Quote:
Originally Posted by ezrasuncle
I just saw the property tax sheet for NH. Is Newport REALLY 38.93 per thousand??? That seems incredibly high. In fact, according to the table, it's the highest rate in NH. Can someone verify this?
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Thats the Total Tax Rate. Your actual rate will be lower.
See
Newport, New Hampshire (http://www.nhes.state.nh.us/elmi/htmlprofiles/newport.html - broken link)
In this 2005 example, you would have used the "Full Value Tax Rate" of 15.66 rather than the "Total Tax Rate" of 30.8. This is because of the Equalization ratio of 50.8%
Someone else can probably better explain, but basically apply the equalization rate to the assessed property value and then apply the Total Tax rate.
E.g. on $200,000 assessed:
$200,000 x 50.8% = #$101,600 x 0.0308 = 3129.28 (rather than $6160)
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