1 acre one rate, if acre is in the same town yes, could you have a rate for buildable acre vs un-buildable acre, absolutely. My argument was originally based on a acre of buildable lot and sqft of building on it

In Wolfeboro and New Durham, it's between 60 and 70 percent, ND on the lower end of that scale, Wolfeboro on the higher side.

[emoji4].


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You can't hide anything from you're accountant. He never wanted to listen to me when I complained about how much I was paying in taxes. "If you weren't making it you wouldn't have to pay it".
Now that I'm almost retired and not making nearly as much money, he's not saying that anymore, but he still charges me like I was. :emb:

Most people don't vote in local elections or at Town Meeting when the budget is approved. If you're not active in your hometown, why do you think you will attend Town Meeting in March where you have to be there in person, all evening, to vote by raising your hand?

LOL, Bigg, I say the same thing to my accountant and he says the same thing. But I also say I don't want to get audited so won't take any risky deductions.

It's true unfortunately that most people don't vote and many of those that do, don't know what they are voting for.

I also agree it is true, there is so much more paperwork and rules and regulations today. The government doesn't realize how much it costs us in time and money. I think Washington needs to get rid of some of these people that just sit and think up regulations.

A major part of your job as a CPA is to seek out ways “legally “ to mitigate your clients taxes as much as possible. You don’t just take their info and input it into s program and spit out the results. That is a lazy accountant. Often it is what it is but you at least need to research and do your homework for each client.


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Just curious: I hear your complaint. It is valid. Did you vote for a President who campaigned and pledged to reduce government regulations, and is doing so?

Or did your vote go the other way which is the way most in the education field voted?

If you are unhappy with the amount of government interference in education and business maybe you could speak to your fellow educators about the way most of them vote?

Just sayin'

This is an very interesting point with respect to this home. Typically, the market value of the property would reflect the value of the land plus the building cost plugged into some reasonable formula. But what happens when the owner spends so much on the building, that no one else can afford to buy it? This seems to be the case here. Should the town suffer because he built a property that is not marketable? Or should the tax assessment reflect the value of the land plus the building cost plugged into some reasonable formula?

Building cost is often not related to market value. Spend $40K to install a swimming pool and you may not have increased the market value at all. Spend $40K on a new kitchen and you may have increased market value by $60K.

Bob likes Maine!
 

Bob is from southern Maine ..... he grew up there ..... he raced cars there .... and, he's left this mansion known as Longview behind to go back to Maine. His family and friends are all in Maine.

At age-91 with more than 300-million dollars in the bank, selling this Longview property for the reduced price of 9-million dollars will probably not make any difference to him. He probably just wants to sell it because with his race track in Loudon sold, he's gone back to Maine, and he has no use for the big house on Winnipesaukee. http://theautoblonde.com/bob-bahre-car-collection/ ……. Bob likes Maine!

Maybe he would actually prefer to donate the 19-waterfront acre mansion to the southern Maine Scouts http://pinetreebsa.org via a 100-year, one dollar/year lease to be used for a Maine young scouts, organized weekend get-a-way, go-to spot used by many different young people from Maine for the next hundred years and beyond.

Maybe, all things considered, he would feel better about donating the property as opposed to selling it? Is this a doable way out?

We have to be correct in our wording. The Boy Scouts I believe are not called Boy Scouts now. They are just called SCOUTS ever since they allowed girls into the BOYS SCOUT. And NOPE I will not donate a Dime to this SCAM now. It's terrible how the millennials can't except this Country . Just another great cause going down the drain due to politics...

"can't except"..or..can't accept?

IMO "millennials" love this country just as much as other generations have.

Yes, that's exactly my point. If the owner has "over-improved" the property to the point where it is not marketable, or additional improvements are not longer increasing market value, isn't that his fault? Shouldn't he still pay taxes on the improvements?

Improvements?
 

"Improvements" are only improvements if somebody wants to buy them. (Willing buyer, willing seller) No market, no value, no tax. If I put on an addition, and nobody wants to buy my indoor movie theater, it still has added value in the square footage because it can be used for other purposes.

I love this reasoning and would like to see if we could extend it to federal income taxes as well. I am a citizen and have a job in this country and you are a citizen and have a job in this country so we should both pay the same federal tax. That I make $250,000 and you make $50,000 shouldn't make any difference. Send each of us a $5000 tax bill and we wouldn't need an IRS and employers wouldn't have to figure out W2s or any other wage paperwork for the government. Investments and their return wouldn't matter. Charitable, mortgage, or medical deductions won't matter. Everybody would know what they owe well ahead of time and wouldn't have to spend days collecting paperwork and filling out tax forms or worry about audits. You wouldn't need to buy tax software or go to a tax firm to do your taxes. There would be massive cost savings and life would be MUCH simpler. :D:D:D

Normally that would be true. But let's say you have a house that is already so expensive that it can only be sold at a fraction of its cost. The market value is capped way below replacement value because virtually nobody but you can afford to buy it.

Now let's say you put on a new wing to house a movie theatre. In this case, you have not increased the market value of the home (its already at its cap), but you would still expect an increase in taxes.

More reading here. Note that in the case I describe there is a sharp split between the sales comparison approach and the cost approach, both of which are valid. https://www.iaao.org/Media/Pubs/Property_Owner.pdf

Why did you write this?
 

Go to Southeast LA. Go to East Cleveland. Go to South Chicago. Ask those people what they make of your financial problems. They'd be throwing stones at you. You have financial problems they only wish they could have. You probably complain about the fact you got overcharged for a burger yesterday. They didn't eat yesterday. You complain about your car having engine problems. They don't own one. You've created a whole forum on targeting some guy regarding his "lucky" problems. Why?

...... $847 dollars-a-day..... yo-ho-ho!
 

Well ...... the Town of Alton gets $847/day, paid by Bob, everyday of the year, regardless the weather, and with the new tax change, none of it is deductible off his federal taxes starting January 11, 2019, on a day by day basis.

January 11 to December 31, day after day after day after day ..... $847/day paid to the Town of Alton ...... this money should be well spent and do a lot of good things for the people of the Town of Alton.

Bob has hired an experienced attorney and filed suit against the town in Belknap Superior Court to try to get his property tax bill lowered to what it should be, so's he can sell Longview to a buyer. Apparently, no one wants to be paying $847/day in real non-deductible money from Jan 11- Dec 31 for Longview. The $10,000 deductible limit goes into effect starting on January 11 for Bob because his Alton property tax is $309,230/year.

After all, when one gets hungry for lunch, you cannot eat the view.

Back in the day, a big view like this at a state park would have a pedestal mounted binocular on a swivel, somewhat similar to a rangefinder on a navy warship, and you would drop a dime into the slot to turn on the big view ...... yo-ho-ho!:eek2:

Hmmm...the places you mention in your own rant are all bastions of democratic control...places that have, through poor management, and extremely, liberal policies have degraded to third world conditions while the “leaders” of these ****-holes walk by human feces, vomit and drugged out bodies to get to their subways and home to their gated mansions. Why?

LOL... most don't have a clue what you just said!

:(
Just need to google “what’s happening to California” to know.

We can similarly look at the poorest states in the nation, or the least safe, or the least healthy - which are "Red states" and blame their issues on failed policies.

Better yet, though, is to stop turning everything into a partisan issue where all the blame goes on the other guy and instead listen, compromise, and come up with real solutions that don't involve finger pointing and blame. There's a reason I am not affiliated with a political party and choose to support people and policies rather than always do what "my" party says.

No finger pointing or blame...just stark, reality.
I agree on having no affiliation with any “party” though...one side is as bad as the other in most cases.
You must admit, however, the levels of opposition, resistance and violence is tipped toward “one party” in particular...

I don't agree - I think both parties are equally to blame. Should the Whitewater investigation have gone off the rails as it did? No. Should the Russian investigation? No. Should Garland have been denied a hearing let alone a vote? No. Should Kavanaugh's process been dragged into the sewer? No. Should the ACA have been passed with no Republican votes? No. Should the recent tax bill been passed with no Democratic support? No. Each side claims to be taking the high road but IMHO both continue to sink to new lows.

I hit the thanks button by mistake but you sound like a nice guy so I’ll leave it there...:)

How about looking at results instead of intentions?

..... your town's sweet spot is what amount?
 

Anyone know what the sweet spot, property value is for Town of Meredith; the assessed value where you leave the land of making your property tax payment with money that can be deducted from federal taxes, and enter the level above $10,000?

Is it $850,000 assessed Meredith property value?

If yes, then owning Meredith property assessed above $850,000 got more expensive for tax year 2018 ...... paying with non-deductible, real money for above your town's sweet spot..... no more help from your long time real estate friend, Uncle Sam ...... the federal government .......boo-hoo-hoo-hoo ....... what happened
to our long term relationship ....... you, me, the Federal Gov and owning a home.......... :confused: The Federal Gov has always, always, always been so nice about this?


Have two homes ....... it is $10,000-total ...... like for one in NH and one in FL ........ as opposed to $10,000 for each home ..... which would be $20,000 ...... you get this picture. Yes, we see.

How many times are you going to repeat this? That's a sign of old age, when you keep repeating yourself over and over and over again. :rolleye1:

FLL is just increasing his lead as the most amount of posts on this forum. :eek:

If history serves as a measuring stick, it'll never end. In fact I think he's over due for another random noodle posting. Just think if some how some way he can figure out how to find a way to fix the 10K property federal tax limit with a noodle? God help us all!

You guys are giving him exactly what he wants, he likes to stir it up.


HEY LESS, why should I have to subsidize your expensive property tax and state taxes by letting you deduct them? $10k sounds more than fair to me.

That is because you live in a low tax state. Come to NY, NJ, MA, CT, CA ect where there is extremely high state income and property tax. The least should should be able to do is deduct them 100% on your "federal return".

.... yo ho ho & a bottle of rum!
 

…...cruising past my humble abode …..slow down and take a good gander at my recently constructed, installed, and completed, totally new second floor on top of my 70-year old mongrel, hodge-podge wf cottage …… two new bedrooms and a new bath up there...…. constructed entirely with 2"-3"-4"diameter x 42"long, high density, foam floatation noodles in multiple colors plus a lot of freebie, give-a-way paint stirrer sticks for stirring the paint which I believe are made from a birch tree...….

so's …….

...while Bob Bahre has the most prominent home on the lake ….. LONGVIEW..... $309,230 annual Alton, NH-property tax bill …... that fabulous mansion with the truly long view …. I, fatlazyless, have bestowed the name 'Noodle-ville' on my little cottage, which by the way is assessed way below the Meredith sweet spot for paying more than $10,000-prop tax …….. & is all 100% deductible ….. YO HO HO and a bottle of rum ……. true happiness is owning a 100% deductible property tax? ……. yo-ho-ho!:banana:

Like, why is all these For Sale signs recently popping up on my road, up and down the waterfront here …… "Because something is happening here but ya don't know what it is. Do you, Mister Jones?" (ballad of a thin man lyrics, bob dylan)

:patriot::banana::patriot:

Here's a question for the forum cpa on board here …….. so, how does one deduct the property tax when you have absolutely no income coming in …..then, what do you do ….. that seems like it may be a serious accounting difficulty?

If you have NO taxable income then NO deduction is needed as you have nothing to deduct it from.

ooooooh ……. I seeeeeee …….. that's how it works? ……. but, what about the property tax bill …….. do you still have to pay that local property tax bill???:eek:

Can't I just slice some foam noodles off my new second floor, wrap them up nice, and take this noodle package down to town hall as a payment in kind, or something …. sort of like paying the doctor's bill with a big box of freshly caught small mouthed bass?:rolleye2::laugh:

How long would it take each town to place a lean on the property and go to court to force a sell for unpaid property taxes? Past life in a mass town an individual went six years before she had to sell. By the way she walked away with cash as they can only take the unpaid balance and you get the rest


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A few months in general, for the lien. But can be done immediately if the town feels they have any risk of losing monies.

Yes. ........... and if you can't they will start the process to get someone who can. Keep in mind all that free stuff you like tennis courts and recreation centers has to be paid for by someone and that includes yourself. It's not like taking a snowblower back in the spring and telling Lowes it just is not going to work out for me now that it's spring and there is no more snow.

In NH your taxes have to go unpaid for three years before the town will take them. Then it depends on the town how fast they move They do have to give notice that they are going to take the property.