Why did my tax bill go up (or down)? (11/18/2023)

A property tax bill equals the tax rate times one thousandth of the assessed value. As a result, tax bills go up or down as a result of changes to assessed values and/or the tax rate.

Tax Rate

In the simplest terms the tax rate is equal to the funding approved for the school/town/county divided by the total assessed value times 1,000.

Funding Approved for the School/Town/County

Barrington residents vote on school and town budgets (and additional appropriations) each March. Each town warrant article lists a projected tax rate impact. Voters decide (through this process) most of how much money needs to be raised by property taxes. County funding is approved by the Strafford County Delegation, which is comprised of all state representatives from the county.

Increases in appropriations (or decreases in other revenue) can increase tax bills. Decreases in appropriations (or increases in other revenue) can decrease tax bills.

2023 Town/School Meeting Results: www.barrington.nh.gov/2023warrant.

Assessed Value

The largest basis for taxation in New Hampshire is property taxes. This model ties the proportional taxes a resident pays to the assessed value of their property. The assessed value should simply reflect the fair market value of the property. Keeping assessed values current ensures that each property owner shares an equitable portion of taxation relative to their property values. Properties which are worth more money pay more taxes.

Renovations/additions/demolitions all change property values. This could increase or decrease a tax bill based on how the modifications change the fair market value of the subject property.

During a revaluation, property values are reset to match fair market value. Just as the real estate market fluctuates, so too does the value of different properties. A revaluation will result in a statistical distribution of changes to property values around the average. In 2023, the average increase in value was 30%. Properties that changed less than 30% will share less off a tax burden and properties that changed more than 30% will share more of a tax burden.

Revaluations are performed as needed or at least every five years; if the real estate market moves up (or down) more than 10%, the Select Board considers performing a mid-cycle revaluation.