HUB status in Moultonborough

[tis]

It's complicated because it doesn't actually go to the state but it raises more school money and in the richer towns cuts the amount the state gives them. It is still a mandatory STATE tax.

[John Mercier]

All State taxes are mandatory.
But since there is no ''donation'', it isn't a donor town to Franklin.

And since the Education Trust Fund grant money that does go to the other districts comes from mostly business taxes... that also would not be a significant factor in Moultonborough.

Moultonborough went from a farming community to a bedroom community, and it did so in about on half century.

But what does the next half century look like? That is the question that town voters will need to answer.
They may not get it right, but it almost certainly will not be what it is today.

Franklin was a huge mill town (city)... and it was doubtful that the voters at that time realized that the mills would not be there in the future. So it has suffered while it looks to rebuild on a different path.

What will Moultonborough be a half century from now? Right now, they are riding the Boomer Wave.

[tis]

Here’s what you need to know:

SWEPT is part of a home or business property tax bill, which means it is remitted to the home or business owner’s town or city. The town or city does not give SWEPT money to the state, despite being called a “state tax.”
Since it is a “state tax,” it appears on the state budget as a part of the education trust fund. In practice and for accounting purposes, SWEPT money is counted as state funds. In reality, these funds are all locally raised dollars.
State law has required NH property owners to raise $363 million per year in SWEPT funds since 2005.
Whatever a town raises in SWEPT, is deducted from what the state would pay the town in adequate education grants and stabilization grants for their schools.
Most communities have additional local education taxes, since SWEPT funding and state funding (including adequate education grants and stabilization grants) do not cover the total cost for their local schools.
There is a legislative proposal this year to eliminate SWEPT all together.

[John Mercier]

I don't see a LSR for that...
Where did you find it?

Removal of SWEPT would require the State to raise an addition $363 million dollars through another format.

Which format are they proposing to do that through?

[tis]

https://reachinghighernh.org/2019/02...-locally-kept/

[John Mercier]

That was a 2019 legislative proposal...

It was voted down as the money would need to come from another tax source.
It is unlikely to be brought up, as we are attempting to lower taxation in other areas.

[tis]

Originally Posted by John Mercier

That was a 2019 legislative proposal...

It was voted down as the money would need to come from another tax source.
It is unlikely to be brought up, as we are attempting to lower taxation in other areas.

You just asked me where i got the info about where the money goes and so I sent you the link.

If you look at your tax bill you will see you are charged for:

Town Tax
County Tax
Local School Tax
State School Tax

That is all I am saying. I do not like to argue.

[John Mercier]

Originally Posted by tis

You just asked me where i got the info about where the money goes and so I sent you the link.

If you look at your tax bill you will see you are charged for:

Town Tax
County Tax
Local School Tax
State School Tax

That is all I am saying. I do not like to argue.

No. I understand how the funding works.
I was asking about the legislative proposal ''this year'' to remove SWEPT altogether.
I could not find the LSR, so I asked for the link.