# Property Tax Information

#### Real Estate Tax Rate

The 2023 real estate tax rate for the City of Franklin is \$16.26 per \$1000 of your property's assessed value.

#### How tax bills are calculated for the July and December bills - RSA 76:15-a

You CANNOT take the total tax due in July or December and multiply it by 2 thinking that is the total tax bill for the current year.

The July tax bill is calculated using ½ of the prior year’s tax rate against the property's old assessed value.
Example: 2022 tax rate is \$24.39 (½ is \$12.20) and the old assessed value is \$235,400 for a July 2023 taxes due of \$2,871.88 (\$235,400 X \$12.20 / 1000).

In November, when the new rate and assessed value are set, the TOTAL tax bill for the year is calculated. The July tax bill is subtracted from it and the difference is what is due in December.
Example: 2023 new tax rate \$16.26 and new assessed value of \$368,800 for a total 2023 taxes due of \$5,996.69 (\$368,800 x \$16.26 / 1000).

2023 TOTAL tax bill                  \$5,996.69
minus July 2023 taxes paid      \$2,871.88
December 2023 taxes due       \$3,124.81

For the July 2024 tax bill, we will take ½ the 2023 tax rate of \$16.26 which is \$8.13 and multiply that by the new assessed value of \$368,800* for a total of \$2,998.34.
*Assuming no improvements/modifications to the property were done and that the property was not subjected to its regular cycle assessment review.

#### Other Related Information

2023 Tax Rate Breakdown

Understanding NH property taxes

NH Equalization Manual

NH Department of Revenue Administration website

Board of Land & Tax Appeals website

2023 Cyclical Revaluation (USPAP)

#### Property Tax Payment

The City of Franklin offers residents an easy and convenient method to view and pay Property Tax Bills Online.