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PORTSMOUTH – The New Hampshire Department of Revenue Administration has approved the city’s 2021 tax rate for Fiscal Year 2022 of $15.03 per $1,000 of valuation.

City Manager Karen Conard announced, “The 2021 tax rate has increased just $0.33, or 2.2%, from the prior year’s tax rate of $14.70 and is lower than the tax rate of $15.07 that was anticipated at the time the City Council adopted the FY22 annual budget this past June due to an increase in revenues coming to the city from the state, particularly the Rooms and Meals tax.”

Assessor Rosann Lentz reported the total assessed value of the city of Portsmouth exceeds $6.3 billion, a net increase of $97 million or 1.5% percent over prior year, primarily due to market changes within the city. The median single-family property value in Portsmouth as of April 1, 2021 increased less than 1% -- from $474,900 to $479,300, or $4,400.

Finance Director Judie Belanger noted that the tax rate of $15.03 means the median single-family home will pay $7,203 in Tax Year 2021, compared to $6,981 in 2020.

The newly approved tax rate will be reflected in the tax bills mailed this month, with the first half due 30 days after they are mailed and the second half due in June 2022. Again this year, the city of Portsmouth will provide an online tax calculator at www.CityofPortsmouth.com/tax/online-property-tax-calculator for residents to use to estimate their tax bill for Fiscal Year 2022. For convenience, the city urges taxpayers to make their tax bill payments online, where they will receive an instant confirmation and receipt at www.cityofportsmouth.com/city/pay-my-bill. Payment options in addition to the online payment portal will be detailed on the back of the tax bill.

Property owners who wish to contest their assessments may request a review of their value by filing an abatement application with the Assessing Department. Applications must be filed by March 1, 2022. The department will issue a response no later than July 1, 2022. If property owners wish to appeal the Assessing Department’s decision, they can file with either the New Hampshire Board of Tax and Land Appeals, or Rockingham County Superior Court by Sept. 1, 2022. Abatement applications can be found online at www.cityofportsmouth.com/assessors or by contacting the Assessing Department at 610-7249.

This article originally appeared on Portsmouth Herald: Portsmouth sets city property tax rate at $15.03 per $1000 of assessed value

Source : https://news.yahoo.com/portsmouth-sets-city-property-tax-182442688.html

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