How will my taxes change as a result of the new assessment?

Although the value of your property affects your share of taxes, the actual amount you pay is determined by the budget needs of the schools, municipality and the county. All of these taxing units decide what services they will provide in the coming year and how much money they will need to provide these services. These items are then presented to the Board of Selectmen and the School Board for approval or disapproval. Once the decision to approve the budget is made, a tax rate is set by the state that will generate the needed dollars. Your property taxes are then determined by taking your assessment, dividing by 1000, and multiplying by the tax rate.

Example: Assessed Value $250,000 divided by 1000 = 250 multiplied by Tax Rate $15.49 = $3,873 annual taxes