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Old 09-01-2008, 07:50 PM
 
3,034 posts, read 9,103,889 times
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home value 400k, insurance premium 4k per year.






I WAS complaining because my homeowners insurance went from $400/year to $600/year, full coverage. I'm not complaining anymore......

maybe, you should shop for a new ins. co.


recently, a couple of months ago, I called Geico....that was a joke. They quoted me $1,600 for HI and couldn't understand why I was laughing at them.
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Old 09-01-2008, 11:59 PM
 
Location: USA
526 posts, read 1,740,846 times
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Yeah, I live in CA so everything is astronimically high The 1% example on 400k house was just an example... I currently pay 2500 but my coverage is only on half the value of my home cause I haven't updated it yet. So it would be higher.

I was looking at homes for about 400-600k in Bedford and the property tax was between 7-9k per year. If I were to build I have no idea what the cost would be or where to build in NH that is nice, low crime, low property tax but close to a major city like manchester.

But if I built I would want around 1.5-3 acres of land minimum and I can make do with about 1600 square feet and about a 400 square foot basement. I would want stone siding, leaded glass windows, and a slate roof. Could I get that for 3-400k?? My house in CA is worth about 800k but i don't want to sink that much into my next home. I need the revenue to pay for the new property tax

NH only has one tax and that is the property tax but I noticed that it really favors the affluent. Properties that are 12 million dollars pay 60k property tax which comes out to 0.5% the value of the home. Then if you buy a 400k house in Derry or somthing you pay 10k property tax which is 2.5% the value of the property. I understand every town has its own tax rules but I have noticed this about properties that exceed 1 million dollars actually have a lower tax %. Some may argue that if you are investing more $$$ into the home so that is why it is a lower %. Even a flat tax when it comes to property will favor the wealthy which it currently is not. Usually state and federal income tax has a sliding scale up the more money you make in terms of taxes but the property tax system here is reversed upside down with a sliding scale down the more money you make/more money you invest.
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Old 09-02-2008, 12:44 AM
 
6,522 posts, read 6,666,872 times
Reputation: 8645
Quote:
Originally Posted by jja100 View Post
Yeah, I live in CA so everything is astronimically high The 1% example on 400k house was just an example... I currently pay 2500 but my coverage is only on half the value of my home cause I haven't updated it yet. So it would be higher.

I was looking at homes for about 400-600k in Bedford and the property tax was between 7-9k per year. If I were to build I have no idea what the cost would be or where to build in NH that is nice, low crime, low property tax but close to a major city like manchester.

But if I built I would want around 1.5-3 acres of land minimum and I can make do with about 1600 square feet and about a 400 square foot basement. I would want stone siding, leaded glass windows, and a slate roof. Could I get that for 3-400k?? My house in CA is worth about 800k but i don't want to sink that much into my next home. I need the revenue to pay for the new property tax

NH only has one tax and that is the property tax but I noticed that it really favors the affluent. Properties that are 12 million dollars pay 60k property tax which comes out to 0.5% the value of the home. Then if you buy a 400k house in Derry or somthing you pay 10k property tax which is 2.5% the value of the property. I understand every town has its own tax rules but I have noticed this about properties that exceed 1 million dollars actually have a lower tax %. Some may argue that if you are investing more $$$ into the home so that is why it is a lower %. Even a flat tax when it comes to property will favor the wealthy which it currently is not. Usually state and federal income tax has a sliding scale up the more money you make in terms of taxes but the property tax system here is reversed upside down with a sliding scale down the more money you make/more money you invest.
You could get new constrcution: about an 1800sf house with 2 baths near Concord NH with a 2 car garage and a basement for well under three hundred thousand dollars. Your property tax would be under 5,000 dollars. I think you might like the Concord area more than Manchester. Both Concord & Manchester are right on Route 93 which runs north to south right into Boston. If you really look around you can get water & sewer & trash pick-up & snow plowing all in you tax bill in a city like Concord, or even up in Laconia in the Lakes Region which is just a 40 minute drive north of Concord.

You really don't need to spend as much money as you think if you are careful. I've even seen some nice ranch style new construction under two hundred thousand dollars that would give you a lot of what you are looking for. Go to the NH real estate sites and check them out.
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Old 09-02-2008, 12:56 AM
 
Location: USA
526 posts, read 1,740,846 times
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Thx Brave Stranger for the post. I am looking at Concord real estate now. I did not know that Concord had all those services within the property tax bill cause the website that I have you have to pluck in the city one by one to find out.
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Old 09-02-2008, 01:02 AM
 
6,522 posts, read 6,666,872 times
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Quote:
Originally Posted by jja100 View Post
Thx Brave Stranger for the post. I am looking at Concord real estate now. I did not know that Concord had all those services within the property tax bill cause the website that I have you have to pluck in the city one by one to find out.
Go to www.nneren.com that will give you real estate all over NH
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Old 09-02-2008, 01:06 AM
 
Location: USA
526 posts, read 1,740,846 times
Reputation: 319
Nice... just plucked some reputation on ya for that one.
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Old 09-02-2008, 01:18 AM
 
6,522 posts, read 6,666,872 times
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Originally Posted by jja100 View Post
Nice... just plucked some reputation on ya for that one.
Thanks Now if you go to Concord & look in the price range of about $240,000 & up you will see a new sub-division called Amy Way. These new homes have all city services with a country setting just outside of Concord. That means you get a new home with all your trash pick-up, plowing, & water & sewer in your property tax bill.
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Old 09-02-2008, 01:25 AM
 
Location: USA
526 posts, read 1,740,846 times
Reputation: 319
Found it!! I assume when they say public for water and sewer they mean that it is included in the property taxes.
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Old 09-02-2008, 01:29 AM
 
Location: Southern New Hampshire
4,643 posts, read 13,895,244 times
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Brave Stranger, do I know you? I shot the Visual Tour for the Franklin III model home at Sandwood Crossing (Amy Way)
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Old 09-02-2008, 01:31 AM
 
6,522 posts, read 6,666,872 times
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Originally Posted by Valerie C View Post
Brave Stranger, do I know you? I shot the Visual Tour for the Franklin III model home at Sandwood Crossing (Amy Way)
Lol no, I'm just trying to help out jja100
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