Ski Magazine 2017-18 Eastern Resort Rankings - Page 6

AlpineZone

Page 6 of 9 FirstFirst ... 45678 ... LastLast
Results 51 to 60 of 84
  1. #51
    Quote Originally Posted by cdskier View Post
    I didn't say "why", I said "what", as in please explain how they are calculating the "effective" rate to account for differences in real estate values for comparable properties in different states.
    That's what Effective property tax is.

    It's a way to compare apples-to-apples in different areas (not just states) by dividing the property's value by the property tax paid on it. A big number is bad, it means you're paying a big chunk of your homes value each year in taxes, and thus getting less (or even LOSING) money on your real estate investment. In a state like New Jersey or Connecticut or New Hampshire, if you're home isn't appreciating at least 2% per year, your ROI is underwater just based on taxes alone, not even including other home costs, etc....

    Quote Originally Posted by Smellytele View Post
    I think some think that it is not very family friendly and just a party mountain with a bunch of hardos. Not saying I think that but have had others mention that they didn't like the clientele.
    I agree that that's got to be a big chunk of it, all the Joey Juice's that descend on the place, and probably the perceived crowding in general.

    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  2. #52
    Quote Originally Posted by Smellytele View Post
    I think some think that it is not very family friendly and just a party mountain with a bunch of hardos. Not saying I think that but have had others mention that they didn't like the clientele.
    What is a “hardo” ? Is it someone who thinks they are / brags about being hardcore but are actually a relative noob? How do hardos differ from gapers?

  3. #53
    Smellytele's Avatar
    Join Date
    Jan 2006
    Location
    Right where I want to be
    Posts
    5,735
    Quote Originally Posted by urungus View Post
    What is a “hardo” ? Is it someone who thinks they are / brags about being hardcore but are actually a relative noob? How do hardos differ from gapers?
    gapers are more ski specific but gapers don't always think they are cool where hardos do.
    2010/11 - 30days 2011/12 - 29days 2012/13 - 40 days 2013/14 - 39 days 2014/15 - 42 days
    2015/2016 -27 days 2016/17 - 51 days

  4. #54
    Quote Originally Posted by BenedictGomez View Post
    That's what Effective property tax is.

    It's a way to compare apples-to-apples in different areas (not just states) by dividing the property's value by the property tax paid on it. A big number is bad, it means you're paying a big chunk of your homes value each year in taxes, and thus getting less (or even LOSING) money on your real estate investment. In a state like New Jersey or Connecticut or New Hampshire, if you're home isn't appreciating at least 2% per year, your ROI is underwater just based on taxes alone, not even including other home costs, etc....
    Are we talking assessed value? If so, I still don't see how this results in comparing apples to apples. How is this going to result in a different tax rate than what is listed on your local property tax bill? If we're not talking the assessed value, then how are they coming up with the value?

    Feel free to provide real examples to help illustrate.

    If a 2BR condo in town A in NJ has an assessed value of $200K and the town has a property tax rate of 2.5%, your taxes are 5K.
    If a similar 2BR condo in town B in VT has an assessed value of $100K and the town has a property tax rate of 2%, your taxes are 2K.

    How would the effective tax rate of either of these properties be different than the "real" tax rate?

  5. #55

    Join Date
    Nov 2016
    Location
    Mad River Valley / MA
    Posts
    230
    This real-estate conversation is making my head spin. What, do you guys work in that industry or what? Geese! All I know is I have a second home in Warren and compared to my local friends, I am getting crucified. I pay for schools and other things I don't even use. It is total taxation without representation. I feel like grabbing some maple syrup and throwing it in the mad river dressed as an Indian. LOL

  6. #56
    Quote Originally Posted by cdskier View Post
    Are we talking assessed value? If so, I still don't see how this results in comparing apples to apples. How is this going to result in a different tax rate than what is listed on your local property tax bill? If we're not talking the assessed value, then how are they coming up with the value?
    What you're talking about (it seems I think) is nominal tax value based on assessed value. An effective tax rate considers market value, which is more useful and far more realistic depending on where you live. In some areas, the assessed versus market value will be trivial, in other areas it can be gigantic. It's the percentage of actual home value (that could realistically be garnered on the open market) that you're paying in taxes each year. If this doesn't explain it, I'm not sure how else I can take a crack at it. Perhaps Google it.
    President - Bicknell's Thrush Extermination Solutions (BTES), LLC



  7. #57
    Quote Originally Posted by Hawk View Post
    This real-estate conversation is making my head spin. What, do you guys work in that industry or what? Geese! All I know is I have a second home in Warren and compared to my local friends, I am getting crucified. I pay for schools and other things I don't even use. It is total taxation without representation. I feel like grabbing some maple syrup and throwing it in the mad river dressed as an Indian. LOL
    On a percentage basis, you should be paying less than your local friends (a whopping 0.0179 % less). This year's VT education tax rate in Warren is 1.5737 for residents vs 1.5558 for non-residents. The municipal rate portion is the same for both (0.51). Yes, we're paying money for schools we don't use, but that's not surprising and happens in many/most places with 2nd home owners.

    As to BG's latest response, I see what he's saying, but I still don't think he understood my original point then. If market values in 2 places are drastically different (i.e. a 2BR condo in town B costs twice what it does in town A), then unless there's also a very significant difference in tax rates between those two towns, your taxes are lower in town A even with similar tax rates simply by virtue of the property value being lower. "Effective" tax rate doesn't change that. That was my original point on why VT (compared to NJ at least) is not exactly what I would consider ridiculously high in terms of property taxes. And thus why tax rate alone is not a reason to decide to buy a second home in a location other than VT. For me, if I want a 2nd home near a major ski area in the northeast, I'm looking at NY, VT, NH, and ME. ME is out right away as it is too far for me (although taxes there are indeed lower than the other 3). The other 3 all have property tax rates a bit over or around 2% on average, so there's no major difference between them for taxes unless there's a difference in market values of the properties you are considering.

  8. #58

    Join Date
    Nov 2016
    Location
    Mad River Valley / MA
    Posts
    230
    I am looking at my 2016 bill and we have a Muni rate of .46 and a non-residention Edu rate of 1.53 so that shows how much it went up this year. But something seems wrong. Are you sure the residents Edu rates are higher? That was not what I was lead to believe.

  9. #59
    Quote Originally Posted by Hawk View Post
    I am looking at my 2016 bill and we have a Muni rate of .46 and a non-residention Edu rate of 1.53 so that shows how much it went up this year. But something seems wrong. Are you sure the residents Edu rates are higher? That was not what I was lead to believe.
    It varies year to year (and town to town in VT). When I first bought my condo back in 2011, non-residential rates in Warren were higher than resident rates. The past 2 or 3 years it has changed and now we pay less. Current rates (as well as links to rates for the past 6 years for every town in VT) are all available here: http://tax.vermont.gov/property-owne...tion-tax-rates.

    And yes, the rates went up, but my taxes actually went down on the 2017 bill (they lowered the assessed value of my condo earlier this year based on comparable sales or something like that).

  10. #60
    Quote Originally Posted by Hawk View Post
    This real-estate conversation is making my head spin. What, do you guys work in that industry or what? Geese! All I know is I have a second home in Warren and compared to my local friends, I am getting crucified. I pay for schools and other things I don't even use. It is total taxation without representation. I feel like grabbing some maple syrup and throwing it in the mad river dressed as an Indian. LOL
    I can relate. It's tough when you shell out a bunch of money, but have no voice as to how that money is spent.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
All times are GMT -5. The time now is 1:34 AM.