×

Greenville tax rate drops, but property values rise



Monadnock Ledger-Transcript
Friday, November 02, 2018 10:17PM

The Greenville tax rate has dipped, but increased property values may still have some residents paying higher tax bills.

The town’s portion of the tax rate is down by nearly 15 percent this year, reduced from $14.45 to $12.58.

The town portion of the rate saw a big jump between the 2016 and 2017 year, which caused a sudden inflation of the overall tax rate, which shot up from $24.28 to $31.08. 

The 2018 rate has fallen to $29.22, with the largest decrease attributed to a decrease in the town’s portion of the tax rate.

“After last year’s tax rate increase, we made a conscious effort to put forward a conservative budget for 2018 with a 0 percent increase, as well as very limited warrant articles to be raised by taxation,” wrote the Greenville Select Board in a press release issued last week. 

The county portion of the tax rate is also down this year, from $1.29 last year to $1.15 this year, or a 12 percent drop.

The state school portion is also down, from $2.43 to $1.96, a 24 percent decrease.

The local school portion of the tax rate will be increasing, going from $12.91 to $13.53.

In total, Greenville’s tax rate has been set at $29.22. While an overall decrease from last year’s rate of $31.08, some residents will still see tax bills rise due to changing property values.

Greenville underwent a town-wide re-assessment this year. Overall, the town’s valuation increased by nearly 20 percent, according to the Select Board’s release. Single-family and mobile homes saw the highest increases, typically between 15 and 30 percent increase in value, but some increasing as much as by 40 percent.

Most two-family or multiple unit buildings did not increase in value, or saw a slight decrease.

“The effect of this, despite a decrease in the total tax rate, is that some properties will see increased tax bills. Those with the largest increases in assessed value will see the largest percentage increase in their tax bill,” wrote the board.

 

Ashley Saari can be reached at 924-7172 ext. 244 or asaari@ledgertranscript.com. She’s on Twitter @AshleySaariMLT.