Laconia...

[Outdoorsman]

Originally Posted by greeleyhill

Don't be fooled by tax rates. What you pay each year is driven by two things, your tax rate and property assessment or valuation. You may live in a town with high tax rates but low valuations, or a high tax rate and low valuations. Do your homework and get both.

You do understand how property value is assessed... right?

[greeleyhill]

Originally Posted by Outdoorsman

You do understand how property value is assessed... right?

Ahh - wild guess? My property was assessed by the town at 68.9% of the market value as determined by my bank...and no....that doesn't mean I overpaid for my home. The bank does a far more thorough job of comparing like properties, after all, they are on the hook if the owner stops paying and defaults on the loan. They're not going to write a mortgage for $500k when the property is only worth $300k. The town can change valuations MUCH easier than they do the tax rate - which is a very public decision.

[Outdoorsman]

Originally Posted by greeleyhill

Ahh - wild guess? My property was assessed by the town at 68.9% of the market value as determined by my bank...and no....that doesn't mean I overpaid for my home. The bank does a far more thorough job of comparing like properties, after all, they are on the hook if the owner stops paying and defaults on the loan. They're not going to write a mortgage for $500k when the property is only worth $300k. The town can change valuations MUCH easier than they do the tax rate - which is a very public decision.

I never suggested that you over paid for your lot. I just said you need to understand property ASSESSMENT. I stand by that statement after reading your quote above.