MANCHESTER, NH — The final tax rate for the city of Manchester was set Nov. 13 at $23.44 per thousand. This represents a .26 percent decrease in FY 2016 from the actual FY 2015 tax rate of $23.50 per thousand. The anticipated proposed tax rate set by city Aldermen in June was $23.81 per thousand.
For a home assessed at $200,000 that would mean about $12 per year savings.
Net assessed valuation for the city increased by $138.9 million from 2015, according to city Finance Officer William Sanders. Mayor Ted Gatsas credited the city’s “vibrant” economic development.
“I am pleased that city residents will realize a decrease in their property tax bills this year. This comes as a direct result of a significant increase in the net assessed property valuation within the city, predominantly in commercial building and utilities,” said Mayor Ted Gatsas. “This is further proof that economic development is vibrant in the city and we continue to foster a climate for business to grow and thrive.”
The new tax rate will be reflected in the first tax bill for FY 2016. A breakdown of the tax rate and correspondence from William Sanders, Finance Director for the City of Manchester, is available below: