City Sets Property Tax Rate at $15.20

The New Hampshire Department of Revenue Administration has approved the City’s 2022 tax rate for Fiscal Year 2023 of $15.20 per $1,000 of valuation. The tax rate of $15.20 is $0.17 more than Tax Year 2021, which results in the median single-family home valued at $480,100 will pay $7,298 or $82 more in Tax Year 2022. 

City Manager Karen Conard announced, “The 2022 tax rate increased by $0.17, or 1.6%, from the prior year’s tax rate of $15.03 and is $0.10 lower than the tax rate of $15.30 that was anticipated at the time the City Council adopted the FY23 annual budget this past June.”

Assessor Rosann Lentz reported the total assessed value of the City of Portsmouth exceeds $6.4 billion, a net increase of $94.5 million or 1.5% percent over prior year, primarily due to new construction and renovations within the City.  The median single-family property value in Portsmouth as of April 1, 2022 increased 1.6% -- from $478,050 to $480,100, or $2,050.

Finance Director Judie Belanger noted the net reduction of $0.10 from the estimated tax rate during the budget process was primarily the result of the increase of the Meals and Rooms tax distribution to communities and an increase of the one-time Adequate Education Grant from the State. The City’s share of the Meals and Room tax for FY23 of $1,938,850 is $388,850 more and the Adequate Education Grant of $3,285,215 is $164,215 more than anticipated.     

The newly approved tax rate will be reflected in the tax bills mailed in the next couple of weeks, with the first half due Wednesday January 4, 2023, and the second half due on Thursday June 1, 2023. Again this year, the City of Portsmouth is providing an online tax calculator for residents to use to estimate their tax bill for Fiscal Year 2023. For convenience, the City urges taxpayers to make their tax bill payments online, where they will receive an instant confirmation and receipt. 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 assessed value by filing an abatement application with the Assessing Department. Applications must be filed by March 1, 2023. The Department will issue a response no later than July 1, 2023. 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, 2023. Go to the Abatement Applications or contact the Assessing Department at (603) 610-7249.