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2023 Revaluation and Tax Rate

2023 Revaluation and Tax Rate

The 2023 Hooksett Revaluation is completed, and the tax rate, set by the Department of Revenue Administration (DRA) based on the Revaluation, is $15.98.  The new tax rate is $8.07 lower than the previous tax rate of $24.05.  The town’s overall valuation has increased from the 2022 town valuation of $2,080,539,306 to the 2023 valuation of $3,167,283,324, or an increase of 52.23%. (See History of Tax Rate and Valuation Below-More historical Tax Rate Info, click here)

The key drivers behind the increased town valuation were where the value of residential homes outpaced the increased value of commercial and industrial properties.  While SFR (Single Family Residential) increased approximately 71%, Commercial increased by 13% and Industrial by 17%.

The delay in setting the tax rate stemmed from proper accounting for the several tax exemptions that Hooksett offers and separating the amount accrued from the Tax Increment Finance District (TIF) based on the new tax rate. Once Assessing, Tax Collector and Finance Department identified and confirmed these issues, staff and DRA were able to confidently set the tax rate within the margin of error set by DRA. We also appreciate DRA’s help and patience, throughout our several rounds of the tax rate setting.

Late Summer and early Fall, Hooksett’s revaluation consultant finished its work.  They provided an extended period of time to meet with property owners who had questions on their new assessment. Now that the tax rate is set and tax bills have been sent, if a property owner disagrees with its assessment, you have the option to apply for an abatement. The filing period extends from the receipt of your second tax bill until March 1, 2024. Please be aware that emailed applications will not be accepted; they must be either hand-delivered or sent by mail.

For any inquiries or concerns, feel free to contact the Assessing Department at 603-268-0003.
Historical Tax Rate