Quote:
Originally Posted by bigdog
One thing I didn't see mentioned in this Post was any reference to the
'Age of property' used in valuation ?
I am a Gilford resident and contacted the Assessor's office about my current assessment, and they said this was also a factor in determining valuation. When did this start ???
Their theory was that materials used to build a house today, under current
building regulations, are not the same as they were, 25-50-100 years ago.
Like 2x6 framing, versus 2x4 framing, quality of windows used, roofing, finished basements, etc.
They came up with a long laundry list of differences, which would affect value.
Seems to me they are throwing every possible factor into the house construction they can think of to boost the value, which would increase the taxes. And let's not forget the actual land where the house is built on: AKA 'view' tax', if your property has a view of the lake or mountains, make it more valuable, than a house just 'plunked' down on a vacant lot. And the folks who have waterfront property, OMG !
The old way of determining value by square footage, still applies, but not as much anymore,
many other factors !
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Agreed on most, but a couple of things to keep in mind:
The valuation of any specific house is only to determine the share of the town's total assessments. So the town does not come out ahead when it increases assessments based on age of materials.
The biggest driver in the region is the "view tax". A modest home on the water is worth $500K--$1MM. The same home a few hundred yards away is half that price. A mile from the water, cut it in half again. Among other things, this is a great way to shift the burden to...Massachusetts
