Cap on real estate property tax rates? (Dover: how much, income)

[TootsieWootsie]

I am getting the impression that NH has no cap on the percentage of property tax rates per year that the counties can charge like Florida does (3%) or California (5%) or even Texas (10%). Am I right?

[rmcewan]

Originally Posted by TootsieWootsie

I am getting the impression that NH has no cap on the percentage of property tax rates per year that the counties can charge like Florida does (3%) or California (5%) or even Texas (10%). Am I right?

The main tax rates are set by the town, not the county (county services are a portion of the town tax though). Dover is currently debating a tax cap - but that is a cap on how much it can RISE in one year. Other towns probably have tax increase caps in place, but I can't say for sure.

However, as taxes are set by the town council, selectmen, etc. then then think of the next election as the cap. You mess up town finances, overspend on pet projects, then you'll be out next time around. Even on the local level, it gets pretty vicious at election time.

[TootsieWootsie]

I am sorry. What I meant is how much the property tax rates are allowed to RISE each year. No caps? Ooooohhhh, I smell trouble in the future...
Dover is smart to get that settled and done with now.

[rmcewan]

Originally Posted by TootsieWootsie

I am sorry. What I meant is how much the property tax rates are allowed to RISE each year. No caps? Ooooohhhh, I smell trouble in the future...
Dover is smart to get that settled and done with now.

Well, NH doesn't have a cap on personal income tax either...

[TootsieWootsie]

NH taxes on earnings off interest and dividends is all I know of that NH charges for personal income tax. That is a 5% rate.
What are you talking about? I'm confused.

[WannaComeHome]

Originally Posted by TootsieWootsie

NH taxes on earnings off interest and dividends is all I know of that NH charges for personal income tax. That is a 5% rate.
What are you talking about? I'm confused.

Tootsie, people don't really consider that 5% when they talk about income tax, it's more of an aside. I think they're joking.

As to a tax cap, it's like RMcEwan said, each tax is set by the town - the county has nothign to do with it. Each town decides what it needs, and everyone can go to town meetings. Also, I've noticed that sometimes when a particular town's taxes get way out of line, they seem to do some sort of jiggering and refigure/assess things and suddenly the tax rate drops much more sensibly (dunno if the assessments go higher to make up for it or not....). I've seen that happen with some.

[rmcewan]

Originally Posted by TootsieWootsie

NH taxes on earnings off interest and dividends is all I know of that NH charges for personal income tax. That is a 5% rate.
What are you talking about? I'm confused.

What I mean is: There is no LAW that caps income tax at zero % or bans an income tax in NH. That doesn't mean there WILL be an income tax.

In the same way at city level. You don't NEED a law to cap tax increases. The voters will get rid of a city government that increases taxes for no good reason.

This is the NH way. E.g. No seatbelt law. Why? Common sense says buckle up. Don't legislate just to keep stupid people alive ;-)

[TootsieWootsie]

Ahhh..okay. Guess that means it is a smart move to get involved in local politics. Now that is something I was very interested in, anyway, as I never had time to do it the last 25 years. Great!
I know the 5% interest on dividends/interest is an aside, but it isn't an aside for those of us stuck paying it, I'll bet. Not complaining, tho.
This is a VERY Libertarian State? Wish I knew this 25 years ago, and I would have raised my son here.

[Dwatted Wabbit]

^^ Live Free or Die.

[WannaComeHome]

well, the Libertarians are targeting the state as a place to move to.. it's definately got a rep for 'as long as you don't bother me I don't really care what you do - and vice versa' and trying to run on common sense prevailing rather than trying to legislate for dummies <sigh>.

Different parts of the state have different degrees of this - south central & seacoast are a bit more liberal because of the proximity to Boston (and suburbs). I think it's great that NH votes presidentially the way it wants, and not as part of a block with the rest of New England (it may agree, it may not)