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Let's clear up a common misunderstanding about property taxes in New Hampshire: Rising home values (or property assessments) **alone do not cause rising property taxes** for everyone. Here's how it really works: - Towns, schools, and counties set their **budgets** first (what they plan to spend on services, education, etc.). - They subtract other revenues (state aid, fees, etc.), leaving the amount that must be raised via property taxes — the "tax levy." - The tax **rate** (dollars per $1,000 of assessed value) is then calculated by dividing that levy by the **total assessed value** of all taxable property in the town. **Tax bill = (Your assessed value ÷ 1,000) × Tax rate** If **all** property values in town rise together (e.g., double due to a hot market), the total valuation doubles too. If the budget/levy stays the same, the tax rate **drops** proportionally — so most people's bills stay roughly the same. No big tax hike just from "rising values." But if the **budget** increases (more spending), the levy goes up — and **everyone's** taxes rise, even if property values stay flat or only rise modestly. The real driver of higher property taxes in NH right now? **Out-of-control school budgets** and overall local spending increases — not just home values going up. School costs hit property taxpayers hardest, pushing levies higher year after year. Revaluations ensure fair distribution of the tax burden, but they don't create new revenue needs — budgets do. Time to focus on controlling spending, especially schools, if we want relief on property tax bills.