Nashua Property Tax Rate to Increase by 9.5% Due to State School Aid Shortfall
Residents of Nashua, New Hampshire, are facing a 9.5% increase in their property tax rate, according to city officials. The rate is set to rise from $16.83 to $18.43 per $1,000 of assessed property value, which translates to an estimated $800 increase for a property valued at $500,000. Mayor Jim Donchess stated that the primary reasons for this larger-than-anticipated increase are significant cuts in state aid for the city's public schools and rising healthcare costs. The Nashua Board of Aldermen had initially projected a $2 million reduction in state school aid, but due to declining enrollment, the actual reduction amounted to $4.5 million. Additionally, Nashua schools have had to hire more contract workers, particularly in special education, to address staff shortages.