Derry Establishes Tax Rate at $28.86
Chief Financial Officer Susan Hickey reports that the NH Department of Revenue has set the Town of Derry’s 2017 tax rate at $28.86. The rate is $1.80 higher than in 2016. Tax bills will be mailed during the week of November 15th with an expected due date of December 13th, 2017.
Property taxes are assessed to cover the cost of county, town and education services. The amount raised by taxation for County services increased 3.9% this year, resulting in an increase of $.04 on the county portion of the tax rate. The Town rate rose 1.6% or $0.14 and the combined School rate increased $1.62, or 9.1%.
The chart below shows the 2017 tax rate as compared with the 2016 tax rate.
The appropriation for Town services funds police, fire, emergency medical services, public works, recreation, public libraries, public health, welfare, planning, code enforcement, the transfer station, water, wastewater, community access TV, and government administration. Public Works services include the purchase, maintenance and replacement of roads, parks, bridges, dams, vehicles, equipment, land, and buildings. Revenues raised by service fees, permits, and grants reduce the amount that is needed to be raised by taxation. Public water and wastewater systems are funded by user fees. Community access television is funded by Comcast franchise fees.
The School District funds support the education of 3,413 students in Pre-School - Grade 8 providing both general and special education services. Additionally, the district currently pays tuition for 1,765 students to attend Pinkerton Academy for grades 9 - 12. This year the School District budget was impacted by an increase in costs for health insurance rates, New Hampshire Retirement System rates and Pinkerton Academy tuition.
The revised net taxable assessed valuation of the Town of Derry for 2017 is $2,810,913,612 compared to $2,772,484,347 for 2016, or an increase of 1.4%.