luxury tax for out-of-staters

jetskier · 12-15-2006, 04:10 PM

I think that the issue is that other states get more of their tax base based upon other tax mechanisms. New Hampshire is reliant upon property tax, but that does not mean that it should be disproportionately apportioned more so to nonresident owners. That is the basis of this thread. It is no longer clear what the property values are as the market has weakened to the point that valuations are questionable. If the state places more of the tax load on the out of staters, they will invariably lose as there is a definitive threshold of pain here. If the market is flooded with more homes and people don't come in to support the local economy, then the towns lose.

I do not agree with your math here...my house in MA is assessed much higher than my house in NH, yet my taxes to NH are much higher. The percentages don't hold up. In addition, most people I know do not consider their home a monitary investment IT IS A LIFESTYLE INVESTMENT. I love this...we hear about fire chiefs taking $167,000 in deferred vacation accrual and then talk about dispropotionate allocation of the tax burden. Let's hope more rationale heads prevail.

Jetskier

12-15-2006, 04:10 PM	#11
jetskier Senior Member Join Date: Apr 2004 Location: North Reading, MA and South Down Shores Posts: 853 Thanks: 57 Thanked 183 Times in 114 Posts	Wow! I think that the issue is that other states get more of their tax base based upon other tax mechanisms. New Hampshire is reliant upon property tax, but that does not mean that it should be disproportionately apportioned more so to nonresident owners. That is the basis of this thread. It is no longer clear what the property values are as the market has weakened to the point that valuations are questionable. If the state places more of the tax load on the out of staters, they will invariably lose as there is a definitive threshold of pain here. If the market is flooded with more homes and people don't come in to support the local economy, then the towns lose. I do not agree with your math here...my house in MA is assessed much higher than my house in NH, yet my taxes to NH are much higher. The percentages don't hold up. In addition, most people I know do not consider their home a monitary investment IT IS A LIFESTYLE INVESTMENT. I love this...we hear about fire chiefs taking $167,000 in deferred vacation accrual and then talk about dispropotionate allocation of the tax burden. Let's hope more rationale heads prevail. Jetskier