Any people Move or Retire to Maine Instead of NH because of NH Property Taxes

[maine4.us]

Amen SLY FOX. That is enough to say!

[CT2MEwoodnutt]

Originally Posted by beltrams

I find property taxes much more scary than income taxes. With income taxes you don't pay unless you have earnings so in theory you should have some money to pay taxes with, but with property taxes you can end up owing a lot even with little if any income. Years ago my parents almost lost their house because of business problems even though the house was paid for. It was the high (MA) real estate taxes forced on them by all the young families moving into town and voting for one tax override after another. High property taxes can steal the house right out from underneath you. Not so income taxes.

I love central and northern NH as well as the fairly unobtrusive government, but the undo reliance on property taxes to fund so many things that other states do at least partially with income taxes and state money kicked back to towns- those high RE taxes are scary. Yes indeed that has kept relatively lower income but frugal me out of NH.

I paid $1100 something this past year on 55 acres, an 1100 sq foot home and a large garage/barn in northern Maine (with a homestead exemption) the best apples to apples comparison in NH would probably be with similar properties in the upper Connecticut River area, Strafford, Columbia, etc. and I bet the RE taxes would be at least doubled if not tripled or more.

It seems to me the people most likely to move to NH these days would be high income people from areas south of NH because they're the only ones that can afford property in NH.

************************************************** ************************

Hello Beltrams, I was reading your Post, from a discussion on The C.O.L. in NH. vrs ME. from 2012, and came upon your Post here.
You sound exactly like me, with your above statements!

My Wife & I want to move to Maine (or NH) next year (2016) as we are both retired, and basically living on Social Security $'s. She receives a small monthly pension.
I still work, part time, and do odd jobs, cut trees/produce firewood, which I also sell on the side.
I enjoy Logging, getting out in the woods! (It keeps me in shape & sane (?).
She is 67 and I am 63, and are looking to get O-U-T of Connecticut, and out into a much more Rural. quiet, wild area.
Where in Northern Maine do you live? (What town)? Could you give me other town names, where we might find something similar to what you have...."55 acres, 1100 sq ft house B-A-R-N " (!!!)
We are looking for quiet, serenity, no neighbors in eyesight, less traffic, nature, MTS, lakes (?).

Any town names come into mind?

I'm especially interested in the Maine UT's!
* What exactly is a "Homestead Exemption"?

Currently we live in New Fairfield, CT, right near Candlewood Lake, Western/Central Connecticut

Thanking you in advance

CTwoodnutt

[Northern Maine Land Man]

CTwoodnutt,

Anywhere in northern Penobscot County east of I-95. Such places do exist.

[Submariner]

Originally Posted by Northern Maine Land Man

CTwoodnutt,

Anywhere in northern Penobscot County east of I-95. Such places do exist.

Are you pointing CTwoodnutt in my direction? Or in your direction?

[maineborzoi]

Originally Posted by Submariner

Are you pointing CTwoodnutt in my direction? Or in your direction?

Or in Washington County as well

[Northern Maine Land Man]

If a retiree has a relatively low income and is not faced with high income taxes, Maine is the place to be. Wealthy retirees with large dividend incomes and pensions tend to buy camps in Maine, but establish their residences in North Carolina or a state with no income taxes.

[gcberry]

If I had to do it all over again, I'd pick NH, even though I do love living in Maine, because even though the property taxes would be $1500 more expensive in NH for the equivalent of what I have now, other savings would more than make up the difference.

[Northern Maine Land Man]

You can buy a 3 bedroom ranch with 2 car garage built in 1980 for $79,900 in Maine. The same house in NH Will sell for $159,900. Why is that? More economic opportunity in NH. You can afford the brutal property tax in NH if your income is higher and you don't have a sales or income tax.

When you retire, that dynamic flips and you come to Maine with its low property tax. You already have all the toys you need and there is no sales tax on food. Just pick a low hassle town.

[znlwovuhrjw]

Originally Posted by Northern Maine Land Man

You can buy a 3 bedroom ranch with 2 car garage built in 1980 for $79,900 in Maine. The same house in NH Will sell for $159,900. Why is that? More economic opportunity in NH. You can afford the brutal property tax in NH if your income is higher and you don't have a sales or income tax.

When you retire, that dynamic flips and you come to Maine with its low property tax. You already have all the toys you need and there is no sales tax on food. Just pick a low hassle town.

There are only a handful of locations left in NH where you can still get a reasonable house price and property tax rate often with enough land to yourself (1800+ sqft house, 1960s+ age and around ~$150,000):

(My percentages below are adjusted to show % x house appraisal value for property tax estimation)

((I used the FULL MILL RATES, not JUST the property tax))

Albany 1.277%
Alton 1.385%
Bartlett 0.979%
Errol 1.229%
Freedom 1.220%
Hebron 0.818%
Moultonborough 0.886%
Wakefield 1.274%
Wolfeboro 1.301%

BOLD = cheaper than the commonly boasted about "1%" property tax in California

^ This is literally it for the entirety of New Hampshire. The houses in those locations are very few for those specifications I listed above and are the only places in NH where you are competitively matched against most of Maine. As Northern Maine Land Man said, NH is more for working and ME is much more beneficial for retirement. (And Maine has the best universities; totally not biased )