Nov. 8, 2013
PORTSMOUTH -The New Hampshire Department of Revenue Administration has approved the 2013 tax rate for Fiscal Year 2014 of $17.91 per $1,000 of valuation, City Manager John Bohenko announced Friday.
The approved rate is 36 cents, or 2.05%, above the FY13 rate. This approved rate is the same as itwas estimated during the development of the City's Fiscal Year 2014 budget which was adopted bythe City Council in May based on projected property values and the estimated county tax.
Finance Director Judie Belanger said that in order to fund the $92.8 million budget for fire, police, school and general government services for the fiscal year that began July 1, approximately $70 million must be raised inproperty taxes with the remainder coming from other revenue sources.
The total assessed value of the City of Portsmouth is just over $4 billion, an increase of $52.8 million or 1.3% over prior year, primarily due to modified valuations and growth within the City.
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 June 1, 2014. Again this year, the City of Portsmouth will provide an online tax calculator for residents to use to estimate their tax bills now, as well as the assessed values for Fiscal Year 2014.
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, 2014. The Department will issue a response no later than July 1, 2014. 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 September 1, 2014. Abatement applications can be found online at www.cityofportsmouth.com/assessors or by contacting the Assessing Department at 610-7249.