Town announces 2023 fiscal year tax rate
The Town of Plymouth has approved the Town’s tax rate for Fiscal Year 2023 of $24.38 per $1,000 of property valuation. The tax rate of $24.38 is $7.06 less than Tax Year 2022; however, due to the properties going through a full revaluation this year, which results in the median single-family home valued at $188,700 increasing to $300,000 (which equates to a 59% increase); most taxpayers will not see a decrease in their taxes for the 2023 tax year.
It is important to remind everyone that sales drive the market value of properties in every Town in NH. The 2023 tax valuation base increased overall from $495 million, to $739 million, an increase of $244 million in property values.
The fund balance of the Town remains at a minimal amount of $331,000 and will be available for future tax rates and in the event of an emergency. This amount is a decrease from the prior year’s balance of $646,480 and is equivalent to 1.5% of the overall recommended fund balance as recommended by NH Department of Revenue.
The newly approved tax rate will be reflected in the tax bills mailed in the next couple of weeks, this will be the final tax bill of 2023 due within 30 days. For convenience, the Town urges taxpayers to make their tax payments online, where they will receive an instant confirmation and receipt. Payment options in addition to the online payment portal will be detailed on the Town’s website of www.plymouth-nh.org or by reaching out to the Plymouth Tax Collector at 603-536-4733.
Property owners who wish to contest their property assessments may request a review of their assessed value by filing an abatement application with the Town’s Assessing Department. Applications must be filed by March 1, 2024. The Selectboard will issue a response no later than July 1, 2024. If property owners wish to appeal the Selectboard’s decision, they may file with either the New Hampshire Board of Tax and Land Appeals, or Grafton Superior Court by September 1, 2024. Questions regarding these forms may be addressed to the Plymouth Assessing Department at (603) 536-1731 x100.
The following table sets forth the Town’s tax rate, by Town, School, and County, for each of the last six fiscal years.
|
Rate per thousand (1) |
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|
Fiscal |
|
School |
School |
|
|
|
|
2023 2022 |
$11.09 $13.28 |
$10.89 $15.14 |
$1.22 $1.36 |
$1.18 $1.66 |
$24.38 $31.44 |
|
|
2021 2020 |
$12.06 $11.40 |
$14.72 $13.32 |
$2.00 $1.81 |
$1.71 $1.96 |
$30.49 $28.49 |
|
|
2019 |
$10.44 |
$13.87 |
$1.83 |
$2.05 |
$28.19 |
|
|
2018 |
$9.98 |
$11.36 |
$2.23 |
$1.73 |
$25.30 |
|
|
|
|
|
|
|
|
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Cc: Selectboard
Office of the Tax Collector
Finance Director
Budget Committee