TAX EXEMPT IN HAMPTON

As of December 2024, and 2023, respectfully, the total assessed value used for the town of Hampton was $6,418,456,400 and $4,226,861,900, included in those numbers are $298,037,400 and $245,355,800 in tax exempt properties.

The total taxable valuation of the town went from $3,953,299,000 in 2023 up to $6,080,900,100 in 2024, these figures exclude the exempt properties and any tax exemptions granted by the town (elderly, blind, disabled, veterans...) For years ending 2024 and 2023 these exemptions were $39,518,900 and $28,207,100, respectfully.

The increase in exempt properties from 2023 to 2024 was $52,681,600 or 22%,

the increase in exemptions granted from 2023 to 2024 was $11,311,800 or 40%, YET the increase in taxable properties increased $2,127,601,100 or 54%. As we can see, the amount of missed revenues from the tax-exempt properties, (state owned, town owned, school owned, court owned) in the town of Hampton that DO NOT contribute to the tax base place much additional burden on non-exempt taxpayers.

The Hampton selectmen like to argue that $40 million is well-deserved granted tax exemptions are MORE of a burden that the almost $300 million in tax exempt properties.

The analysis for 2025 COMING SOON.

DEFINITIONS:

Tax base = total amount of income, property, or economic activity that is subject to taxation by a government.

Tax exempt properties DO NOT add to the tax base BUT ARE included in the starting point of the annual valuation of the town.

Taxable valuation = properties that DO contribute to the tax rate.

WHAT IS HAPPENING IN THIS REGARD FOR YOUR NEW HAMPSHIRE CITY OR TOWN?