For Immediate Release
MANCHESTER, NH September 2, 2021–Information released yesterday by the Manchester Board of Assessors showed jaw dropping increases in property values across every residential category. It also showed that commercial and industrial property values rose much less. Because of this, every category of residential property will see increases of various sizes even before the impact of the recently adopted city budget is added to the tax bill.
In response to the massive shift of the tax burden from commercial/industrial properties to residential properties, Manchester Republican mayoral candidate Richard Girard, who warned of the likely impact of the revaluation in a December 2020 Op. Ed., issued the following statement:
“Blaming a revaluation for tax increases is one of the oldest tricks in the book. First, if the whopping 40% increase in the tax base is applied to the current tax rate of $24.66, the resulting tax rate is $17.61. That means when the tax rate is set by the state this Fall, a tax rate of more than $17.61 reflects what Mayor Joyce Craig and the majority of the Board of Aldermen did to increase your taxes. That is in addition to whatever increase residential taxpayers will see as a result of the revaluation, which shows a monster shift from commercial/industrial properties to residential ones because residential property values grew at between two and four times the rate of the commercial/industrial values.
“Because this information has many people worried about how much their taxes are going to jump, I’m calling on Mayor Craig and the Board of Aldermen to direct city staff to complete and submit the necessary paperwork to set the tax rate by no later than October 20th. That gives enough time for the revaluation appeals process to conclude and for the relevant city and school information to be completed and sent to the state Department of Revenue Administration.
“Even before the tax increase projected in the current budget is applied, every residential property category in the city, including large scale apartment complexes otherwise considered commercial property, will see their taxes go up by varying percentages, except mobile homes. People should know how hard they’ve been hit by the tax man before they go to vote. The city can, and ought to make sure those tax bills arrive before people vote. This has the potential to stunt the growth of residential property values while driving rents higher as property owners move to recover their dramatically higher taxes.
“Now, more than ever, it’s imperative that people elect a mayor who will get spending under control. In addition to this, we’re headed for a $30 million shortfall thanks to Mayor Craig’s use of grants and other one time money to expand city operations and plug holes in the operating budget. We need to get our fiscal house in order before we go over that fiscal cliff. As mayor, I’ll do what it takes to reign in runaway spending and hold the line on taxes.”