|The County Treasurer is charged with collecting the county property tax from municipalities, overseeing financial accounts, and investing county funds.
New Hampshire residents all pay a county portion of their property taxes to their local government, which is passed on to Hillsborough County in one lump sum each December. The tax rate is set by the county’s legislative delegation during the annual budget process.
The Treasurer is the signatory on the county’s financial accounts and works with the Business Office to maintain the integrity and security of all treasury funds.
All investments that the Treasurer makes are fully collateralized with the Federal Reserve. These include certificates of deposit, repurchase agreements, and money market accounts. All income derived from the investment of county funds is returned to the treasury and is used to offset the tax rate. This investment income totaled $1,858,796 in fiscal year 2008 and $2,174,139 in fiscal year 2007.
In consultation with the Board of Commissioners, the Treasurer may borrow funds to satisfy the county’s budgetary obligations. Currently, Hillsborough County carries no debt.
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Last updated on: Monday, September 22, 2014 10:05 AM