New Ipswich’s tax rate is up by $1.29 per $1,000 of valuation this year, in an increase mostly attributed to rising local school costs.
The total tax rate for New Ipswich this year is $23.51, compared to $22.22 last year. A homeowner with a property valued at $200,000, if that valuation did not change from last year, could expect to pay about $258 more in taxes under the new rate.
The town’s portion of the tax rate is set this year at $4.08, a 15-cent increase from last year.
Town Administrator Debbie Deaton said the Select Board voted to use $350,000 of the town’s unexpended fund balance to offset taxes this year. Had the board not used those funds, the tax rate would have been about 70 cents higher, Deaton said.
Deaton said one of the contributing factors in the rise in the town’s rate was a lack of expected revenue for the town this year.
The county portion of the rate also increased by about 7 cents, going from $1.05 to $1.12.
The local education portion of the tax rate saw the biggest increase, jumping from $15.41 to $17.01, a $1.60 difference.
The cost of the state education tax offset some of the increases, decreasing from $1.83 to $1.30, a 53 cent difference.
Tax bills in New Ipswich have been mailed, and residents should have received their bills no later than Wednesday, Nov. 30. Taxes are billed twice a year, and the upcoming payment is due Dec. 1 or the next business day.
Ashley Saari can be reached at 603-924-7172 ext. 244 or asaari@ledgertranscript.com. She’s on Twitter @AshleySaariMLT.