Proposed Moultonborough Assessed Valuation
 

I received a preliminary 2023 assessed value reflecting an 18.5% increase for my lot and a 1% increase for my buildings (despite no improvements being made). I am curious how the value of other Moultonborough lakefront properties have been preliminarily assessed. Thank you for your perspectives.

If it's waterfront then I can understand the
valuation increase but it doesn't mean your taxes will go up that much.
I know Meredith is doing reassessing this year also and I'm expecting a large valuation increase also but hoping for a small tax increase.
Prices have skyrocketed since Covid, esp waterfront!

It's interesting that the building is up only 1%. Is your home in good repair? If yes, maybe you're getting off cheap?

Here is the thing, the valuation may go up.... it always does.... but when I look at our tax bill in Moultonborough over time, it rarely goes up much more then I would expect.

How do you think Moultonborough keeps its low tax rate? Because the property values are inflated, especially the water front.....

With that said, My taxes don't cost me as much as friends pay for vacations, and I get to enjoy it more then one week, or two weeks a year.......

Land valuations for waterfront appear to be up 15% this year...just a tad less than the 17% last year. Don't expect any information to be forthcoming from the assessment oepration. They haven't even provided the qualified sales reports for last year. And there is no file that compares last years assessed valuations to this years. They just dump a file on to the web that gives the new assessments. Useless information. There is no analysis showing what the overall increases are for waterfront, non waterfront, commercial, etc. etc. Don't expect the data to be forthcoming....

Yes, the theory of the case is that increases in valuation can result in lower cost per thousand tax rate changes. But in Moultonborough, spending continues without constraint. As the waterfront increases more than other groups, the tax burden will continue to shift to those properties at a greater rate. People wil be in for a shock when they get the December tax bills this year due to the way NH sets the tax rate for the June semi annual bills at 50% last years rate. Last year there were some significant one time tax reductions that most likely will not occur again this year. As a result the tax rate per thousand will go up in December. Start saving your coins !!!

The proposed assessment is not based on particular facts of my home other than it being waterfront property. There was no home visit. Apparently, a percentage based on general market conditions is the reason for the proposed assessment.

If you take a look at your waterfront house's value on Zillow, or walk by a realtor and read the postings in the window, or Google Winnipesaukee real estate listings, you will be shocked at the increase in values. You could spend a few days on spreadsheets, or just acknowledge that 15-20% sounds about right.

As I posted earlier, it is a surprise that building values, at least in one case, are up only 1%.

I thought things would slow down by now, but it seems like the good properties are still bringing crazy prices.

Towns will periodically make an overall adjustment. Properties are divided into several categories. Based on recent sales, each category is then assigned a percent change up or down. Then entire categories are adjusted. Ask your assessing office if this was the case.
In a rising market the overall town net valuation will increase hence the tax rate will go down. That is, if town and school approved budgets do not jump up. Of course, the voters have a say in that.

Alan

Belmont went up collectively 25%, so if Moultonborough only went up 15-20%, it has slowed down.

The reason that building prices are not moving as quickly, not much of a market due to limited number of existing on the market.

Land on the other hand is being purchased and developed at an exceptional rate.

Towns are required by the state to be at 100% valuation so we are being revalued more often. Everybody panics when they see how much their property value goes up, but usually at least for the first year or so, the rate does go down. Then they say how low the tax rate is so let's spend, spend, spend, and the rate catches up eventually to the former rate. That's how our taxes have gotten so high. It's like when people vote these things in, they think it's somebody else's money.

Building value?
 

Each time a waterfront property sells for full price and the house gets bulldozed and replaced, the relative values of buildings certainly goes down. We are now seeing full houses being bulldozed, not just unheated, unplumbed, camps.

I think building inflation has been idled with depreciation in some areas.
But I still think that it is harder to change the value in buildings with the low sales volume used as a market comp.

Land is moving briskly in comparison.
So they can make some relative valuation.

We are seeing that everywhere now. In my area of Mass they are tearing down 600K to 800K homes and building 1.5mil to 2mil homes. Many of them have tiny lots, barely enough for a driveway on one side, and they sell quickly!

I had to get a validation assessment for a Tax purpose of my home this year. If it is 15% be thankful

I agree, I hate to see the waste, and the change is often for the worse. The economic bummer is that as the ratio of land value to building value rises, this becomes more and more "rational"

Everything you could want to know about property assessment in New Hampshire:

Understanding NH Property Taxes


And an explanation of the tax rate process from NH DRA (Dept of Revenue Administration):
https://www.revenue.nh.gov/documents...2021_FINAL.pdf

A lot of the stuff we built in that last few years will ''age out'' very quickly.

I don't ever expect the landscape to return with the large trees near the lakefront (unless the State heavily regulates), but maintaining the large structures with the way they are built will be a challenge.

As a Moultonborough resident and a waterfront property owner at that I thought I would provide some data......

As with the OP, my property value when up around 18% or so this year.... not surprised inventory is low, and everyone wants water front.....its just life....

Now if I look at my Taxes, since I started tracking them in 2019.... (when I took over handling the finances for the family property)

The largest amount was in 2021
The smallest tax bill was actually for 2022
The difference between the two was about $600
with the exception of the high bill year, all other years have been within reason of each other.....

Now the valuation of my property Since 2019, has dam near doubled

These are some pretty interesting facts when you think about them...

Thank you for putting this in perspective. Nobody likes taxes, and it may be a LONG time before your family cashes out. But the tax changes are peanuts compared to the value we experience every summer

I would pay more taxes to return to where this area was 50 years ago.

Your taxes today have given you a return on;

More development without an infrastructure to support it;

An unenjoyable weekend lake boating experience;

Real estate congestion;

Hired help deficiencies;

Multi-millionaires, tearing down homes or developing undeveloped land to build homes without any concern as to affect on neighbors, nor any effort to be friendly.

I won't get into the politically changing environment that seems to be aligned with the development of grass lawns.

Am I becoming a curmudgeon, a gilded lover of The Lake, a nostalgic, or lost in the fog? Not sure. Probably all of the above.

I wonder where this Lake will be in 25 years?

Spot on, garysanfran
 

I agree with your sentiments regarding the lake. We have been coming here for 45 years, and my recollections of the early summers are very different from the atmosphere here today. Back then, it was quiet and peaceful, a wonderful place to escape city or suburban life, and just kick back. There was no light at Greens corner, Aubuchons had no phone, Heaths was either closed on Sunday or had limited hours, and nobody was screaming nonstop for a multimillion dollar rec center. Life was good….families enjoyed board games and other fun things, and nobody was hooked into cell phones and internet. Ah, yes….the good old days.
You could actually enjoy the lake on weekends without fearing for your life! If only we could go back in time for some of it.

There's no going back in time, except in our minds! :(

I can honestly say I am becoming a curmudgeon there is no doubt about it. While I still love the lake, it is not like it was when I first fell in love with the area. Some changes have been good others have been bad.

But what bugs me the most is to come up in the winter, and see so many of these wonderful homes empty, and know that they stay that way from about Mid-October through till the beginning of May.....

Hmmm, why does that bother you?

100% Maybe 110%.

But as you imply--maybe part of the solution is political, or at least public policy--Maybe no allowable increase in footprint or height on the waterfront? Maybe no lawns allowed within 50 or 100"? Maybe no new roads or fertilizer in the watershed at all?

I actually like the slower winter when many of the McMansions are empty!

development irony
 

Isn't it ironic?
Years ago, at least on the islands, camps were built close to shore in part because of views, but more practically because materials came by barge and had to be hand carried a shorter distance and fewer trees had to be cut. Now, building is restricted close to shore and that encourages cutting more trees and establishing a lawn. Long ago, big houses with 100 acres were further back with woods or blueberry fields down to the shore, and then a big boat house. You can't build that now, but we honor those and put them on a national registry of historic places. Who knew? You don't need a lawn, you can buy blueberry sod which requires no maintenance.

Mostly it bugs me because I see it as a waste.... we spend so much money building a year around home and then never use it except in the summer....

My guess is a lot of it has to do with getting loans from banks for improvements, and them not wanting to finance unless they see it becoming a year around entity.... but I don't really know...

What I do know is I use my 3 season camp more then many use there year around places.... And if I get to the point where I make a couple of more improvements I will likely be using the 3 season camp, from March to Thanksgiving....

In the end if I thought I was going to retire and live at my property, I wouldn't mind putting up a year around place.... But as mentioned as the area continues to develop, it is likely not going to be my retirement destination... And before someone jumps to the conclusion its because of affordability it is not... I want to be away from the crowds, in retirement.....

I second that


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The National weather service is predicting a warmer/dryer next three months in NE.
I'm hoping for extended boating season because this summer sucked!:(

Worst summer I've experienced. And not just because of the weather.

I hope that's right, Big!

I am not sure if three season camps would be allowed any more because rules and regs require certain windows, insulation etc.

You can build and still only use it three seasons.

We were involved with a French couple that build a home on Long Island that only use it for two weeks in the summer.
They thought at the time they might also use it for a few weeks in the winter, but determined that the alpine skiing around here was lame as compared to France, and that even cross country was not as developed in our area.

I did spend a day with them on the Royal a few winters back snowshoeing, but we haven't really had enough snow in recent winters at the appropriate time for that to happen again.

I can even get single pane wood windows still... just special order long lead time and very high end. They even option TDL (True Divided Light).

I can also do continuous insulation on the outside with a stud wall interior (CI is a requirement now in our area - even though many are ignoring it).

It is the size of the camp/cottage and a movement towards motorized recreation that makes the change.

Moultonborough will set its tax rate tonight according to agenda.