Quote:
Originally Posted by jeffk
As to "taxation without representation", it's a canard. You have a vote where you have your residence. THAT is where you are most impacted by the result of the town & state policies. How would you like it if huge XYZ corporation moved into your town and and "voted" to slash school, police, fire, and road spending to save themselves money? Or all the lakefront owners did the same thing? The voting structure protects the town funding.
No one is forcing you to buy land here or keep the property and the "vote where you reside" rules are the common way to deal with voting rights in most of the country. This is not new; you (or your ancestors) probably knew the way it worked when you bought the property.
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That is not always the case. If your New Hampshire waterfront property is valued significantly higher than your 'primary residence' then THAT is where you will be most impacted. When you couple that with the $10,000 cap on real estate tax deductions the tax impact can be significant. Property taxes paid on personal use property, second homes and vacation homes, while still deductible as itemized deductions, are subject to the $10,000 limitation.
Yes, everyone knew the rules when they bought (or inherited) but the tax law change in 2017 made a big difference. For example: If the combined real estate taxes from your two homes is $30,000, the 2017 law change took away a $20,000 deduction. If you are in a 30% tax bracket that change cost you $6,000.
Yes, it's a nice problem to have (until you look at how the government spends "your" money!) but it still impacts a lot of people.