Peterborough’s 2019 tax rate is set at $29.75, down 34 cents from last year’s $30.09 per $1,000 assessed value.
The town portion of the tax rate decreased to $9.85 from last year’s $10.62, the county portion decreased to $1.15 from $1.16, the local education portion increased to $16.66 from $16.19, and the state education portion decreased to $2.09 from $2.12.
Under the new rates, a $200,000 property would be taxed at $5,950.
The rate is $1.14 less than what was initially proposed by the New Hampshire Department of Revenue Administration (NHDRA), which suggested setting the municipal tax appropriation at $10.99.
“Last year was a tough year, assessments went up and the tax rate didn’t really change,” said Finance Director Leo Smith. He said that the Select Board was sensitive to increasing tax rates, so they worked to find a way to deliver a more reasonable number to taxpayers. “…and our fund balance was in a position where we could do it,” he said. The Select Board ultimately opted to transfer $800,000 from the unassigned general fund balance to offset the municipal tax appropriation.
“That’s a fairly significant amount,” according to Assistant Town Administrator Nicole MacStay. The Select Board unanimously accepted the new rate on Friday, Nov. 22