Lower property taxes
Many Nashua property owners are in an uproar after seeing how much values have increased, as they fear astronomical tax bills will result.
In some cases, individual owners watched their valuations increase by as much as 30 percent. The total valuation in Nashua is estimated to increase by more than $1 billion in comparison to the last valuation.
“It’s going to be somewhere very close to $10 billion,” Mayor James Donchess told our reporter regarding the new total estimated value.
Donchess said the current tax rate of $25.79 per $1,000 valuation will likely be much lower by the time the tax rate is set in November. With the current tax rate, a home valued at $250,000 would have an annual property tax bill of $6,447.50.
“The current tax rate will go down,” Donchess said.
We hope Donchess and other city leaders follow through on lowering these tax rates. The last thing Nashua needs to do is anything that would exacerbate its problem with homelessness and high housing costs.
It stands to reason that if a landlord realizes a 30 percent higher property tax bill, he or she will pass that cost along to tenants. Many tenants can barely afford to pay rent in Nashua as it is. Anyone who questions this need only check out one of the city’s homeless encampments.
The next Nashua Board of Aldermen meeting is set for 7:30 p.m. Sept. 12 at City Hall, 229 Main St.