Help for high property taxes - PASS THIS!

Rattlesnake Guy · 12-07-2011, 06:40 PM

OK, now I am confused.

Is it a cap on the total taxes that can be raised?

or

Is it a cap on the tax rate?

It makes little sense to cap the rate as the it will change as a result of the simple calculation done each year.

Tax Rate = total taxes to be raised / (total value of property as currently valued / 1000)

The town can't fix the second half of the equation. It would be nice if they could control the first half.

I don't care if my rate goes down but my tax bill goes up.

ITD · 12-07-2011, 07:26 PM

RG,

We have prop 2 1/2 here in taxachusetts and it caps the levy increase at 2 1/2 percent. Unfortunately most if not all towns take the max increase each year. But, were this not in place the increases would be much higher, which was the motivation for the proposition in the first place. When prop 2 1/2 first came in, the average tax bill was maybe $500, now the average tax bill is more like $4,000 so 2 1/2 percent is a much larger chunk out of a pay check or social security check than it used to be.

I read the RSA, but I didn't see where it mentioned how this would be done. I would assume that the only way to do this is to limit the levy. Which would limit the rise on your tax bill, except when revaluation years potentially skew things.

Slickcraft · 12-07-2011, 08:29 PM

Quote:

Originally Posted by Rattlesnake Guy

OK, now I am confused.

Is it a cap on the total taxes that can be raised?

or

Is it a cap on the tax rate?

It makes little sense to cap the rate as the it will change as a result of the simple calculation done each year.

Tax Rate = total taxes to be raised / (total value of property as currently valued / 1000)

The town can't fix the second half of the equation. It would be nice if they could control the first half.

I don't care if my rate goes down but my tax bill goes up.

Did you read the actual wording of the law in post #5? Clearly it is a cap on taxes to be raised.

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode

12-07-2011, 06:40 PM	#1
Rattlesnake Guy Senior Member Join Date: Sep 2004 Posts: 1,254 Thanks: 423 Thanked 366 Times in 175 Posts	OK, now I am confused. Is it a cap on the total taxes that can be raised? or Is it a cap on the tax rate? It makes little sense to cap the rate as the it will change as a result of the simple calculation done each year. Tax Rate = total taxes to be raised / (total value of property as currently valued / 1000) The town can't fix the second half of the equation. It would be nice if they could control the first half. I don't care if my rate goes down but my tax bill goes up.

12-07-2011, 07:26 PM	#2
ITD Senior Member Join Date: Apr 2004 Location: Moultonboro, NH Posts: 2,953 Thanks: 484 Thanked 703 Times in 393 Posts	RG, We have prop 2 1/2 here in taxachusetts and it caps the levy increase at 2 1/2 percent. Unfortunately most if not all towns take the max increase each year. But, were this not in place the increases would be much higher, which was the motivation for the proposition in the first place. When prop 2 1/2 first came in, the average tax bill was maybe $500, now the average tax bill is more like $4,000 so 2 1/2 percent is a much larger chunk out of a pay check or social security check than it used to be. I read the RSA, but I didn't see where it mentioned how this would be done. I would assume that the only way to do this is to limit the levy. Which would limit the rise on your tax bill, except when revaluation years potentially skew things.

The Following User Says Thank You to Slickcraft For This Useful Post:
Rattlesnake Guy (12-09-2011)