Property Taxes and Assessed Values
Current 2022 tax rate: $19.50 per $1,000 of property valuation (2023 tax rate will be issued by the NH Department of Revenue in late Fall of 2023.)*The tax rate is adjusted each year based on the actual spending of the Town and School that is approved by the voters each March. The tax rate is set by DRA, NOT the Town of Allenstown.
*Because the total amount of money that the Town/School needs to raise each year generally doesn't change by a drastic amount, the tax rate is usually adjusted to be lower when assessed property values are high and to be a higher rate when assessed property values are low, resulting in approximately the same total tax dollars being raised. (It is preferable for most homeowners to have higher assessed property values and a lower property tax rate in most situations)
To check your assessed value online, Click Here. *All property values must be reassessed by the Town Assessing Department to reflect actual market sales values at that time, once every 5 years, by law. The new property values are calculated by using ACTUAL recent sales prices of similar properties. The Town does not get to form an "opinion" of the properties worth. Only actual sales data for comparable properties is allowed to be used when updated assessed values are being calculated. The Town has no influence over the sale prices of Allenstown properties. The next town-wide revaluation will happen in 2027.
For information on property tax relief and financial assistance, Click Here.
Property tax bills are issued twice a year in Allenstown, usually due on July 1st and December 1st of each year. However, the actual tax year runs from April 1st through March 31st of each year.
The July 1st first half-year bill, represents the period of April 1st through Sept 30th. The December 1st second half-year bill, represents the period of October 1st through March 31st.
NH Department of Revenue Administration sets our actual tax rate for the year every Fall, usually in the months of October or November. Hence, your July 1st bill, is only an estimate of the first half of the total taxes that may be assessed for the entire year. This estimate is based solely off your actual property tax bill from the previous year.
Once we have the actual tax rate from DRA in the fall, you are sent your final December 1st tax bill for the true property tax liability assessed for the entire year. The amount due in December represents the total taxes assessed for the whole year minus your first half-year estimated tax bill amount that was issued in July. You are billed for the difference between the two amounts.
EXAMPLE: Your 2022 taxes for the whole year (the 2022 July bill of $1,590 + the 2022 December $2,000 bill) were $3,590, as determined by the 2022 tax rate set by DRA in the fall and the town assessed value of your property. Take that total amount and divide by 2. ($3,590 billed for whole year of 2022 / 2 = $1,795) Your 2023 July 1st bill will be for $1,795. When DRA sets the actual tax rate in the fall of 2023, your actual full year 2023 tax liability will be calculated. Lets say it comes to $3,700 for the full year of 2023 based on your property's assessed value and the 2023 tax rate that is set by DRA. You will then be billed for the total amount owed, minus the previous amount that you have already been billed for in July. (2023 full year tax burden of $3,700 - 2023 July bill of $1,795 = $1,905 as the 2023 December bill)
For detailed information on how your tax bill is created, read Understanding the Calculation of Your Total Tax Bill, and Budgeting, elections, and the tax rate setting process.
*Property tax assessments, credits, exemptions, abatements, tax appeals, current use, timber and excavation tax assessments are handled by the Assessing Department.