real estate taxes

bobio · 07-13-2006, 09:30 PM

Has anyone had positive results with tax abatements? I remenber that there was a thread not long ago with discussion about going directly to the state.
Not to complain, but the top of the very short list of bad parts of living in the lakes region is the high property taxes. Huge revenue for the towns. Do they spend it all? Is there any surplus? Where does it all go? How do these waterfront owners who do not live in mansions afford the property tax? I don't want to beat this to death but I was just looking at some property online and the tax payments are similar to mortage payments. Has anyone ever seen properties lost to tax sales?

Airwaves · 07-13-2006, 09:51 PM

Last year and this year our family has rented out our place at the lake for the first time!. We are doing it because of the taxes and condo fees!

I don't know how they (the towns) spend the money. I know that from our place alone (a condo complex) the tax revenue for the town is amazing!

The obvious downside of owning property on Winni (and our family has owned waterfront property in two locations for about 100 years) is that while paying property tax to support the community (as we should) we do NOT get a say in how the money is spent or who spends it!

Now, should we be allowed to vote in local elections, probably not. But on the other hand, since we are paying the bulk of the tax dollars that operate the town that our "Second home" is located in, I think we should have some kind of say. What? I don't know. But the way things are now in the Lakes Region and elsewhere, it's just a license for the towns to print money.

My favorite, the "View Tax"! Your place have a nice view? It's taxed for it! Who decides what a "View" is?

I personally like an unobstructed waterfront view, but I have sailboats in front of my place. Some folks like a view of a beach, some like a view away from the lake entirely and want woods, Who is to say what is a "view"?

Okay, I'm finished ranting for now.

The thing that makes me laugh the most is NH's marketing campaign that NH is "Tax Free"!

secondcurve · 07-13-2006, 10:36 PM

Airwaves:

It is quite simple, property taxes are the state of New Hampshire's only source of revenue.

bobio · 07-13-2006, 11:07 PM

secondcurve:
what about the meals tax, road tax and gas tax? I'd guess there are a few others. I absolutely agree that the towns need to create revenue for local
government, schools and public safety. What I'm saying is that the tax dollar amount is out of control.

Yankee · 07-14-2006, 12:08 PM

Quote:

Originally Posted by bobio

secondcurve:
what about the meals tax, road tax and gas tax? I'd guess there are a few others. I absolutely agree that the towns need to create revenue for local
government, schools and public safety. What I'm saying is that the tax dollar amount is out of control.

The meals, road, and gas taxes go to the state. Real estate taxes go to the town that the property resides in.

As for the amount, you should thank your fellow out of staters for building their multimillion dollar homes that drive the cost of property up for everyone else, including those of us who live here. As goodsk8s said, it's what the market will bear. What you're complaining about is the same problem us local folk have had to live with over the years as more and more out of staters come into the area with $$$$$ looking to purchase second homes.

I gave up on the idea of ever being able to afford even a small camp on the lake

Waterbaby · 07-14-2006, 08:38 PM

Quote:

Originally Posted by Yankee

The meals, road, and gas taxes go to the state. Real estate taxes go to the town that the property resides in.

If you look at your tax bill, the amount of property tax is broken down such that a (usually the smallest) portion goes to the town/city; a portion goes to the school system; a portion goes to the county; and the last (but not least) portion goes to, yup, you guessed it!: to the State for the State education tax. Residents get to vote (and I use that term loosely!) on two portions of that tax rate: the town/city budget, and the local school budget. County budget? Nope! State education tax? Nope again!

Also, in addition to the Meals and Rentals Tax, the Road Tax (paid for, I believe, as an .18 surcharge per gallon of gasoline), New Hampshire has a Business Profits Tax and another tax not a lot of people are aware of -- a tax on interest/investment income over a certain amount per year. (I think it was $2,000 last I recall.......)

So. Tax Free? I don't think so!

frporter · 07-14-2006, 11:34 PM

Be aware that the property tax rates in the seven towns surronding the big lake vary tremendously. Laconia and Gilford are extremely high whereas Moultpnborough and Tuftonboro are among the lowest in the state. Goodsk8s $14,000 NJ taxes would equate to a $2 million + property in Moultonborough.

Any questions re how individual towns raise and spend money can be examined in each town's annual report. Everything is pretty open in most towns; although, some towns have been known to "inadvertently" put capital expenditures in operating budgets.

Also, keep in mind that fot the most part all taxes raised are done by local ELECTED officials and most be approved at each Town Meeting. In other words, there is no huge general "slush fund" which can be spent by the state legislature without answering to locally elected officials. This point is frequently used as the best reason for not having a general sales or income tax which generates funds which are not earmarked for specific needs.

ossipeeboater · 07-14-2006, 09:42 AM

I love the debate on this view tax. If you had a choice to buy a home that looked at the lake or looked at some trees which would you pay more for. Obviously all things being equal it's the one with lake view for most. Because of this that property would sell for more therefore it's assessed for more. That's fair, I will agree that the towns do overtax the waterfront/second home owners in some cases, if you can prove your house isn't worth the value appeal the tax bill the procedure for doing so is out there.

07-13-2006, 09:30 PM	#1
bobio Senior Member Join Date: Jun 2005 Location: South Shore, Ma./ South Down Shores, N.H. Posts: 60 Thanks: 0 Thanked 2 Times in 2 Posts	real estate taxes Has anyone had positive results with tax abatements? I remenber that there was a thread not long ago with discussion about going directly to the state. Not to complain, but the top of the very short list of bad parts of living in the lakes region is the high property taxes. Huge revenue for the towns. Do they spend it all? Is there any surplus? Where does it all go? How do these waterfront owners who do not live in mansions afford the property tax? I don't want to beat this to death but I was just looking at some property online and the tax payments are similar to mortage payments. Has anyone ever seen properties lost to tax sales?

07-13-2006, 09:51 PM	#2
Airwaves Senior Member Join Date: Feb 2006 Location: I'm right here! Posts: 1,153 Thanks: 9 Thanked 102 Times in 37 Posts	Last year and this year our family has rented out our place at the lake for the first time!. We are doing it because of the taxes and condo fees! I don't know how they (the towns) spend the money. I know that from our place alone (a condo complex) the tax revenue for the town is amazing! The obvious downside of owning property on Winni (and our family has owned waterfront property in two locations for about 100 years) is that while paying property tax to support the community (as we should) we do NOT get a say in how the money is spent or who spends it! Now, should we be allowed to vote in local elections, probably not. But on the other hand, since we are paying the bulk of the tax dollars that operate the town that our "Second home" is located in, I think we should have some kind of say. What? I don't know. But the way things are now in the Lakes Region and elsewhere, it's just a license for the towns to print money. My favorite, the "View Tax"! Your place have a nice view? It's taxed for it! Who decides what a "View" is? I personally like an unobstructed waterfront view, but I have sailboats in front of my place. Some folks like a view of a beach, some like a view away from the lake entirely and want woods, Who is to say what is a "view"? Okay, I'm finished ranting for now. The thing that makes me laugh the most is NH's marketing campaign that NH is *"Tax Free"!*

07-13-2006, 10:36 PM	#3
secondcurve Senior Member Join Date: Jan 2005 Posts: 2,118 Thanks: 1,331 Thanked 559 Times in 288 Posts	Airwaves: It is quite simple, property taxes are the state of New Hampshire's only source of revenue.

07-13-2006, 11:07 PM	#4
bobio Senior Member Join Date: Jun 2005 Location: South Shore, Ma./ South Down Shores, N.H. Posts: 60 Thanks: 0 Thanked 2 Times in 2 Posts	secondcurve: what about the meals tax, road tax and gas tax? I'd guess there are a few others. I absolutely agree that the towns need to create revenue for local government, schools and public safety. What I'm saying is that the tax dollar amount is out of control.

07-14-2006, 11:34 PM	#7
frporter Junior Member Join Date: Jun 2006 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts	Be aware that the property tax rates in the seven towns surronding the big lake vary tremendously. Laconia and Gilford are extremely high whereas Moultpnborough and Tuftonboro are among the lowest in the state. Goodsk8s $14,000 NJ taxes would equate to a $2 million + property in Moultonborough. Any questions re how individual towns raise and spend money can be examined in each town's annual report. Everything is pretty open in most towns; although, some towns have been known to "inadvertently" put capital expenditures in operating budgets. Also, keep in mind that fot the most part all taxes raised are done by local ELECTED officials and most be approved at each Town Meeting. In other words, there is no huge general "slush fund" which can be spent by the state legislature without answering to locally elected officials. This point is frequently used as the best reason for not having a general sales or income tax which generates funds which are not earmarked for specific needs.

07-14-2006, 09:42 AM	#8
ossipeeboater Senior Member Join Date: May 2005 Posts: 157 Thanks: 0 Thanked 2 Times in 2 Posts	I love the debate on this view tax. If you had a choice to buy a home that looked at the lake or looked at some trees which would you pay more for. Obviously all things being equal it's the one with lake view for most. Because of this that property would sell for more therefore it's assessed for more. That's fair, I will agree that the towns do overtax the waterfront/second home owners in some cases, if you can prove your house isn't worth the value appeal the tax bill the procedure for doing so is out there.