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Have been reading this board's old postings, and, more than once, has someone brought up the fact that the Portsmouth area is pricey. Exactly what do you mean that it is expensive? Are the costs of things (toothpaste, movies, food, etc.) tourist trap pricey or what?
I did a cost of living comparison with Portsmouth vs. Austin, and Sperling's Cost of Living Comparison had Austin at a tad higher than Portsmouth!
Little confused as to what all of you mean by Portsmouth is expensive. Please explain for those of us who aren't there.
Have been reading this board's old postings, and, more than once, has someone brought up the fact that the Portsmouth area is pricey. Exactly what do you mean that it is expensive? Are the costs of things (toothpaste, movies, food, etc.) tourist trap pricey or what?
I did a cost of living comparison with Portsmouth vs. Austin, and Sperling's Cost of Living Comparison had Austin at a tad higher than Portsmouth!
Little confused as to what all of you mean by Portsmouth is expensive. Please explain for those of us who aren't there.
The cost of housing in Portsmouth is pretty high compared to most of the country. Property taxes are about $17 per 1,000, which is fairly high, but there is no income or sales tax. Therefore the overall tax burden in NH is one of the lowest. Gasoline is cheaper in NH than CT or ME. And thanks to chain stores like Best Buy, Walmart, Hannaford... the price of goods it pretty cheap and competitive.
I think what people mean, Tootsie, is that Portsmouth has become sort of a target for people who want to be a step above some of the more blue-collar towns. In years gone by, Portsmouth (like Portland ME, Newburyport MA, Gloucester, MA) was a working port for fisherman & shipping. Now it's become more of a shopping and restaurant destination town, so housing is higher, restaurants and shopping is a tad more upscale, even gym memberships might be a little more than say, Dover or Somersworth. I don't think that would translate to more expensive toothpaste, etc unless you're in a more upscale store to begin with...
Got it. In Houston/Bellaire my property tax rate was something like $19 per $1K; however, where I am now in Illinois (an area of about 400,000) the property tax rates are even higher at $23.32! Shocking since this area is so....well, podunk to anyone who has traveled much (however, the people are great!).
Yes, that is what I figured it would be. Looks like TootsieWootsie will be doing the primary bulk of her shopping outside of Portsmouth...ha!
By the way, do you know the tax rate for eating in Portsmouth RESTAURANTS? What is the food tax?
Well the rate is a little more complicated than that. If its $20 rate on a house worth $40,000 thats only $800 yr on taxes. But if its like New Castle and your rate is $11 but your house is worth $1.5 million (common), thats over $16,000 per year.
So basically you gotta pick a house you can afford, then see what the rate is. Might be good, might not. Depends on the town.
NH Meals Tax is the same statewide: 8%
This is to meals at a restaurant, take-out, even salads that you would buy from the grocery store. Basically anything that you buy prepared, the meals tax is applied (first thing that comes to mind is the hot rotisserie chickens that you can pick up at all the grocery stores--yup, it's a meal!
Regarding property tax rates, things have changed alot over the last couple of years. NH is going for 100% valuations, so while the town tax RATES have dropped, the assessments are WAY UP (figured at 2005 property values, which is SO not right!!) and not scheduled to be re-assessed for 5-10 years.
Good explanation of tax rates & how it relates to value & tax bill 3453
Statistically, the cost of living in N.H. is 20% above the national average. Sorry, I can no longer cite the source of that figure, but it was a governmentally compiled figure. Chiefly it is owing to urban yuppies that have migrated up the eastern seaboard to N.H. with Grandpa's hard earned inheritance in their pockets, to raise their children in what appears to be shangri-la, compared to the cesspool they call home.
Driving prices up are they that will pay any amount of money for their creature comforts, without the dicretion of somebody that actually worked for their money.
Just started to look for a place to retire. Hubby and I want to stay on the EastCoast (we're on Long Island now-too expensive). We also would like to stay near the coast, but also a place thats near colleges/univ., stores, mass transportation and good health care. Most of what we are looking for seems to be in Portsmouth, NH anybody have any better suggestions? Would love to hear all kinds of feedback.
They have a Market Basket over there I think(some of the cheapest grocery store prices anywhere)and in this housing market it should be affordable than it has been.But any liberal minded area is going to make a bit more of a challenge to live frugally.A funny paradox dont you think?
Statistically, the cost of living in N.H. is 20% above the national average. Sorry, I can no longer cite the source of that figure, but it was a governmentally compiled figure.
Found this reference for you.
About 17% higher Q1 2010. But that's also the lowest in New England AND - those stats are state averages. The cost of living in New York city is going to double or more the cost of living in rural north of the state.
I don't have a degree in economics, but I can tell you that there is a larger swing in wages between the lowest cost of living states and the highest. I.e. you will be relatively wealthier in a NE state than a mid-west state for the same skill.
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cris
