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Property Taxes

Beach Glass

Senior Member
Boy! Did we get a surprise in the mail. Our property taxes went up 56%.... yes! 56% on ONE year! <!--grumpy--> <!--grumpy-->

I DO understand that property taxes are for the good of the community, and I don't normally vent about them. I know inflation has kicked us in the butt. But a 56% jump??!!

ARGH!
 
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twinmom95

Senior Member
Yikes! We have high property taxes in NH because we don't have sale or income taxes, but we have never had an increase like that!
Did your valuation go up? Everyone here had theirs go up due to all the crazy house prices during the pandemic šŸ˜”
 
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msharkey

Senior Member
So sorry! We sold our house a few years ago in the divorce. EX wanted his money. A$$hole
Anyway... I've had parents in my class that expressed concern about the increase in oil prices.
 

TAOEP

Senior Member
That's a BIG jump. Housing prices have certainly gone up, so some of it is likely the assessed value. In my area, properties are reassessed every three years, so if you've just been reassessed, that can be a shock. Also, taxing bodies have increased expenses, so the levy has likely increased.

Here there's a short window of time for appealing the valuation, but it closes before the tax bills are mailed out. If you believe that your property was unfairly assessed, you could look into appealing.
 

marguerite2

Senior Member
We have had our evaluation go up and been afraid of the bill to come, but after they refigure the tax rate the change has always been small. A 56% rate is huge. Double check that your evaluation is correct on the bill and that all exemptions (homestead, veteran, etc) have been applied.
 

Beach Glass

Senior Member
The value of our property did go up last year (it almost doubled), but because so many people raised a ruckus, the county assessor made a HUGE deal to tell people that the higher valuation would not have a direct correlation with the next year's taxes. Yeah, right. <!--grumpy--> <!--grumpy-->

And, forgive me. My math is rusty after being retired for 7 years. Our increase is actually 58%. Ugh.
 

Summerwillcom

Senior Member
Wow! That is a big jump! Our property values skyrocketed here due to lack of homes and supply costs. During the summer, I knew a few couples who had professional jobs and had recently moved here. They couldn't find a house to buy. I put mine on the market and it sold in less than 24 hours for over 2x what it cost me to build it. I could never have done that if I had not had another place. I will have to see my tax bill.
 

readerleader

Senior Member
In Florida we have Save Our Homes, which caps the amount of an increase in any given year to 3%. It is definitely a reason to stay in your home. A lot of people have come here, purchased homes at the previous assessed tax value and are now having sticker shock because the new assessment value comes into play in year two.
 

GraceKrispy

Senior Member
Oh wow, that is a huge increase :(

Our value skyrocketed after we bought our house (according to online sites), but when I looked recently, the value had gone back down somewhat. I'm not sure what the future will bring.
 

grade2rocks

Senior Member
Wow! And here I was complaining about a 12% increase (which included a school bond which I voted for). Here house prices have started to drop- I was even wondering if it would be worth it asking for an assessor tore-assess.
 
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