New Moultonborough valuations

[fatlazyless]

While not about Moultonborough, here's some property tax info from Belmont, the lakes region town south of Laconia, that demonstates how the local NH property tax system works.
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Belmont tax rate up 7.4% due to decline in tax base

Belmont - The New Hampshire Department of Revenue Administration this week set the 2009 property tax rate at $19.69 per $1,000 of assessed value which is $1.35, or 7.4-percent higher, than the 2008 rate of $18.34.

The jump in the rate reflects a steep drop in assessed values along with a decline in revenues from sources other than property taxes, including the loss of municipal revenue sharing from the state. The total assessed valuation fell $73.6-million, or 9.2-percent, from $798,243,137 to $724,682,218.

The total tax burden, the total amount to be raised by property taxes, actually decreased from $14.4-million to $14.0 million.

The town portion of the tax rate rose from $6.24 to $6.99, the local school tax from $8.84 to $9.02, the state education property tax from $2.04 to $2.35 and the county tax from $1.22 to $1.33.

Laconia Daily Sun, 10/26/09, Michael Kitch
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With no short term or long term capital gains tax, no income tax, no sales tax, and no oil fields underground like in Alaska, the New Hampshire local property tax is NH's 'hi-torque tax engine.' It does the heavy lifting. Here in New Hampshire, you can lose your job only to see your home's assessed value go down, and at the same time your property tax bill can go up. How is that a fair tax?

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As a side note, I'd like to mention that the State of NH gets more tax revenue when some poor slob like me buys a one-dollar mcchicken sandwich, namely 9 cents, as opposed to the zero cents which NH received from Senator Judd Gregg when he won $850,000 in the October 25, 2005 Powerball Lottery.

What a wacky NH tax system! NH has a tax system where the mcchickens do the heavy lifting for the Powerballs.

[breathe easy]

Originally Posted by fatlazyless

With no short term or long term capital gains tax, no income tax, no sales tax, and no oil fields underground like in Alaska, the New Hampshire local property tax is NH's 'hi-torque tax engine.' It does the heavy lifting. Here in New Hampshire, you can lose your job only to see your home's assessed value go down, and at the same time your property tax bill can go up. How is that a fair tax?

I don't know about fairness, but each towns "legislative body" ( voters) approve appropriations and budgets each year and regardless of what happens to valuations and other revenue sources, the tax rate has to be adjusted to raise sufficient revenue to pay the bills.