Exeter Property Tax Bills Increase

The following is from the Town of Exeter:

The Department of Revenue Administration has certified Exeter’s tax rate for 2013 at 26.03 per 1,000. This is an increase of eleven cents, or point-4 percent over 2012.

The Town share of the tax rate dropped 20 cents from 8.01 to 7.81 per 1,000. The local school rate increased by 31 cents from 14.37 to 14.68 per 1,000. The state education rate dropped by 2 cents to 2.44 per 1,000. The county tax rate increased by 2 cents, going from 1.08 per 1,000 to 1.10 per 1,000 of assessed value.

The Town’s total net taxable base increased by 1.87% or a little over 29 million dollars. This was due to several factors including a recertification of elderly exemptions which added 5 million dollars to the base, and the completion of the Cobham expansion on Continental Drive, which added several million dollars to the commercial tax base.

In addition to the usual local revenues, the Town applied 596,063 in unassigned fund balance to lower its share of the rate. Earlier in 2013, the Selectmen voted to use surplus returned as a result of the Secretary of State’s order to the Local Government Center to reduce 2013 property taxes. In addition, the Town used 95% of the EMS fund surplus to lower the rate, and 25% of the unassigned available fund balance.

“Originally we had projected a tax rate of 8.33 if all the warrant articles passed in 2013, and virtually all of them did” said Town Manager Russ Dean. “However since that time the LGC surplus materialized and that gave us over $300,000 to return to taxpayers, and the EMS fund surplus was certified. This helped our overall situation this year.”

As a result of the new rate, property owners with a $300,000 home will see an approximate $33 increase in their tax bills. Questions about individual bills and pre-payments can be made to the Tax Collections office at 778-0591, x108 or by email to lfecteau@exeternh.gov. Tax bills are expected to be mailed soon to taxpayers.