If Question 2 passes, it may have little effect on your taxes at all. Here are the facts.
Cap on the local education portion of property tax
Question 2 caps only part of your bill, only in years the school budget beats inflation, and does nothing about what drives school costs.
The cap applies only to the local school district portion. SWEPT, town and county taxes are not affected.
The cap takes effect only if the school budget grows faster than inflation, currently 4.1%. Over the last five years, the Hollis school budget has hovered around a 4% increase. It went higher once, due to structural maintenance and a collective bargaining agreement.
Typical Hollis school budget growth sits just under the cap line
difference, if any, in your property tax if Question 2 passes.
Current inflation rate. The cap does nothing until the school budget grows faster than this.
years in the last five that the Hollis school budget rose noticeably above its usual ~4%.
The town can still periodically reassess property, which would likely raise your property tax.
The town can still pass a warrant for projects like expanding Hollis Elementary School.
Health insurance, special education and state funding that hasn't kept up all stay the same.
Taxes would still go up, sometimes just more slowly. The gap would likely be made up with cuts to schools.
Health insurance, special education and state funding that hasn't kept up keep pushing school costs up. A cap on the budget leaves those pressures in place, so the difference comes out of what schools can offer.
50 states, ranked by state funding of education. New Hampshire is last.
The State Supreme Court's Claremont Decision concluded New Hampshire does not pay its fair share of school funding. The Republican/Free Staters have challenged it.
They are targeting public education and would like to see it privatized. Recent bills would create a committee to study making all public schools into charter schools.
Rather than paying their fair share, they believe they alone should determine how much the state pays. It could be zero.
They have gotten rid of sources of income that could help pay for education, like the interest & dividends tax, and keep lowering business taxes.
Money intended for public schools is going to wealthy residents to pay for private education.
Their plan: NH towns like Hollis become increasingly responsible for paying for our schools, on top of all our town services.
If anything, your taxes will keep going up as the state forces us to pay more and more. Question 2 is just a scam the Republican/Free Staters passed to make you think they are lowering your taxes, while, in fact, they are doing nothing to help.