NEWINGTON TAXES EXPLAINED

NEWINGTON TAX RATE INCREASE

Newington residents:

You might be asking: Why has my tax bill increased?

There are two factors that are contributing to our tax bills increasing by $.07 this year.  They are:

1. The State of NH requires all communities to complete a revaluation every five years.  This was our year.  From 2017 through 2019  there have been 21 real estate sales.  The difference between the old assessment and the new assessment are increases for residential of 15% and commercial 20%, respectively. The increase in actual sale price drove the increase in assessed value.  There is a state review (check and balance) system in place to insure the local calculations are reviewed and correct before the tax bills are sent out.

2. In addition to this, our two electric generation power plants are losing value.  You might have read about this in our Newsletters over the last year.  The power plants make up 50% of our tax base.  Even though we have reduced the power plants’ assessments they are challenging us in court and the Selectmen have put funds aside in the event the power plants prevail.  These set-aside funds are also part of the $.07 tax rate increase.

Should you have any questions please feel free to schedule an appointment to speak or meet with the Town Assessors (Susan Henderson or Jay Ferreira) at 436-7640.  They are glad to meet with you at your convenience.