NH v. MA - Taxes (Boston: sales, mortgage, house)

[WinterWonder]

Struggling with the tax scenarios. I posted this as a reply to someone in the Boston forum as well...

We are relocating up to the Southern NH / Northern MA area, from NJ. At first glance, NH looks better - no sales tax or state income tax. But property taxes - most homes we are looking at are between 5-8K per year. And while this is alot less than NJ's property taxes, when looking at northern MA / suburbs of Boston, we are seeing same size homes for 3-4K per year, literally half the taxes of MA. So what the house costs more? If you have a decent salary, you can pay the mortgage down and be done with it. But property taxes? You are stuck with them - FOREVER. And they keep going up .

So we are confused. I am a tax accountant in a busy season now. And as soon as that's done I'm going to sit down and try to do a detailed comparison of the 2 states, side by side, taking all taxes into consideration. If anyone has any input for me, let me know. Thanks!

[imagine]

The overall tax burden is LESS in NH-regardless of your income.

(look it up for youself_) NH has one of the lowest overall burdens in the USA.

MASS is pure blue, with a tax-lover like Gov Patrick in office..Dont think twice-move to NH. ..Better quality of life too.

[litlux]

Overall tax burden in NH is less, but so are state services. Being that you are a tax accountant, I think you would be happier in NH as well, you would never be on the ropes and in need of public assistance of any type, right?

I don't buy into the taxachusetts nonsense, as a senior, I appreciate that my quality of life is immensely better in Massachusetts than it would be in NH.

I like Deval Patrick, too. Some call him a tax lover, I call him a decent human being.

[CaseyB]

Originally Posted by WinterWonder

Struggling with the tax scenarios. I posted this as a reply to someone in the Boston forum as well...

We are relocating up to the Southern NH / Northern MA area, from NJ. At first glance, NH looks better - no sales tax or state income tax. But property taxes - most homes we are looking at are between 5-8K per year. And while this is alot less than NJ's property taxes, when looking at northern MA / suburbs of Boston, we are seeing same size homes for 3-4K per year, literally half the taxes of MA. So what the house costs more? If you have a decent salary, you can pay the mortgage down and be done with it. But property taxes? You are stuck with them - FOREVER. And they keep going up .

So we are confused. I am a tax accountant in a busy season now. And as soon as that's done I'm going to sit down and try to do a detailed comparison of the 2 states, side by side, taking all taxes into consideration. If anyone has any input for me, let me know. Thanks!

You didn't mention in your post which state you would be working in. If you'll be employed in Mass., you have to figure in the income tax of 5.3%. Of course you can avoid most of the sales tax by shopping in NH.

[Valerie C]

Litlux makes a good point--NH isn't the place to be if one requires public assistance... NH just doesn't have the services that MA offers, which is NOT necessarily a bad thing. It's just another aspect of what makes one state different from another, and isn't it nice that we have CHOICES on where to live (instead of people trying to make each state a carbon copy of the other...)

[CaseyB]

Originally Posted by litlux

Overall tax burden in NH is less, but so are state services. Being that you are a tax accountant, I think you would be happier in NH as well, you would never be on the ropes and in need of public assistance of any type, right?

I don't buy into the taxachusetts nonsense, as a senior, I appreciate that my quality of life is immensely better in Massachusetts than it would be in NH.

I like Duval Patrick, too. Some call him a tax lover, I call him a decent human being.

You may like him, but I guess he wouldn't like you considering you called him DUVAL. It's Deval, btw.

[litlux]

Originally Posted by CaseyB

You didn't mention in your post which state you would be working in. If you'll be employed in Mass., you have to figure in the income tax of 5.3%. Of course you can avoid most of the sales tax by shopping in NH.

It should be mentioned that the sales tax does not apply to food or basic clothing. And my property taxes amount to less than $500 a year.