PORTSMOUTH — The New Hampshire Department of Revenue Administration has approved the city’s 2022 tax rate for fiscal year 2023 of $15.20 per $1,000 of property appraisal. It’s 17 cents per $1,000 more than the 2021 tax rate, resulting in the median $480,100 single-family home paying $7,298, or $82 more, in taxes this year. “The 2022 tax rate increased $0.17, or 1.6%, from the prior year’s tax rate of $15.03 and is $0.10 lower than the tax rate of $15.30, which was anticipated when City Council passed the annual budget for FY23 last June,” said City Manager Karen Conard.
Appraiser Rosann Lentz reported that the city’s estimated total worth exceeds $6.4 billion, a net increase of $94.5 million, or 1.5 percent, from the previous year, primarily due to new construction and renovations within the city. The average value of a single family home in Portsmouth increased by 1.6% on April 1, 2022 from $478,050 to $480,100 or $2,050.
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City Treasurer Judie Belanger noted that the net 10-cent reduction in the estimated tax rate during the budget process was primarily the result of increasing the meal and room tax distribution to communities and an increase in the one-time Adequate Education grant . The city’s share of the FY 23 meal and room tax of $1,938,850 is $388,850 higher and the equitable education allowance share of $3,285,215 is $164,215 higher than expected.
The newly approved tax rate will be reflected in tax invoices mailed over the next few weeks, with the first half due Wednesday, January 4, 2023 and the second half due Thursday, June 1, 2023.
Also this year the City of Portsmouth is making an online tax calculator available at www.CityofPortsmouth.com/tax/online-property-tax-calculator to allow residents to estimate their tax bill for fiscal year 2023. For convenience, the City is urging taxpayers can pay their tax bills online where they can get an instant confirmation and receipt at https://www.cityofportsmouth.com/city/pay-my-bill. Payment options in addition to the online payment portal are listed on the back of the tax invoice.
Property owners who wish to contest their appraisals may request a review of their appraised value by filing a request for a reduction with the Valuations Department. Applications must be submitted by March 1, 2023. The Ministry will issue a response no later than July 1, 2023. If property owners wish to appeal the Department of Valuation’s decision, they have until September 1, 2023 to appeal to either the New Hampshire Board of Tax and Land Appeals, or Rockingham County Superior Court. Applications for reductions can be found online at www.cityofportsmouth.com/assessors or contact the Grading Department at (603) 610-7249.