No municipalities do not establish a percentage mil rate to assess properties.
No the town does not move the rate up or down.
Management of the municipalities - i.e. budgets - are a function of the residents. For towns, this is a direct vote on the budgets. For cities, it is a representative format whereas the residents can change direction very quickly if they choose to.
We residents set the budgets directly/indirectly. The assessors set the value of each property. There are checks and balances for both. And the State sets the mil rate.
Some States have used a ''homestead'' exemption; but those would just shift taxes from resident-owned primary properties onto others.
And the State of NH has a Real Estate Transfer Tax that covers ever dollar... not just the sale of high end property.
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