Seabrook City Council unanimously approved a $56 million budget for fiscal year 2024-25 and a property tax rate of $0.455156 per $100 valuation of a home at its Sept. 24 meeting.

The gist

The property tax rate is lower than the FY 2023-24 rate of $0.457755 per $100 valuation, according to agenda documents.

The adopted tax rate is slightly higher than the no-new-revenue rate of $0.455237 per $100 valuation.

In the past year, Seabrook’s average homestead market value has increased from $392,215.54 to $399,601.41, according to agenda documents.

Based on this rate, the city’s portion on the average home’s property tax bill will be $1,390.11 after a 20% homestead exemption is factored in, according to an Oct. 1 news release from the city.What else

In FY 2024-25, the city plans to invest more in its capital infrastructure, with over $25 million budgeted for projects that enhance public works, facilities and safety initiatives across Seabrook, according to the release.