"Real liberty is neither found in despotism or the extremes of democracy, but in moderate governments.
Alexander Hamilton

Thursday, December 24, 2015

Merry Christmas

While the weather has a decidedly non- Christmas feel, 'tis the season nonetheless.
To all citizens and residents of Moultonboro, visitors and families near and far, to all our Town employees and volunteers, (thank you to all those that must be on the job for the holiday), have a very merry and safe Christmas.


Joseph Cormier said...

This took about five minutes ... can you imagine a battery of lawyers hired to fight a dumb move. And some think SB-2 is dumb. It is just an extension of the same arguments of non-resident taxpayers, except they would be resident, registered, taxpayers, being allowed to vote, because they cannot, at the town hall séance, for whatever reason.

72:39 Exemption for Persons 68 Years or Over. – [Repealed 1996, 140:10, I, eff. Jan. 1, 1998.]

Maybe the legislature should reconsider the repeal!


RSA 72, 73, 75, 76, 78-A, 78-B, 79-A & 540-A

Real property taxes in the State of New Hampshire are referred to as ad valorem taxes. As you recall, that is a tax based on the value of the property. The property tax year runs from April 1st to March 31st and the tax is based on an inventory taken in April of each year. The real property tax is an obligation of the owner as of April 1st.

Although you should check with each individual town, if there is only 1 payment it is due on December 1st , if the town voted for 2 collections the first is due June 1st with that payment based upon ½ the previous years taxes with the balance due on December 1st which will reflect the new assessment. Each payment represents two months in arrears and four months in advance. For example, the June payment is for April and May in arrears and June, July, August and September in advance.

By statute, real property assessment is to be based on fair market value. Fair market value represents what a ready, willing and able buyer can pay for property that has been reasonably exposed in the marketplace with neither party under undue duress.

EXEMPTIONS: There are a number of general exemptions from real property taxation. They include:
1. Property owned by the U.S. Government 2. Public property 3.Public utilities 4.Property used for charitable purposes 5.Burial places 6.Veteran's organizations 7.Houses of public worship 8. Veteran's exemptions, 9. Elderly exemptions 10.Disabled exemptions


Merry Christmas, and for those that object to the salutation ...

May a thousand camels ...**** ... on your grave!

Anonymous said...

Just a slight correction on the due dates listed above, the first payment will be due July 1 not June 1. If the bills are mailed out on or after June 1st or November 2nd, interest shall not be charged until 30 days after the bills are mailed.

With reference to your comment "Each payment represents two months in arrears and four months in advance. For example, the June payment is for April and May in arrears and June, July, August and September in advance" this is how a closing company or attorney would prorate the taxes at the time of a closing between April 1st and the end of September, but it is not a true representation of the proration of taxes between the buyer and seller due to it being based on the previous year's tax rate and valuation. Therefore, there is usually a Proration Agreement signed at the time of closing indicating that the proration is an "estimate" of that year's taxes which may need to be re-prorated by the Buyer and Seller once the 2nd tax bill is available.

You must remember that although we bill twice a year there is only one "total" tax for the year. The July billing is a partial payment due of the taxes assessed on April 1 and is computed by taking the prior year’s assessed valuation times ½ of the previous year’s tax rate. Once the Town has completed the current year's values and the State sets the tax rate, the 2nd and final bill recalculates the "total" taxes for that tax year (covering the period of April 1st through March 31st), minus the payment made on the July billing. Once the final tax bill is issued,the buyer and seller may want to recalculate the tax proration that was conducted at the time of closing as it was based on estimated figures as opposed to the actual figures. The parties will usually only request this if the total taxes were increased or decreased substantially and one party owes the other more than what was calculated at the closing.

I know this is "clear as mud" but that is NH law for you.

Susette Remson, Moultonborough Certified Tax Collector

Joseph Cormier said...

Not only does Susette point out the corrections to the post, but demonstrates the need to go to the source documents, if accuracy is paramount.

As mentioned above, a quick search, about 5 minutes, produces "fodder" for subject matter. My post even forgot to put the quotes in quotation marks. Too surprised about the subject. I even posted, in my haste, on the wrong thread. Merry Christmas and property taxes ????

The statements are quotes from a 2014 real estate workshop, notwithstanding the mentioning of the RSA's.
The URL link is the source.

Thank you Susette. It gives a sense of confidence that the competency our elected officials, and other town employees, are looking out for the town and town folk!