Taxes

[Yosemite Sam]

Originally Posted by jetskier

Laconia calculates the tax bill as follows:

July tax = Valuation x 1/2 prior year's rate
December = Valuation x current rate less amount of July bill

July Rate = 8.48
December Rate = 18.04

So the net increase in the rate was 6%

They increased my valuation by 17%...Interesting view of the real estate market since everything has gone down.

Jetskier

I didn't think that your tax rate had doubled as you said in your first post. 6% net increase makes more sense.
I wonder why your valuation went up 17%. Did you do some renovations?

[SIKSUKR]

Originally Posted by Yosemite Sam

I didn't think that your tax rate had doubled as you said in your first post. 6% net increase makes more sense.
I wonder why your valuation went up 17%. Did you do some renovations?

The tax rate did more than double. It went from 8 1/2 to 18. His total taxes only went up 6% because the evaluation was cut in half.

[jetskier]

Actually it was 6%...Laconia uses strange math. The actual rate for July was

2 x 8.48 = 16.96

The December rate was 18.04

Net = 6.36% increase

The house is basically new, so I am guessing that the 17% increase was over a discount prior. The valuation does seem like full market value+.

Jetskier

[Yosemite Sam]

Originally Posted by jetskier

Actually it was 6%...Laconia uses strange math. The actual rate for July was

2 x 8.48 = 16.96

The December rate was 18.04

Net = 6.36% increase

The house is basically new, so I am guessing that the 17% increase was over a discount prior. The valuation does seem like full market value+.

Jetskier

If I rec'd a 17% increase in my taxes, I would want to know how they calculated it. It wouldn't hurt to get in touch with the Laconia finance department and ask them to explain the increase.
Good luck