Quote:
Originally Posted by HalfMiler
Has anyone else received their property assessment from Center Harbor? Town website says letters have gone out to all property owners.
Our assessment has more than doubled. Anyone else? Misery loves company.
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Our Center Harbor assessment is up 32%. Unfortunately, you seem to have a more desirable house than ours (per current market demand), which has made such houses an attractant for escalated valuations as verified by sale prices. If the town budget were to remain static, this will shift a bigger portion (apportionment) of the tax costs to you and away from us. Sorry, but that's how property taxes work. This is also why there are requirements for frequent reevaluations, to apportion taxes fairly based on current market value.
On the positive side, you have a much more valuable property.
As a side note, since the overall valuation of Center Harbor property has almost certainly increased, the tax rate should drop. It is pointless to estimate this year's tax based on the new valuation and last year's tax rate. If you know the overall percent increase in valuation for the town, if your assessment is around that percent then you shouldn't see a big change in your tax payment (again assuming a stable budget and outside revenue). If your percentage is well above the average, you will likely see an increase in taxes. If you are well below the average, a decrease in taxes.
In addition, since the first tax payment (June) is an estimate based on last years valuations and tax rate it takes none of these changes into account. Your December bill will have to take that into account and make up the difference. An example: Say your last years tax was $3000. This June, you paid $1500. Now, suppose your taxes went up 25% this year to a total of $3750. For December you will owe $2250, a lot more than in June. Be prepared.