HUB status in Moultonborough

longislander · 12-21-2022, 06:12 PM

The last census indicates around a population of 5,000 residents. Registered voters is close to 4,000. Summer crowd swells to 25,000-30,000 in some estimates.

Here's a note to the Moultonborough town hall today:

Don't know if you're also getting email etc. about how much extra tax, folks will have to pay for a $15 million dollar bond. I'm including some thoughts I'm sharing with others.
$15 million dollar bond @5.25% for 15 years.
Using amortization calculator: $1,446,984 for 12 months; total interest paid $6,704,698;15 year cost $21,704,698

2022 "tax effort" $6,144,066 divided by 2022 valuation $4,892,023,118 =1.25 tax rate
Municipal +County+ Local Ed.+ State Ed. = Total Tax rate; 1.25+.80+1.75+.97 = 4.78/1000 total tax rate
Let's say the $1,446,984 is added to the "tax effort" to the municipal rate, then the new municipal "tax effort" is $7,591,050
Then, $7,591,050 divided by valuation $4,892,023,118 is the new tax rate for this exercise = 1.55/1000
1.55+.8o+1.76+.97 = 5.08 the new total tax rate

Then,
Sample 2022 tax bills
2022 Assessment x tax rates 4.478/1000 and 5.08/1000

Sample Assessments x tax rate = annual tax bill
For 4.78/1000
$200,000 x .00478 = $956
$300,000 x .00478 = $1,434
$400,000 x .00478 = $1,912
$500,000 x .00478 = $2,390
$750,000 x .00478 = $3,585
$1,000,000 x .00478 = $4,780
$2,000,000 x .00478 = $9,560

For 5.08/1000
$200,000 x .00508 = $1,016 tax; difference: $60 = 6.3%
$300,000 x .00508 = $1,524 tax; difference: $90 = 6.3%
$400,000 x .00508 = $2,032 tax; difference: $120 = 6.3%
$500,000 x .00508 = $2,540 tax; difference: $150 = 6.3%
$750,000 x .00508 = $3,810 tax; difference: $225 = 6.3 %
$1,000,000 x .00508 = $5,080 tax difference: $300 =6.3%
$2,000,000 x .00508 = $10,160 tax difference: $600 = 6.3%

Also, 5.08- 4.78 = .30; 30/4.78 = 6.3%

Can someone with a million dollar home afford another $300 ?
The idea is to let folks not panic by all the scuttlebutt, about whatever bond rates that they heard of, or misinformation thereof.

Maybe % of present tax instead of "something" to do with a bond might allay fears!

Let me know if the logic or math is out-of-whack.

12-21-2022, 06:12 PM	#1
longislander Senior Member Join Date: Jun 2007 Location: Moultonborough Posts: 550 Thanks: 49 Thanked 101 Times in 76 Posts	The last census indicates around a population of 5,000 residents. Registered voters is close to 4,000. Summer crowd swells to 25,000-30,000 in some estimates. Here's a note to the Moultonborough town hall today: Don't know if you're also getting email etc. about how much extra tax, folks will have to pay for a $15 million dollar bond. I'm including some thoughts I'm sharing with others. $15 million dollar bond @5.25% for 15 years. Using amortization calculator: $1,446,984 for 12 months; total interest paid $6,704,698;15 year cost $21,704,698 2022 "tax effort" $6,144,066 divided by 2022 valuation $4,892,023,118 =1.25 tax rate Municipal +County+ Local Ed.+ State Ed. = Total Tax rate; 1.25+.80+1.75+.97 = 4.78/1000 total tax rate Let's say the $1,446,984 is added to the "tax effort" to the municipal rate, then the new municipal "tax effort" is $7,591,050 Then, $7,591,050 divided by valuation $4,892,023,118 is the new tax rate for this exercise = 1.55/1000 1.55+.8o+1.76+.97 = 5.08 the new total tax rate Then, Sample 2022 tax bills 2022 Assessment x tax rates 4.478/1000 and 5.08/1000 Sample Assessments x tax rate = annual tax bill For 4.78/1000 $200,000 x .00478 = $956 $300,000 x .00478 = $1,434 $400,000 x .00478 = $1,912 $500,000 x .00478 = $2,390 $750,000 x .00478 = $3,585 $1,000,000 x .00478 = $4,780 $2,000,000 x .00478 = $9,560 For 5.08/1000 $200,000 x .00508 = $1,016 tax; difference: $60 = 6.3% $300,000 x .00508 = $1,524 tax; difference: $90 = 6.3% $400,000 x .00508 = $2,032 tax; difference: $120 = 6.3% $500,000 x .00508 = $2,540 tax; difference: $150 = 6.3% $750,000 x .00508 = $3,810 tax; difference: $225 = 6.3 % $1,000,000 x .00508 = $5,080 tax difference: $300 =6.3% $2,000,000 x .00508 = $10,160 tax difference: $600 = 6.3% Also, 5.08- 4.78 = .30; 30/4.78 = 6.3% Can someone with a million dollar home afford another $300 ? The idea is to let folks not panic by all the scuttlebutt, about whatever bond rates that they heard of, or misinformation thereof. Maybe % of present tax instead of "something" to do with a bond might allay fears! Let me know if the logic or math is out-of-whack.