2019 Tax Rate

GOFFSTOWN – The New Hampshire Department of Revenue Administration has approved the 2019 Property Tax Rate for the Town of Goffstown at $24.58 per $1,000 of valuation. This is an increase over the 2018 Property Tax Rate, which included a low Local Education portion due to the one-time return of accumulated surplus of funds last fall.

2019 Tax Rate

 

2018

2019

County

$1.14

$1.10

Local Education

$7.32

$13.28

State Education

$2.00

$2.06

Town

$8.14

$8.14

Total

$18.60

$24.58

Town Portion

The Goffstown Select Board was able to maintain a level Town portion of the tax rate. This was accomplished through targeted use of unassigned fund balance on one-time capital projects approved at Town Meeting, Town revenues coming in approximately $100,000 greater than anticipated during budgeting, a 1.0% increase to town valuation over the prior year, and municipal aid payments included in the State’s 2020-2021 biennial budget.

School Portion – Local Education

In 2018, the Goffstown School District returned over $10M in funds to the taxpayers that was retained in error. This action resulted in a significant reduction in the 2018 Local School tax rate from what would have been $13.23 to $7.32 per thousand - a one-time reduction. Although the local school tax rate was projected to be $14.09 in 2019, a combination of unspent school budget funds, additional revenues from the State of New Hampshire, and other sources combined for an actual local school tax rate of $13.28.  The 2019 tax rate reflects a restabilization to pre-2018 levels.

 

2017

2018*

2018

2019

Projected

2019

Actual

Local Education (per $1,000 value)

$14.63

$13.23

$7.32

$14.09

$13.28

*Denotes what the 2018 Local Education rate would have been without the returned funds.

How to Estimate a Property Tax Bill

If you wish to estimate your property tax bill before you receive it, then you need to use the 2019 property assessment and the 2019 property tax rate. The formula to calculate your next tax bill is:

Tax Rate ($24.58) * Assessed Value / $1,000  -  first half tax bill

The tax bills are expected to be mailed by November 6th, with payments due by December 6th, 2019.