Moultonborough Taxes

[DickR]

According to the newsletter that came with my M'boro tax bill, "The results of the 2023 revaluation indicate an approximate overall increase of 15.8% in the town-wide value." From the valuation numbers shown on my bills due July and December, my valuation went up 15.2%. This suggests that, without any change in budgeted town expenditures, my share of the total tax burden would change very little. However, when I look at the tax rate per $1000 numbers, the bill due in July is based on an annual tax rate of $4.78/1000, while the bill due next month is based on an annual tax rate of $5.70.

Here is the breakdown of the rates:
Rate/1000 July % of total December % of total
Municipal 0.63 26.36 1.86 32.63
Local School 0.88 36.82 1.77 31.05
State Edu. 0.48 20.08 1.19 20.88
County 0.40 16.74 0.88 15.44
Total 2.39 5.70


[someone please tell me how to get columns of such numbers to line up visually - I tried everything!]


So the distribution of the various parts of the total rates varied a bit, notably from school to municipal, but I don't know why, if the budgets weren't changed. But the annualized tax rate went from 4.78 (twice the 2.39) to 5.70, an increase of 19.2%, along with the valuation increase of over 15%. That seems like "double-dipping" to me. As a result, my annualized tax bill has gone up 37%, and I'd like to know why. Normally, without any increase in town budget, the seemingly high jump in valuation is simply offset by a lowered tax rate, so that the actual increase in annual tax reflects the change in total budget times the new individual share of the burden.

[John Mercier]

The alignment throws me off a bit, but it looks like the municipal rate jumped from .63 to 1.86

The school rate also went from .88 to 1.77

It is plausible that some other funding source - State or Federal declined so the budgets may have moved very little, but with the other source of revenue gone... the revenue requirements had to be made up by the property tax.

[DickR]

Those rates for the July bill are for half a year; double them to compare with the rates for the December bill. So that 0.63 becomes 1.26 to compare with 1.86 on the new bill. And as I noted, I tried everything I could, with fonts, etc, to get the columns of numbers to line up when posted. No matter how I juggled things, with strings of spaces, fonts, etc., when I hit "Submit" or "Preview Post,", the displayed form condenses out the spacing.

[Pineedles]

Any rate the previous posters have suggested is outrageous! The waterfront properties have gone up in value but so has the other properties. I can’t access my tax bill online but if these rates are true, I think the town wants everyone to sell their homes to the super rich because they won’t care how much they pay in taxes.

[phoenix]

i had a big increase also. Usually for me the second half is much closer to first half this time the second half was 75% higher. So in May will the first half for next year be equal to the second have number if so yikes

[tis]

Originally Posted by phoenix

i had a big increase also. Usually for me the second half is much closer to first half this time the second half was 75% higher. So in May will the first half for next year be equal to the second have number if so yikes

Yes, the spring bill is always an estimate which is half of your December bill. The state doesn't set the tax rate until late fall so they don't know in the spring what your bill is going to be.

[DesertDweller]

Just checked mine and I am up about 35 percent over last year. Not sure how they justify that.

[searay]

When is enough, enough? Municipalities establish a percentage mil rate that they use to assess property. Depending on where property valuations are the town moves the mill rate up or down. Of course, they balance that against the recent sales values in our neighborhoods. That process seems reasonable however the majority of property owners just want to use their property. We generally don’t buy and sell every year.

The old way of collecting property taxes is outdated. There should be a rate that allows municipalities to collect a higher tax value on resale property. Properties that are dormant could occur smaller increases. It is always an interesting topic when people think your wealthy because your property appreciates. Yes, it does feel good however the majority of us are property poor. Maintenance and taxes continue to rise. We benefit on the sale.

Some states are taxing property when a sale exceeds a dollar value. They are using these funds to assist the homeless. Maybe that tax should just go back to the town.

Just my thoughts. I really don’t like any new taxes. I have always believed that municipalities are poorly managed.

[John Mercier]

No municipalities do not establish a percentage mil rate to assess properties.
No the town does not move the rate up or down.

Management of the municipalities - i.e. budgets - are a function of the residents. For towns, this is a direct vote on the budgets. For cities, it is a representative format whereas the residents can change direction very quickly if they choose to.

We residents set the budgets directly/indirectly. The assessors set the value of each property. There are checks and balances for both. And the State sets the mil rate.

Some States have used a ''homestead'' exemption; but those would just shift taxes from resident-owned primary properties onto others.

And the State of NH has a Real Estate Transfer Tax that covers ever dollar... not just the sale of high end property.

[eyenotall777]

Originally Posted by Pineedles

Any rate the previous posters have suggested is outrageous! The waterfront properties have gone up in value but so has the other properties. I can’t access my tax bill online but if these rates are true, I think the town wants everyone to sell their homes to the super rich because they won’t care how much they pay in taxes.

You should be able to access here, many towns are listed:

https://nhtaxkiosk.com