As the town-wide valuation increased by about 83%, Jaffrey’s tax rate has drastically dipped in response, going from $32.80 per $1,000 of value in 2024 to $18.95 this year.
The town’s valuation this year, excluding utilities, is $963,748,484, a large jump when compared to last year’s valuation of $526,644. The town goes through a revaluation of property at least every five years, as required by law.
In response, all four sections that make up the total tax rate have decreased.
The municipal rate this year is set at $6.24, a 40% decrease from last year’s rate of $10.57.
The county tax rate this year is $2.24, compared to last year’s rate of $4.01.
Both the local and state education rates have also dropped. The local education rate is $9.35 this year, compared to $16.22 last year. The state education rate is $1.12, compared to $2 in 2024.
The change in valuation does not account for the entire shift in tax rate, and the owner of a home that went up in value by the average amount in Jaffrey can expect to pay higher taxes this year.
For example, a house valued at $350,000 in 2024, which went up by about 83%, would now be valued at $641,000. In 2024, the annual taxes for that house would be about $11,480. The owner of the same house at the new valuation could expect to pay annual taxes of about $12,146.
The second installment of tax bills for 2025 is not available online and was mailed to residents on Nov. 10. Taxes are due on Dec. 12. Contact Tax Collector Chelsie Thibault with any questions at 603-532-7860 or email cthibault@townofjaffrey.com.