Quote:
Originally Posted by Lakepilot
Wolfeboro hired Vision Appraisal also. The first thing they did was value all properties in town. Looking at that value times the then current tax rate or millage our taxes would have been unbelievable. I appealed and they reduced the valuation 30%, but then the town announced a new tax rate based on the town wide assessments. Based on the new tax rate ours was 1/2 of what it would have been with the initial assessment and the old tax rate- which is still outrageously high by the way.
Has Moultonborough announced a new tax rate based on the town wide reassessment?
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That is typical. The towns need x amount of money to operate. It doesn't matter if your house is assessed at a million dollars and taxed at $10 a thousand or $500,000 and taxed at $20 a thousand. It is the same amount. What it does though, is after a few years, the rates creep up again because everyone thinks their rate is low, forgetting how much the valuations went up. And the people who get hurt are the ones who were undervalued and theirs go up a lot all at once to catch up.