For the full wording of the Article, see this link: Link to the Warrant as Amended following Deliberative Session
What it Means: The petitioners are proposing that a fee of $5.00 per $1,000 of the sale price of the home, paid by both buyer and seller at closing. This would be in addition to the New Hampshire Transaction Tax. No one was present at Deliberative Session to explain this new funding mechanism. It is unclear if the petitioners are suggesting that this would take the place of annual property taxes, or be an addition to those taxes. If it would take the place of annual taxation, there is no discussion in the Article as how the Town’s budget would be aligned with the amount or timing of Real Estate Transaction fees.
Those in favor say: No one spoke in favor of this Article at Deliberative Session.
Those Opposed Say: According to legal review obtained by the Town, this Article is unenforceable, because all authority to collect real estate taxes comes from the NH Legislature and cannot be amended by the Town.
Fiscal impact: There is no direct tax impact, although future taxation might decrease if there were money from this effort to help offset town spending requirements.