700,000 or a 3.2% increase.
  • Proposed WHS spending would increase by over $1 million or a 4% increase. Hampton’s portion is estimated at 42% or a $460,000increase.
  • The total tax rate for the schools, which combines SAU90 and WHS’s spending and is the combination of the “local-ed” and “state-ed” on the tax bill, would increase from $9.73 to $10.08, a 3.6% increase. As an aside, there has been no state tax for over 10 years, all school taxes are driven by local spending, all funding from property taxes stays in town.
  • The county tax rate is estimated at a 3% increase, based on historical increases.
  • Taxes on an average single-family home would increase from $7,024 to $7,519, almost a $500 increase. Going back 5 years to 2014, taxes will have increased by over $1,500 or 26%.
  • At a compounded 7% rate of increase taxes on an average single-family home will exceed $10,000 in another 4 years.

 

 

 

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