NASHUA — With the city’s total property valuation increasing by more than $1 billion from the last count, many landowners could owe much more in taxes the next time payments are due.

This week, Mayor Jim Donchess and members of the Board of Aldermen passed a resolution to spend $4.5 million worth of excess revenue left from the previous fiscal year toward providing some relief for property owners.

Because of this action, Nashua’s current tax rate of $25.79 per $1,000 valuation is expected to be lower.

“The rate is going to drop to somewhere in the vicinity of $21 to $21.50, somewhere in that range,” Donchess said this week.

With the current tax rate, a home valued at $250,000 would have an annual property tax bill of $6,447.50.

If the tax rate is reduced to $21, the bill for the same home would be $5,250.

New tax rates will be set in mid-October, with bills being sent out soon after, likely in mid-November to then be paid in mid-December.

The next regular Board of Aldermen meeting is set for 7:30 p.m. Oct. 9 in the Aldermanic Chamber of City Hall, 229 Main St.

In another matter this week, city leaders agreed to accept grants to pay for two new electric hybrid buses. The grants consist of $1.1 million from the U.S. Department of Transportation and $97,500 from the New Hampshire DOT.

Donchess said these two green machines would be the first electric hybrid buses for Nashua.

“Number two, the drivetrain for these buses is manufactured by BAE (Systems), so in addition to providing greener transportation, we would be helping to support our largest employer here in Nashua,” Donchess said.

Another resolution also received final passage, R-18-075, which establishes an expendable trust fund to accept donations for beautification projects.

With the final passage of this resolution, Donchess will allow Carolyn Choate to start the Beautification Advisory Committee. The committee aims to find a way to be self-sufficient and won’t be draining a dime from taxpayers’ pockets, he said.

With many ideas on how to augment the Parks & Recreation budget to enhance the city, one of the first on Choate’s mind is to put her own money toward installing cigarette receptacles in front of City Hall. Other ideas include adding more floral and shrubbery accounts.

“I know that we do have strict budgets, but this will help make out city more aesthetic than it already is,” Choate said to board members.

Adam Urquhart can be reached at 594-1206 or aurquhart@nashuatelegraph.com.