Center Harbor Assessments

[jeffk]

Originally Posted by bruinsfan

Total 2022 Property Tax Rate = $8.99.

https://www.centerharbornh.org/home/...perty-tax-rate

Well, my actual tax bill will go down about 22%. I know that the people on the lake will be picking that up. That's the way property taxes work. Their valuations went up a lot more than mine.

[jeffk]

With a little digging I found that the new Center Harbor town valuation for 2022 is $717,205,779 compared to $438,620,781 last year. That is a 63.5% increase in valuation.

By my math (subject to review), with spending being flat, the new tax rate would be:

$15.27 (2021 rate) X ($438,620,781/$717,205,779) = $9.34

Since the actual rate set is $8.99, obviously spending has dropped a bit. I won't go into details, and it is always possible I made a math error, but it looks like the municipal, state ed, and local ed rates (and comparative spending) all went down a bit more than the valuation adjustment would result in. The county rate went up more than the valuation adjustment.

There are many influencers on these numbers, but overall the government seems NOT to have increased spending, which is good.

So, if your taxes in Center Harbor have gone up, it is because your property values have spiked more than the average 63.5% and the tax burden has been shifted to you. It's how the property tax game is played but OUCH!

[HalfMiler]

Using the math above ($8.99 rate) with our new new assessed value would put our tax bill roughly level with years past.

I say new new because the original valuation letter we received said the town was taking appointments over three days for arguments from property owners. My husband called immediately and found the three days were full and he was given a later time. The person he spoke with confirmed they did immediately value any lot with direct waterfront at $2mm. We have not received the updated letter, but looking online at our property card the valuation has been updated - downwards.

[Susie Cougar]

Originally Posted by HalfMiler

Using the math above ($8.99 rate) with our new new assessed value would put our tax bill roughly level with years past.

I say new new because the original valuation letter we received said the town was taking appointments over three days for arguments from property owners. My husband called immediately and found the three days were full and he was given a later time. The person he spoke with confirmed they did immediately value any lot with direct waterfront at $2mm. We have not received the updated letter, but looking online at our property card the valuation has been updated - downwards.

What did they use as a standard waterfront lot size? 100 feet? What happens if you have 200 or 300 feet?

[HalfMiler]

Originally Posted by Susie Cougar

What did they use as a standard waterfront lot size? 100 feet? What happens if you have 200 or 300 feet?

I don't think my husband got into it but from what I observed anyone who had waterfront land started at $2mm, regardless of lot size. So you could be on half an acre and be assessed at $2mm for the land. Or you could be on 10 acres and be assessed $2.6mm for the land. It looked to be more a baseline with not super significant escalation upward for size of lot.

Island waterfront and deeded access started at $1mm.

[C-Bass]

Got my tax bill today for Moultonborough, $4.38/per thousand, $1600/yr. My total tax went down by $400. I was expecting a big increase, I'll take it...

[tis]

Originally Posted by Susie Cougar

What did they use as a standard waterfront lot size? 100 feet? What happens if you have 200 or 300 feet?

If it's still the same, you pay extra up to a certain amount of footage and then no more. I should remember that amount but don't.

[longislander]

Municipal $3.72
County $0.84
Local Education $3.49
State Education $0.94
Total 2022 Property Tax Rate = $8.99
all are $/$1000 of assessment

Then,

$3.72 = tax effort divided by valuation
let y = tax effort,
then,
$3.72 = y/ $717,205,779
y = $.00372 x $717,205,779
y = $2,668,005 (municipal tax effort)

the other three parts of the total tax effort
$.84= y/$717,205, 779
y = $.00084 x $717,205,779
y = $602,453 county tax effort

$3.49 = y/$717,205,779
y = .00349 x $717,205,779
y = $2,503,048 local ed. tax effort


$.94 = y/$717,205,779
y = .000094 x $717,205,779
y = $674,173 state ed. tax effort


$2,668,005 + $602,453 + $$2,503,048 + $674,173 =
$6,447,679 the total tax effort

Total tax effort divided by the valuation = tax rate

$6,447,678 divided by $717,205,779 = .008989 or $8.99/1000 of valuation



Might ask town tax collector when should Center Harbor show up on this NH DRA site.

https://www.revenue.nh.gov/mun-prop/...-tax-rates.pdf

https://www.centerharbornh.org/tax-c...ax-information

[John Mercier]

Originally Posted by jeffk

With a little digging I found that the new Center Harbor town valuation for 2022 is $717,205,779 compared to $438,620,781 last year. That is a 63.5% increase in valuation.

By my math (subject to review), with spending being flat, the new tax rate would be:

$15.27 (2021 rate) X ($438,620,781/$717,205,779) = $9.34

Since the actual rate set is $8.99, obviously spending has dropped a bit. I won't go into details, and it is always possible I made a math error, but it looks like the municipal, state ed, and local ed rates (and comparative spending) all went down a bit more than the valuation adjustment would result in. The county rate went up more than the valuation adjustment.

There are many influencers on these numbers, but overall the government seems NOT to have increased spending, which is good.

So, if your taxes in Center Harbor have gone up, it is because your property values have spiked more than the average 63.5% and the tax burden has been shifted to you. It's how the property tax game is played but OUCH!

The math can be tough due to secondary revenues - registrations/etc.
The expenditures would have been set by town vote back last spring.

[longislander]

Here's a dated NH DRA piece, but present process is same.

https://www.revenue.nh.gov/documents...2021_FINAL.pdf

[longislander]

$15.27 (2021 rate) X ($438,620,781/$717,205,779)

Old tax rate: $15.27/$1000
New tax rate: $8.99/$1000
41% decrease

Assessment up 63.5%

Assessment x tax rate = tax bill
63.5% increase x 41% decrease = new tax bill

If the billing is like in Moultonborough, 1/2 of this latest "Dec. 2022" bill is due , less the July 2022 tax bill paid. The other half is your July 2023 bill.

[jeffk]

Originally Posted by longislander

Old tax rate: $15.27/$1000
New tax rate: $8.99/$1000
41% decrease

Assessment up 63.5%

Assessment x tax rate = tax bill
63.5% increase x 41% decrease = new tax bill

If the billing is like in Moultonborough, 1/2 of this latest "Dec. 2022" bill is due , less the July 2022 tax bill paid. The other half is your July 2023 bill.

Not for Center Harbor. The WHOLE bill minus the July 2022 payment is due. If you pay by Jan 3rd, you get a 2% early pay discount on the balance due.

[longislander]

I stand corrected. Need to slow down some times. Thanks.
MoBo 's process is the same except for the discounr. We get

8% APR Charged After 01/11/2023


"The tax rate is set in the fall of the year. The final bill is calculated using the new rate multiplied by your property’s assessed value as of April 1st less any payments made on the first bill. Printed and mailed in the middle to end of October, it is usually due December 1st each year. Interest at 8% per annum is charged on tax bills not paid by the due dates."



https://www.moultonboroughnh.gov/tax...illing-process

[pondguy]

Anyone know what the Meredith tax rate is yet?

[longislander]

Looks like $13.97

https://www.revenue.nh.gov/mun-prop/...-tax-rates.pdf