New Assessment rates have been released for 08 and most residents by now have received their new numbers via mail this week.
Being a realtor in this town, I have seen home values sliding for two years now and can tell you that Derry is not alone in this situation. Unless you live in a cave and don't see the daily news reports of forecloses, and short sales you know that all across America we see how things have changed over the last few years.
Some are quick to blame elected officials for bad times when the educated people in economics understands that these things happen in cycles.
If you look over time, you will see periods of growth and periods of no growth and tough times. The older we get the more we can look back and see these "cycles".
Getting back to the towns assessments, I have had over a dozen people ask me how this affects them and their property taxes. Its not an easy science to explain, however even though values have gone down does not mean you will be paying less taxes. Its gets re-distributed and what will happen next is the TAX RATE will go up.
The question on how much they go up depends on many different factors such as other categories such as commercial property going up or down in values as well as many other classifications. Derry's problem is again we are 85%-90% RESIDENTIAL and not much commercial/industrial to help take burden off of single family homes.
Stay tuned for the rate as it will need to be set in the fall.
Keep in mind that School and town increases will also play a part in the rate and any exemptions that are given MUST be made up from people who do not get them!!
I would be happy to explain if any questions? Please understand that I am not an expert in the field and you can call the assessors dept at town hall for specific questions. The town's phone number is 603-432-6100.
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37 comments:
I think the # is 432-6100
Thanks for that correction!
I wonder what that derelict place on the corner of High and Maple St. reassessed at? I hope some punk kids torch that place some night.
Brian, at a past Town council meetings, there has been a request of our town administrator to have the town assessor,Mr.Gomez to review the fair market value of the larger apartment complexes. I believe he was to compare these with Salem , Manchester and Nashua.
Once this is done then we can put the argument to bed as to whether or not they are paying their fair share of the Town and School taxes.( I suspect not)
I would also ask the T.A. to commit to a date on responding back to the council.
I would like to see the assessed values of homes owned by town officials published.
poor derry taxpayer,
Go to www.derry.nh.us (towns website) go to new assessed values and enter your favorite town officials last name. Poof! You can see assessed values for any home in Derry.
I would prefer a tax assessment hold from some length of time, like 7 years. This would remove the fluctuating values and give a town an income it can count on.
I do not believe a town should make up for the loss in tax income by increasing taxes in other areas.
I am not sure when a decision was made to have assessments made yearly, but I bet it was when home value was increasing.
This type of thinking reflects short term thinking. And the future of our town should not be left to those who do not understand the value of long term thinking.
Nick Arancio
Nick,
The town is required under state law to re-assess every 5 years. The values on homes (should) reflect the present market(or between 95-105%)
Derry will do 20% of the town every year for years 1-4 and then do a 'town-wide" reval in year 5.
This way you should not see major swings in your taxes from year to year.
Also keep in mind that Derry already knows how much tax money is needed to run the town. Lets say it is 32 Million. That number is fixed and so when values change, it's the rate that will change with it to reflect the money that needs to be raised.
** note, it is more complicated than this basic explanation however this will give some an idea how it works.... other factors play into this as well****
anon 8:15,
I will check up on that!
Brian,
Was the reassessment just for 20% of the town or were we in a town-wide year?
anon 2:33,
It was done town wide!
BC, for once you're exactly right! The Town needs X amount of dollars to run. If the home values go up, the tax rate drops. If the home values go down, the tax rate goes up. I hope no believes because their assessment went down they will be paying less in property taxes. The bottom line is the amount of money you will be paying to the town for your property taxes is going to increase. The only time it won’t increase is if you belong to one of the special interest groups that we like to give tax breaks to. How does the Town make up for that lost income to the special interest groups? They tax the remaining population more. Get your wallet ready!
11:47 perhaps we should tax based upon services used. That seems fair. That way the elderly (one of the special interest groups you refer to) would pay even less. We could also do that for fire coverage. Some parts of town are using way more than their share of fire calls. I'm getting a bit tired of subsidizing households with lots of kids living in the Fairways.
Oh yes, whatever you do don't consider the possibility that the town REDUCE its spending under any circumstance. We taxpayers can go without vacations and fight off foreclosures but the town could never actually cutback.
Hey BC, why do you think there was no begging for voter turn out this time around?
anon 5:26,
My opinion? I think with the tv ads and mailings we all have been getting on the bigger races (President, Senate races) most people are "worn out" with political ads and calls. 2nd its the Primary race which typically is a lighter turn-out. Novemebers race will be different. I willing to say we will be bombarded and then March town elections will also be important and most of the political forces don't want to "burn out" the voters!
Sir,
Please excuse the stupid question but will Hampstead and Chester also see an increase in their contributions to supporting our schools? Will their property taxes increase as well? If not, why?
anon 8:29,
Please call me BC. Chester and Hampstead send their children to Pinkerton Academy for grades 9-12. Pinkerton is a semi-private school with contracts in each of these towns and Derry. If they increase tutions, then Chester and Hampstead will have to pay those increases as well.
BC, FINALLY you realtors on the council and your political friends are feeling the pain of the rest of the taxpayers in Derry. I wonder how this will effect your future decisions to spend our hard earned money!!!!!
anon 8:30,
I don't know what you mean by finally realtors and political friends..
BC
OT
I headed down to the Derryfest Saturday and we figured we'd walk to the downtown thinking something was going on down there and it surprised me to see so many empty stores with an atmosphere of a ghost town. Any results on that mainstreet study yet?
anon 11:48,
The results will be "rolled out" in October. I too,look forward in seeing these results!
11:48
If the downtown was a lucrative idea businesses would flock there.
Also we would not have to hire town employees to waste time and $$ attempt to make it lucrative.
People rarely shop downtown anywhere. We no longer have horse and buggies, with the advent of the horseless carriage malls have been built and frequented.
If anyone thinks the downtown areas should flourish, then open your own business there.
You will quickly find out you made a poor investment however don't go to the town for a bailout.
Lets stop this foolish idea of businesses downtown. No one will gain from it, we will all lose tax dollars to those selling this idea.
Don't fall for it.
11:48 I betcha didn't see our town adminsitrator OR Ms Thompson our Economic Dir.at Derryfest Now wouldn't you think they would show some interest in such a big annual town event? Perhap Ms T could have done some networking there....She sure isn't doing it Monday-Friday. Why don't you call HER and ask HER why we have empty stores. You may luck out and reach her. I won't suggest calling Mr. Stenhouse.He's never in.Go ahead...Call her 432-6100
A quick question, what does Beth Thompson do all day?
....Ms T's number is 432-6100. Ask her yourself, and while you're on the line see if Mr. S is available...It just might be your lucky day!
I agree that we should let the downtown die a death...it's almost there now. There's already too many people in this town and I'm not for anything that could attract more. Let them all move to Hampstead, Chester, Windham or Londonderry. Heck, their lots are bigger, their houses are nicer, their taxes are lower and their locations are better. Let those communities get built up and let the colleges and biotechs follow. DO NOT support businesses in the downtown or anywhere else in Derry. Yes, let Derry die. Strive to become the town known as the bowels of Southern NH; we're headed there anyways we might as well stay on course. Eventually my taxes will go down; right?
The only Town official I saw at DF was BC.
Where were all our local officials and Pols at such an important town pride event?
Kevin Coyle, Ken Gould, and Frank Sapareto were also at DerryFest.
That's what you get for hiring folks that don't live in town, pay Derry taxes etc. They're sometimes working from 8:30-4:30 collecting 'your' taxes dollars then heading back out of Derry. They have no connection or commitment to Derry other than their paycheck.Now Chief Klauber has established a resistance here in town and he is an active memeber of the community. Stenhouse, Thompson (or even the HR fella) don't do the same.
what you get for hiring folks that don't live in town, pay Derry taxes etc
While this may be a consideration I can also see someone living in town and citizens falling for their wasteful spending. This would be under the assumption, " well they live in Derry and know it will increase their taxes, yet they are for it".
If you add the total tax increase they would incur and subtract it from their ridiculous salary, its peanuts.
Peanuts is a very small investment for them to make, in fact the peanuts are what they would save on gas alone, commuting.
We need to examine each expenditure on its own merit.
What's the last thing that Saperato or Gould has done to benefit this Town?
Anon 3:20 Volunteered their time. What have you done?
p.s. That doesn't mean I agree with them on issues.
Poor Derry taxpayer - you are exactly right! For example we would be far better off to have a competent town administrator who commutes from many miles away than limit our search (as we have done) to people willing to establish a residence here in town. We need the best people working for us, and forget the fact that misery loves company.
Just drove by PA and saw dozens of Republican signs, legislator plates and flunkies milling about. What do you think was on their agenda? Help for our towns and our state?
No, of course not. It was a political strategy session wherein this "brain-trust"
does what it does best, which is to slap one anothers back while emerging like locust every few years for the next election.
Only question I have is where are their Democrat counter parts swarming? You see these do nothings depend upon one another to survive by drawing issues between themselves hungry for the next vote. But in the end they end up getting nothing done and at our expense.
Prove me wrong. Are we heading in the right direction as a state? Better yet, where are we headed as a state?
6:21 are you running or just bitching about things? If you are suggesting that we could use a third party, I agree.
Therein lays the problem with a citizen legislature. Within the State of NH we have many, many competent qualified business people, professionals, and a generally dedicated citizenry who would greatly benefit the State / Town as politicians and legislators. The issue is who can afford to give up their profession or take the time away from their profession in order to serve? I would love to be able to serve the state or town in the capacity as a Council Member or State Legislator. However, my profession does not allow me the time. I would soon be an unemployed Council Member or Legislator. I commend anyone who is willing and able to serve their community. The point I’m trying to make is we have to make the best with what we’ve got. It might be naïve, but I believe that elected officials ran for office in the first place because they wanted to the best they could for their constituents.
I don't quite get the sentiment to let downtown die. Also the sentiment to have less people.
1) If downtown "dies" the tax revenue from all those commercial buldings will decrease along with the value of the proprties thus increasing taxes for all residents.
2) If you bring in more people and build apartment complexes to house them I agree but a single family home will help alleviate the tax burden in most cases. Realize the single family homes make up for the undertax of the large apartment complexes, which assessed value will never equal the resources the people in these apartments use.
3) Any area of the town, downtown or otherwise, that can bring people in to spend money helps the local economy, and everyone in general. A top notch restaurant brings in someone from Manchester to eat and maybe notice a shop they would have never shopped at while heading for dinner.
I also believe the population size has actually decreased over the past few years in Derry.
We need managed growth to bring in middle class and affluent families to single family homes, and we need to maximize commercial development to increase the percent of tax burden on Commercial properties and create jobs.
The fact that the Sanmina plant, now that Wal-Mart is not moving, has sat empty for so long is a major failure of the town government and the Economic Development Corporation and economic director. Such a prime piece of real estate needs to be developed into some commercial use with middle income jobs.
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