HOOKSETT — Despite recently announcing that the town’s tax rate has gone up about 5 percent, town officials say they expect 92 percent of residential tax bills to go down due to a recent townwide revaluation that saw residential property values decline 10 percent.
“I think it is always good when people’s tax bills go down, and we will continue on keeping costs down, and while residential property values declined in value around six percent, according the recent revaluation, property values are starting to go up because the market is making a comeback. Keep in mind the revaluation is over a five-year period, and rates really dropped before recently starting to recover,” Town Administrator Dean Shankle said.
The rate increased from $22.34 per $1,000 to 23.48 per $1,000. With the median value of a residential property in 2013 being $231,000, a person with a home of that value can expect a tax bill of $5,192.88. The median value of a commercial property in 2013 is $562,000, which would result in a tax bill of $13,195.76.
“I am not sure what to think, is a taxpayer happy property value has gone down? That might be a concern, but in the short run, having a lower tax burden is certainly going to benefit the residents,” Town Council Chairman James Sullivan said.
However, with recent commercial activity in Hooksett, which includes the construction of a new multimillion dollar rest stop on Interstate 93 and a new Bass Pro Shop, Shankle said that businesses can expect tax bills to go up. Sullivan said that while tax bills will increase for businesses, the fact that the revaluation saw property values in the town increase is positive.
“The business tax bill is going to go up a little, but it’s not significant. So far we haven’t seen a lot of abatement requests from businesses regarding the revaluation numbers, and I think they know businesses know that their property values are going up with all the stuff going on in Hooksett,” Shankle said.
Sullivan said that as a standard practice, the Town Council and town administration work to keep costs down.
“I think most people will be pleased with what we are doing, and hopefully the school board along with the town craft thoughtful budgets for next year,” Sullivan said.
Shankle said that he works hard to keep costs level from budget to budget, and that budget increases are due to costs that the town has no control over, like health care costs.