City property tax rate goes down, tax bills go up after recent revaluation

ROCHESTER - Based on data from recent market sales, single family home values in the city increased by a median of 17 percent and will see an average property tax bill increase of $204 this year, according to a statement released today from the City Manager's office.

The city's Department of Revenue Administration recently finalized this year's tax rate following a significant rise in most property values in Rochester, the statement added.

The tax rate for property taxes to be billed this December has been set at $24.90 per thousand dollars of property value, a $2.62 reduction from the prior year. This is the lowest tax rate the city has had since 2011. The reduced rate was partly caused by a rise in property values and also an increase in revenues collected by the city, such as Motor Vehicle Permit Fees, officials said.

City Manager Blaine Cox said residents should be buoyed by the fact that Rochester property values have risen.

"The increase we've seen in property values is a great indicator of positive growth in our city, and for that, we're thrilled," Cox said. "We have a lot of wonderful initiatives ongoing to foster a thriving economy in Rochester, and our property values, budget and tax rates reflect those efforts."

The city's Assessing Department recently completed its 2019 Full Statistical Revaluation of all city properties, which saw a median increase in property value of 15 percent across the board.

"All current and relevant market data was properly analyzed in the 2019 Full Statistical Revaluation in an effort to equitably appraise all real property to its full and fair market value," said Deputy City Manager and Director of Finance and Administration Katie Ambrose. "The last full revaluation was completed in 2014. These numbers show us that property value in Rochester is largely increasing, which is consistent with recent real estate sales activity."

The median assessed value of a single family home prior to the revaluation was $179,150 and would have received a 2018 tax bill totaling $4,930. However, after the revaluation the average single family home assessment has increased to $206,200 and will receive a 2019 tax bill of $5,134.

The City of Rochester aims to distribute tax bills before the holidays, and final 2019 tax bills will be mailed by Dec. 16 and are due 30 days from the mailing date.

Additional information on the 2019 Full Statistical Revaluation and a video explaining the role of assessors can be found at www.rochesternh.net/assessing.