The selectmen (Lloyd Wood, Bill Marcussen, and Chip Albee) lowered the local tax rate from $2.91 to $2.73 on Monday. However, Tuftonboro taxpayers’ total tax burden will rise 3.3% to $10.77 from last year’s rate of $10.43.
The tax rate is applied per $1,000 in assessed property value, so if your property is valued at $100,000, you will owe $1,077 for tax year 2018.
The rise in the overall rate is due entirely to a 20.5% increase in the tax rate for the Governor Wentworth Regional School District.
The selectmen were able to lower the local rate by taking $350,000 from the undesignated fund (money that was already raised through taxes in prior years but not spent). They are not lowering the tax rate in connection to a corresponding reduction to the town’s budget.
In addition to the local tax, the $10.77 total 2018 tax rate includes:
- $4.23 for local education (Governor Wentworth Regional School District)
- $2.43 for state education (UNH system, etc.)
- $1.38 for Carroll County
The tax rate for local education is increasing 20.5% from $3.51 in 2017, while state education is decreasing 4.3% from $2.54 and Carroll County is also decreasing 6.1% from $1.47.