Retired & Moving (Manchester, Concord, Berlin: house, school, college)

[sarasotadreaming]

FYI - Property taxes in NH are very high and NH also taxes interest income. That is a big negative for retired persons. Services are limited and the winters are long, cold and dark. If you are healthy and can handle all the work that goes with snow and ice then you will be fine. Just my opinion.

[MtDreamer]

Yes property taxes are high in a lot of areas but no State tax and no sales tax. I guess it is just a trade-off of one for the other either way they get you. Here in Kentucky they even have a property tax on your vehicle that you pay every year when you renew your registration. The newer the car the higher the property tax. Luckily my truck is old. It's crazy.

[sarasotadreaming]

In NH - every year - on your birthday - you will pay a registration fee to the state and to the town for renewing your vehicle registration.

[MtDreamer]

Is it a set fee for all vehicles or like here in Kentucky where you pay the state fee and the escalating property tax on the vehicle based on vehicle worth?

[sarasotadreaming]

I think one fee is based on weight and the other fee is based on value? As your vehcile gets older the amount you pay on value will go down. The other remains the same.

[skinut74]

mt- i believe the fees are based on the value of your car each year(decreasing as the car gets older) as for taxes, we moved from long island and overall i think that our tax bill is a lot less.

[MtDreamer]

That's encouraging skinut74. I guess it really doesn't matter where you live. If there is no State tax the property tax is higher. Here if you have a new car the property tax every year can be in the hundreds of dollars. It would be nice if they lessened the tax burden on middle America.

[MtnFlyer]

I've heard several people talk about property taxes, but I've yet to talk to anyone who is paying more per thousand than we paid at any of the properties we've owned in Texas. It is true that NH taxes interest and dividend income at a rate of 5%, but there are ways to legally structure your estate plan for that. You just want to make sure it's set up correctly. The lack of sales tax on the other hand should be a big plus for retirees.

I suppose most of it comes down to where you want to live. Nevada has some wonderful tax laws for businesses and individuals, but I wouldn't move there if they offered me no taxes and $10K/yr as a bonus.

[MtDreamer]

I lived in Texas too and it was nice not having a State tax but I was soooo glad to get out of there. Way to hot, terrible crime and many other minuses.

[MtnFlyer]

Originally Posted by MtDreamer

I was soooo glad to get out of there. Way to hot, terrible crime and many other minuses.

Yep you were in Texas. Actually they'll probably rename it to Tejas in the next Legislature.

"If I owned Hell and Texas, I'd live in Hell and rent out Texas.” -U.S. General Philip Henry Sheridan in 1866