November 19, 2018
The New Hampshire Department of Revenue Administration has approved the City’s 2018 tax rate for Fiscal Year 2019 of $15.84 per $1,000 of valuation, City Manager John Bohenko announced Monday, November 19th.
The approved rate dropped by five cents from the anticipated tax rate of $15.89 at the time the City Council adopted the FY19 annual budget in June, said Bohenko.
Bohenko said that in order to fund the $113 million budget which was adopted by Council in June (for fire, police, school and general government services for the fiscal year that began July 1, 2018), approximately $87 million must be raised in property taxes with the remainder coming from other revenue sources.
Assessor Rosann Lentz reported the total assessed value of the City of Portsmouth exceeds $5.5 billion, a net increase of $99 million or 1.82 percent over prior year, primarily due to market changes within the City. The median single family property value in Portsmouth as of April 1, 2018 is $424,200.
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 2019. Again this year, the City of Portsmouth will provide an online tax calculator at https://www.cityofportsmouth.com/tax/online-property-tax-calculator for residents to use to estimate their tax bill for Fiscal Year 2019.
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, 2019. The Department will issue a response no later than July 1, 2019. 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, 2019. Abatement applications can be found online at www.cityofportsmouth.com/assessors or by contacting the Assessing Department at 610-7249.