HB1580
It seems to me that almost all lakefront homes would be subject to this surcharge tax since most everything on the lake is $500,000+. Many people who inherited land and struggle to pay property taxes already could be forced to sell, bringing in even more well off people to build mansions, who can pay the tax without care.
In addition, it seems to me the math in the bill is treating it as if the surcharge for each home is only $3975. But most home are worth well over that. I checked the value of my previously owned, modest house and it's about $1.5 million. The way the bill is written, it's .75% times ASSESSED VALUE. That's $11,250 surcharge for my old property, And this is for a modest sized house. And note that the Moultonborough 2025 property taxes on that house would be about $1,500,000/1000*$5.33 = $7995. The surcharge is more than the property tax. That's nuts!
A $5,000,000 home would be assessed for $37,500 annually. I'm not worried about the rich going broke but there is a question about fairness and gouging.
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