What does my new property assessment mean?

The Select Board has heard from several taxpayers concerned about their new property tax assessment. The purpose of the revaluation is not to raise property taxes. The purpose is to update property assessments to reflect market value as of April 1st, 2019, the beginning of the tax year in New Hampshire, and to assess all properties fairly and equitably throughout the Town.

The real estate market in Dorchester has changed significantly since 2014, which is when the last revaluation was done. Although the overall assessed values have increased, this does not mean your property taxes are increasing. Assuming the Town's budget remains constant, the tax rate should decrease to compensate for the increased assessed values. Therefore, do not use the current tax rate to determine property taxes. Utilizing the total assessed value for the Town and the Town's budget, a new tax rate will be set by the Department of Revenue Administration some time next month ...

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