Tax rate down, home values up in New Ipswich

  • New Ipswich Town Office Staff photo by Ashley Saari

Published: 11/20/2019 3:49:54 PM
New Ipswich tax rate drops

The New Ipswich tax rate has dropped significantly, but with home values rising, many residents won’t see much of a difference in their tax bill.

The total tax rate for New Ipswich plummeted this year, reducing by $6.23 – dropping from $28 per $1,000 of value in 2018 to $21.73 this year. 

One of the reasons for the drop is the revaluation of property in town. The total valuation of properties in New Ipswich increased by nearly $100 million compared to last year. So, despite the lower tax rate, those homeowners whose property value went up will see tax bills similar to last year.

Portions of the tax rate dropped across the board. 

The municipal portion of the tax rate dipped from $5.50 to $3.87, a 29 percent drop.

The county portion decreased by 23 cents, from $1.22 to 99 cents, or a 19 percent drop.

In the education portions, both the state and local education portions of the tax rate decreased. The state education portion dropped from $2.28 to $1.82, a 20 percent difference, which the local education portion dropped from $19 to $15.05, or 21 percent. 

— By ASHLEY SAARI


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