Flagtown was probably named for Jacob Flagg, who purchased a tract in 1700. Some years later, J. Flagg, a descendent and proprietor of a local tavern had it used as headquarters for the Hillsborough Company in the Revolution. At election time the tavern served as a voting place.
The first school was built there about 1725 on a knoll near the railroad station and it is said that William Parrish taught there. The building was replaced in 1795, painted red and white casings to the doors and windows and called, "The Old Red School House."