DERRY — The town tax rate has been set and it’s not good news for property owners.
An average homeowner will see a 4.1 percent increase in their tax bills, or about $278 more for a home valued at $232,700.
Town Administrator John Anderson said the new rate is $30.48 per $1,000 of assessed valuation, an increase of $1.40 from last year’s rate of $29.08.
The town services side shows an increase of 2.3 percent, due to rising personnel costs, including labor contract settlements.
Combined school and state education rates increased 6.3 percent, also due to higher personnel costs, tuition at Pinkerton Academy and out-of-district placements.
Less federal money received from the Education Jobs program also caused school tax increases.
Anderson said the tax rate is made up of many parts, some push the rate more than others.
“The biggest drive (this year) is the school increase,” he said.
Anderson said the town’s overall valuation decreased by 6.9 percent, thanks to a townwide valuation update.
The revised net taxable assessed valuation of the town for 2012 is $2,331,939,161 compared to $2,485,998,094 for last year.
“We lost $150 million because we did an assessing value change,” Anderson said. “People will see a reduction in their value.”
The decrease was offset slightly by additional property values totaling $13.8 million, due to new construction and remodeling projects.
Tax bills are scheduled to be in the mail by Nov. 9 and payment is due Dec. 11.