Gilford Tax Rate

JEEPONLY · 11-28-2019, 11:12 AM

Quote:

Originally Posted by jeffk

The evaluation for our house in Center Harbor (non
The good news is that our standard deduction increases by $400 in 2019 so that deducts MORE than our property tax increase.

Isn't America Great?!!!

Do you know if this is clearly expressed on the tax return forms?

Descant · 11-30-2019, 01:59 PM

For me, the IRS instructions try to be precise, and in the end fail to give a short summary. You have to add up your deductions and compare to the standard deduction. Looking at your 2018 return will tell you since this was all in effect in 2018. For most of us, I'd guess our deductions are comparable from year to year unless there is something like a big medical expense or such.

A CPA might review your previous years and suggest some strategies.

camp guy · 12-03-2019, 09:18 PM

Not Gilford specific, but taxes in general. It looks like with the IRS and all the gymnastics associated with what is, and what is not, a deduction, that pretty soon we will all be under the tax program that used to be talked about in a joking manner - How much did you make? Send it in!

bigdog · 12-06-2019, 11:20 AM

Just opened my Gilford tax bill and was totally SHOCKED !

With the new tax rates my taxes have jumped a whopping 21% which sounds absurd ! The town has my property valued at $397k, previous tax bill had valuation at $335k a net difference of $62k.
21% increase, seriously ?

I checked Zillow for valuation and it had my property at $369k. Almost a $30k difference from town assessment. I understand Zillow cannot be used as a trued estimate but it's certainly closer than the town assessment.

I think if I went to the bank for a mortgage, even they would not assess my property for the $396k that the town has estimated, not even close !

Now I have to go to the Gilford Assessor's office to fight my case. I expect them to tell me to pay the tax bill and file for an Abatement.

I wonder if the town will reimburse me for any Abatement refunds (if any),
with 8.0% interest on my money, that they charge taxpayers for late tax payments ?

What's that expression about fighting 'City Hall', sounds like a loosing battle ?

Bigstan · 12-06-2019, 12:30 PM

Quote:

Originally Posted by bigdog

Just opened my Gilford tax bill and was totally SHOCKED !

With the new tax rates my taxes have jumped a whopping 21% which sounds absurd ! The town has my property valued at $397k, previous tax bill had valuation at $335k a net difference of $62k.
21% increase, seriously ?

I checked Zillow for valuation and it had my property at $369k. Almost a $30k difference from town assessment. I understand Zillow cannot be used as a trued estimate but it's certainly closer than the town assessment.

I think if I went to the bank for a mortgage, even they would not assess my property for the $396k that the town has estimated, not even close !

Now I have to go to the Gilford Assessor's office to fight my case. I expect them to tell me to pay the tax bill and file for an Abatement.

I wonder if the town will reimburse me for any Abatement refunds (if any),
with 8.0% interest on my money, that they charge taxpayers for late tax payments ?

What's that expression about fighting 'City Hall', sounds like a loosing battle ?

Was that a waterfront property by chance ?

Descant · 12-06-2019, 02:43 PM

I think you can call the Assessing Dept and get the addresses of comps that you can then look up on line to compare to your property. The tax cards also give some history of assessments and sales.

bigdog · 12-06-2019, 03:25 PM

Quote:

Originally Posted by Descant

I think you can call the Assessing Dept and get the addresses of comps that you can then look up on line to compare to your property. The tax cards also give some history of assessments and sales.

Descant,
I went to the Gilford Assessor's office and they provided me the addresses of Comps used. The Comps used were from Sales between 5/1/18 - 9/30/19. that you can then look up on line to compare to your property. I purchased my property 6/1/18, but it is not on that list, and not sure why ?

I did notice an address on that list, on my same road, only a few houses away, the sales price and assessment value was a difference of about $13k. $329k vs $$352k respectively. That house was purchased in Apr 2018.

My house was purchased in June 2018, for $329k and new assessed for $396k
Thats a tax valuation difference of $67k. So what makes my neighbor's house worth $45k less than my house, I have no idea ???? I have made NO improvements to my property since I moved in.

Honestly, I don't think if I put my house up for sale, I could get $396, not could I get a mortgage for that amount. If you want to buy my house for $400k, let's do the deal, you can have it all, I'll just take my clothes !

Descant · 12-06-2019, 04:54 PM

Quote:

Originally Posted by bigdog

Descant,
I went to the Gilford Assessor's office and they provided me the addresses of Comps used. The Comps used were from Sales between 5/1/18 - 9/30/19. that you can then look up on line to compare to your property. I purchased my property 6/1/18, but it is not on that list, and not sure why ?

I did notice an address on that list, on my same road, only a few houses away, the sales price and assessment value was a difference of about $13k. $329k vs $$352k respectively. That house was purchased in Apr 2018.

My house was purchased in June 2018, for $329k and new assessed for $396k
Thats a tax valuation difference of $67k. So what makes my neighbor's house worth $45k less than my house, I have no idea ???? I have made NO improvements to my property since I moved in.

Honestly, I don't think if I put my house up for sale, I could get $396, not could I get a mortgage for that amount. If you want to buy my house for $400k, let's do the deal, you can have it all, I'll just take my clothes !

Thanks for the detailed response. The neighbor who went from $329K to $352K, and increase of 7% doesn't seem unreasonable in today's market place. (That's a difference of $23K, not $13K) Nevertheless what we see here makes $396 appear out of line.
As I understand it, assessments are supposed to be as of April 1 each year, so I don't know if a sale in September 2019 should be part of the calculation.

bigdog · 12-06-2019, 02:46 PM

Bigstan.....

To answer your question.... my property 'is not' waterfront nor do I have a 'view' as they might from a mountain-top view, or a 'water-view'.

If I did, I would understand my huge percentage increase in property tax.

Bigstan · 12-06-2019, 03:38 PM

Quote:

Originally Posted by bigdog

Bigstan.....

To answer your question.... my property 'is not' waterfront nor do I have a 'view' as they might from a mountain-top view, or a 'water-view'.

If I did, I would understand my huge percentage increase in property tax.

Uh-oh, I have both frontage and thus obviously a view. So I'm screwed, guess I'll avoid the mailbox this weekend.

11-30-2019, 01:59 PM	#2
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,600 Thanks: 1,418 Thanked 1,705 Times in 1,109 Posts	Clearly explained? For me, the IRS instructions try to be precise, and in the end fail to give a short summary. You have to add up your deductions and compare to the standard deduction. Looking at your 2018 return will tell you since this was all in effect in 2018. For most of us, I'd guess our deductions are comparable from year to year unless there is something like a big medical expense or such. A CPA might review your previous years and suggest some strategies.

12-03-2019, 09:18 PM	#3
camp guy Senior Member Join Date: Apr 2004 Location: formerly Winter Harbor, still Wolfeboro Posts: 1,224 Thanks: 317 Thanked 560 Times in 310 Posts	Tax rate Not Gilford specific, but taxes in general. It looks like with the IRS and all the gymnastics associated with what is, and what is not, a deduction, that pretty soon we will all be under the tax program that used to be talked about in a joking manner - How much did you make? Send it in!

12-06-2019, 11:20 AM	#4
bigdog Senior Member Join Date: Apr 2006 Location: Central MA-Gilford Posts: 1,459 Thanks: 357 Thanked 126 Times in 100 Posts	Gilford Tax Bill Shock ! Just opened my Gilford tax bill and was totally SHOCKED ! With the new tax rates my taxes have jumped a whopping 21% which sounds absurd ! The town has my property valued at $397k, previous tax bill had valuation at $335k a net difference of $62k. 21% increase, seriously ? I checked Zillow for valuation and it had my property at $369k. Almost a $30k difference from town assessment. I understand Zillow cannot be used as a trued estimate but it's certainly closer than the town assessment. I think if I went to the bank for a mortgage, even they would not assess my property for the $396k that the town has estimated, not even close ! Now I have to go to the Gilford Assessor's office to fight my case. I expect them to tell me to pay the tax bill and file for an Abatement. I wonder if the town will reimburse me for any Abatement refunds (if any), with 8.0% interest on my money, that they charge taxpayers for late tax payments ? What's that expression about fighting 'City Hall', sounds like a loosing battle ?

12-06-2019, 02:43 PM	#6
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,600 Thanks: 1,418 Thanked 1,705 Times in 1,109 Posts	Comps I think you can call the Assessing Dept and get the addresses of comps that you can then look up on line to compare to your property. The tax cards also give some history of assessments and sales.

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12-06-2019, 02:46 PM	#9
bigdog Senior Member Join Date: Apr 2006 Location: Central MA-Gilford Posts: 1,459 Thanks: 357 Thanked 126 Times in 100 Posts	Bigstan..... To answer your question.... my property 'is not' waterfront nor do I have a 'view' as they might from a mountain-top view, or a 'water-view'. If I did, I would understand my huge percentage increase in property tax.