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Old 06-27-2012, 10:58 AM
 
Location: Burlington burbs
130 posts, read 237,415 times
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We bought two years ago in Chittenden and had the house reassessed, and yes, our property taxes went down in accordance.
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Old 06-28-2012, 06:31 PM
 
1,617 posts, read 2,459,979 times
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Interesting conversation - very recently, I spoke with one of the lister's in a town office - they specifically asked me if I had any contracts and/or sales re: sale price below town assessed value [which I do] and was advised to have the new owners / purchasers bring their corroborating property transfer form[s] to the office....I have made that recommendation to the purchaser.

Perhaps some towns are being more reasonable than others?
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Old 06-28-2012, 09:58 PM
 
Location: on a dirt road in Waitsfield,Vermont
2,186 posts, read 5,979,896 times
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Just wanted to say that a foundational point about property taxes is that it's divided into two parts, the state tax which is the same for every town. It's the municipal tax that can vary widely from town to town. If your looking at a property sale price that is way below the accessed value that's a good thing in my book.

If the municipal taxes have a high tax rate, then you should stay away from those areas if you think the savings from the low sale price does not balance out the high taxes. Paying a high sale price with high taxes is way worse than the scenerio this thread is about.

Property taxes completely changed in 1997 as a result of Act 60 which came as a result of the legislature, who dilydalleed for 10 years in changing the unequal educational spending, having been given a deadline as a result of an order from the Vermont Supreme Court. Haste caused a bill that no one seems to be happy with. The changes done by Act 68 didn't reallj do much.

If you purchased your home before 1997 than your kind of stuck. But after 1997 you at least have some idea before buying if the property taxes are high. My town re-assessed about 10 years ago, taxes went up, not alot. Now and at least for the next few years a reassessment in many cases will result in lower property taxes.

Most towns are very sensitive about property taxes and will reduce their budgets before raising them. We have this little thing in Vermont called town meeting day. The townspeople, they decide the budget, will not stand for more than a minor rise in their property taxes. Reassessments are predictible since they will happen only if the benchmark is crossed regarding the ratio of assessed value vs the towns grand list. There are exceptions but this is way it happens.

Last edited by MRVphotog; 06-28-2012 at 10:29 PM..
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Old 06-29-2012, 10:53 AM
 
Location: Winter Springs, FL
1,789 posts, read 4,056,149 times
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Quote:
Originally Posted by MRVphotog View Post
Most towns are very sensitive about property taxes and will reduce their budgets before raising them. We have this little thing in Vermont called town meeting day. The townspeople, they decide the budget, will not stand for more than a minor rise in their property taxes. Reassessments are predictible since they will happen only if the benchmark is crossed regarding the ratio of assessed value vs the towns grand list. There are exceptions but this is way it happens.
I agree with you wholeheartedly, but what baffles me is people pass the majority of town budgets without batting an eye. I'm not sure if it's because most people don't vote, if they think a reduced budget means poor services or less of an education. It's very clear that the majority of people living in the state are not rolling in money. Our town rejected the school budget this past year. They made a $300,000 cut from the 33 million budget proposal (a drop in the hat). The next vote passed by several hundred votes and fewer people voted I find it fascinating.
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Old 06-30-2012, 04:01 PM
 
Location: on a dirt road in Waitsfield,Vermont
2,186 posts, read 5,979,896 times
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Quote:
Originally Posted by 68vette View Post
I agree with you wholeheartedly, but what baffles me is people pass the majority of town budgets without batting an eye. I'm not sure if it's because most people don't vote, if they think a reduced budget means poor services or less of an education. It's very clear that the majority of people living in the state are not rolling in money. Our town rejected the school budget this past year. They made a $300,000 cut from the 33 million budget proposal (a drop in the hat). The next vote passed by several hundred votes and fewer people voted I find it fascinating.
Well, Colchester is not your topical town. You have a small town that grew into an upscale bedroom community of Burlington. Then you add all the lakefront second homes, many owned by Vermonters, which range from a camp to a mansion. I seem to remember a fews months ago the lakefront homes felt they got double taxed, in regards, specifically, to property taxes. They appealed which IMHO was an unfair double taxing and won but the town officials still felt the way they were taxed was proper.

In my town and others I am familiar with a haircut in the budget will result in a reduction of services. Whether it's something small like using less salt, not buying a badly needed new school bus, to delaying a major road fix.

Your spot on about a very small % attend, compared to good old days. Lots of reasons for that. A big part of it is dempographics. In many towns, especially Colchester, I would imaging the demographics are very diferent then 20 or 30 years ago.
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Old 07-07-2012, 10:06 AM
 
Location: Vermont
10,281 posts, read 11,166,011 times
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Quote:
Originally Posted by 68vette View Post
I agree with you wholeheartedly, but what baffles me is people pass the majority of town budgets without batting an eye. I'm not sure if it's because most people don't vote, if they think a reduced budget means poor services or less of an education. It's very clear that the majority of people living in the state are not rolling in money. Our town rejected the school budget this past year. They made a $300,000 cut from the 33 million budget proposal (a drop in the hat). The next vote passed by several hundred votes and fewer people voted I find it fascinating.
What's the mystery?

I live in Montpelier, and we almost always pass the school budget, and always pass the town budget and the special requests added to the ballot. It's clear that the voters of Montpelier value the services we receive from our municipal government and schools and are willing to pay for them. This is true even in a year like 2012, when an antitax group (not coincidentally dominated by the members of an antidevelopment group of NIMBYs) agitated against the town budget.
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Old 07-07-2012, 02:27 PM
 
Location: in a cabin overlooking the mountains
3,079 posts, read 3,708,380 times
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The mystery is that in many towns - unlike affluent Montpelier - the majority of homesteaders are not paying their fair share of the property taxes. When you have towns with over 2/3 of the homesteaders getting the "prebate" on their property taxes yet insisting on full services such as immediate snowplowing, public library, etc. It's like ordering the most expensive items on the menu at a restaurant and sending someone else the bill.
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Old 07-08-2012, 08:40 AM
 
Location: Vermont
10,281 posts, read 11,166,011 times
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Income sensitivity doesn't apply to town taxes, just school taxes.
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Old 07-08-2012, 10:09 AM
 
Location: IN
20,786 posts, read 35,818,512 times
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Prices on properties for sale in much of rural NH keep falling as property tax rates have gone up quite a bit over the last few years. There is little demand for properties, even RRR (resort/retiree/recreation) areas. The new 2011 Census update shows population growth about flat as more younger people and families move to lower cost regions outside the area. Older families and retirees are aging in place and the only real source of job growth has been smaller enterprises and healthcare. Who is really going to want to buy a $200K house with $7K in annual property taxes? The buyer pool is more limited, especially in an area that doesn't have the requisite higher wages like Boston, New York, DC, etc.
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