Wolfeboro real estate assessments

[nightrider]

Wolfeboro assessments are out. 20% increase in one year. Even in hot market, that seems excessive. Thoughts?

[chaseisland]

It's easier to multiply by .20 than .135.

[Little Bear]

Originally Posted by nightrider

Wolfeboro assessments are out. 20% increase in one year. Even in hot market, that seems excessive. Thoughts?

You could always move to Tuftonboro, where assessments and TAXES went up 50% for island properties. See, don't you feel better already?

[tummyman]

Check out the depreciation schedules that they are using in the Avitar property cards. There is a new schedule that some towns are using because of a "switch to a new system" that are dramatically different (LOWER) than the depreciation used last year. This causes building values to INCREASE ! Compare the depreciation rate in the bottom right box to that which was used last year...it adversely impacts building values....in some cases significantly. Need to ask WHY !!! And a "new system" is not an adequate answer.

[camp guy]

Just remember, the assessed value of your home is only a part of the tax program. You will have to wait for the budget to be finalized before you can begin to see what the effect will be on your out of pocket expense for property taxes.

[tis]

It seems some lakefront went up about 20 but I heard people say their's went up 30%. The rates go down at first though so you don't notice it as much. The problem is people keep voting things in so the rate creeps right back up again in a few years yet the value is higher.

[winterh]

My assessment went up but still way under what I think it would sell for

[FlyingScot]

Originally Posted by tis

It seems some lakefront went up about 20 but I heard people say their's went up 30%. The rates go down at first though so you don't notice it as much. The problem is people keep voting things in so the rate creeps right back up again in a few years yet the value is higher.

This is the real issue--for any individual homeowner, it does not matter if your value goes up or down by the same amount as the rest of your town's--the tax rate will adjust for these movements. But if you assessment goes up by more than average, then you'll be paying a price. (Of course, it may be fair for your tax bill to be going up relative to your neighbors. That's a separate topic.)

[Tuckntruck]

Meredith did a “Zillow” appraisal. We went up 24% vs the town average of 17. My home on Zillow is now reported as a 1br, 1 bath 700sq fr shack.

I’ll be disputing it when the taxes come out, if only in principal. We added 1200sq ft, another full bath and 2 br last year, and are now closer to 5000sq ft, so it’s expected.

[FlyingScot]

Originally Posted by Tuckntruck

Meredith did a “Zillow” appraisal. We went up 24% vs the town average of 17. My home on Zillow is now reported as a 1br, 1 bath 700sq fr shack.

I’ll be disputing it when the taxes come out, if only in principal. We added 1200sq ft, another full bath and 2 br last year, and are now closer to 5000sq ft, so it’s expected.

But if you added 1200 sq ft, don't you agree that your rate should have gone up by more than the average?

[Tuckntruck]

Originally Posted by FlyingScot

But if you added 1200 sq ft, don't you agree that your rate should have gone up by more than the average?

Maybe, but, I’ll dispute any tax increase. If they want to tax me more, then I want them to justify it. I don’t think the extra space realistically represents a 7% increase in the home value

[tummyman]

Check out what they did to your building depreciation rate....this can adversely impact your building cost. Look at last years percent vs this year.
See my prior post on this topic.....