The property tax rate includes operating expenses for the town, county, and school system. The school component accounts for approximately 75% of the homeowner’s total tax liability:
Line Item | Rate Per $1,000 Assessed Value | Percentage of Total |
Town | 4.32 | 20.4% |
County | 0.93 | 4.4% |
Schools | 15.88 | 75.2% |
Total | 21.13 | 100% |
A number of warrants and articles will be on the March 2023 ballot and these can potentially increase our school tax liability by 17.8% if approved.
A description of articles and tax impact if passed:
Line Item | Description | Tax Rate Per Thousand |
Operating Budget | Current Rate | 15.88 |
Article 12 | Bond for School Addition | 1.74 |
Article 13 | Operating Budget | 0.37 |
Article 14 | Collective Bargaining | 0.29 |
Article 15 | Special Meeting if 14 Defeated | 0.00 |
Article 16 | Staff Salary/Benefit Increases | 0.05 |
Article 17 | Special Meeting if 16 Defeated | 0.00 |
Article 18 | Capital Facilities Repair (from Surplus) | 0.00 |
Article 2 | Operating Budget, Souhegan Cooperative | 0.37 |
Total | | 18.70 |
The Article 12 rate is lower for year one ($0.57) but increases sharply for years 2-25 ($1.74).
The overall town tax rate will subsequently increase to 24.08 if the Amherst operating budget is also approved (4.32 to 4.45, +3%).
The impact of each warrant article on assessed property value is presented below:
This represents a 17.8% increase in school-related taxes. ($7480 - $6352 = $1,128; $1,128/$6352 x 100 = 17.8%).
Remember - this is just the school portion of your property taxes, the full tax impact will be 1.29x higher (24.08/18.70).
References
