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Originally Posted by CTYankee
I don't see where the language in either of these bills refers to the creation of a homestead exemption for primary homes. If that is the intent of the legislature than it should be expressed in the language of the bills. If you are referring to a de facto creation of a homestead exemption that is not at all what is proposed.
The bills as proposed create classes of property owners. They are very clearly aimed at those who own second or vacation homes. Many seasonal camps where I am on Bear Island in Meredith are generational free of mortgage and not owned by wealthy families. These families fall squarely within the crosshairs of these bills. The value of the properties has gone up over the years once the monied class became willing to pay fantastic prices.
The real effect of this misguided legislation is the gentrification of New Hampshire. They would create forces requiring many families to sell to make room for the wealthy who really don't care about surtaxes. This is the macro environment that will be created. These bills are not about a homestead exemption. They are about creating classes of citizen taxpayers. They are especially aimed at property owners that can't vote, very unamerican.
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A homestead exemption, even de facto, would mean aiming taxes at second and vacation homes.
NH does things a bit differently, but the end results are the same. The bill would raise taxes from second homes that did not meet the exemptions in the bill, and with that amount being deducted from the amount that is to be raised to cover the budgets, lower the taxation on the other properties.
The current situation is that wealth will cause the market value to rise, and thus the assessments of like properties, shifting taxation to those properties within the classification - regardless of ownership status.
NH has been "American" since the beginning, and has had differing property classes since its founding.