LACONIA Tax Increases

[ITD]

Originally Posted by PeterG

If you're worried about your lake tax bill know, keep your fingers crossed, and write to your Congressmen to urge him to vote NO on the current Republican tax plan. if it passes, property taxes will no longer be fully deductible on your federal return.

The details are still being hammered out, but most reports say that only the first $10,000 will be deductible. So if your primary residence has $10,000 or more in taxes, and your lake house has another $10,000, you will lose $10,000 in deductions. It will have the same cash impact as your lake taxes increasing by $3,300 (assuming a 33% tax bracket).

When you get to a certain point your deductions go away now, just saying.

[trackeer]

Regardless if the all things remain the same and they re-evaluate properties the end result is a higher tax bill if the property values increase, regardless if the town spends or intends to spend the money to be collected.
The only thing they can say, is, See we didn't raise the Tax Rate, but did one better and re-evaluated the property values to reflect recent sales, 25-35 percent is a pretty big hit if your property happens to be one of those they decided to increase.
The long and short of it, Laconia jammed the taxpayers that have the least over all impact on the cities services, Schools etc., and better those who live in Association Controlled Properties, talk about your cake and ice-cream., and even better most aren't voting residents.......