Maybe I don't understand this correctly. If I do, I see the potential for a significant disruption in the real estate market. I know there are a lot of out of state residents who own second homes in New Hampshire.
If an out of state resident owns a summer or weekend home in New Hampshire, valued at over $500,000, and it is not their primary residence, then this legislation would seem to apply. They could have a significant increase in their real estate taxes.
If the bill passes, to avoid the tax increase, many of those people might change their residence to New Hampshire and become part of the voting base. How will that change the votes and budgets in these small towns?
I see the other unintended consequence as a lot of movement in the real estate market. People who can't or won't change to be New Hampshire residents may sell their homes to avoid the tax increase. That may result in a lot of homes, many waterfront, changing hands. That could have an effect on prices.
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