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Originally Posted by This'nThat
This is a lot better than Mass (proposition 2 1/2 is designed to keep taxes under 2.5%)!
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Mass 2 1/2 keeps the levy from rising more than 2.5 % in one year unless approved by the voters. It doesn't mean you pay 2.5% of the value of your house per year. My Mass house tax is less than 1% of the value per year. I actually think a law like 2 1/2 would be good in NH, but don't expect the politicians to advocate for it.
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Originally Posted by mattmike
I was upset that my taxes went from $8000 to $14,000 in the 4 years I owned my waterfront home. I got over it when I made a $400,000 profit on the sale. You can't have it both ways.
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Bingo, thank you.
Personally, I've owned in the Lakes region for about 8 years now, I knew what I was getting into and planned for it. I don't see that lake properties are targeted per se but just worth more than properties away from the lake. My taxes have gone up, but so has the value of my property.
Time and time again I hear of properties that have huge increases in value over a short period of time. Usually these properties have been underpaying taxes for years, forcing the rest of us to pick up the slack.