Durham could see 28 cent tax increase - larger increases in 2012-2013

Here is the official word for next year's tax rate. However, it seems the next 3 years could see more increases. This is a note from Durham's Town Administrator in a letter to the council. The entire letter is found here - http://ci.durham.nh.us/generalpdfs/budget_summary_letter.pdf

"Given historical expenditure and revenue trends, an annual municipal tax rate increase of between 3% and 5% was projected as being necessary in order to maintain sound fiscal health for the municipality without loss of service or undesired one-time adjustments (spikes) in the rate. Instead, prompted in large part by the Great Recession, the Administrator and Council together have held the line on spending/tax increases on the municipal portion of the tax rate equation. Unless there is a structural change moving forward, an average increase of 6% or more over each of the next five years is projected (see attached 10-year General Fund fiscal forecast). FY 2012 actually projects an 8.32% increase followed by 8.68% in FY 2013."

From Fosters...

Thursday, October 28, 2010

DURHAM — The town's property tax rate is increasing slightly.

Town Administrator Todd Selig said the town was notified recently by the state Department of Revenue Administration, who gave him an unofficial 2010 property tax rate of $27.28 per $1,000 of assessed property value.

Selig noted that while the rate is unofficial, it rarely changes.

That's up 28 cents, or one percent, from last year's amount of $27 per $1,000 of assessed property value.

The breakdown of the tax rate is as follows:

The town's portion is $7.12, which is 26 percent of the rate.

The school district's portion is $17.62, which is 65 percent of the rate.

The county's portion is $2.54, which is 9 percent of the rate