No Income Tax in NH? (Keene, Durham: sales, real estate, vehicle registration)

[kemcnyc]

This sounds too good to be true! No Income Tax? No Sales Tax? What's the catch? I live in NYC and this area has high income tax, sales tax and property tax. I heard the property tax is high in NH but what does that mean? The property tax around here is 10-12k a year. That is high to me. New Hampshire is such a beautiful state.

[skinut74]

you will find that yearly auto registrations will cut into the tax savings a bit(but not much). salaries are less than in ny. you will likely end up with other expenses that you don't have in nyc but i think you still come out way ahead in quality of life and the natural beauty. if you can live in an area that does not have a pizza place that rivals ny - go for it

[WannaComeHome]

There is sales tax on prepared food (restaurants, salad bars/pre-cooked deli stuff....), there is income tax on dividends and a hefty income tax for businesses - but not for the "employed by someone else".

and there are assorted fees (they just aren't called tax cause we don't like that word!): vehicle registration to both your town and the state, yearly vehicle inspections, property tax -many consider it very high, but it all depends on where you're comparing it to- a couple of toll roads... and NH owns the monopoly on hard liquor sales. They find ways of getting the money but they are still overall lower than the majority of states, and a much nicer place to live.

[maxxoccupancy]

We have a Meals and Rooms Tax at 9%, tolls (pretty reasonable, though they keep going up), Business Profits Tax (basically an 8.5% income tax on business owners), Interest and Dividends Tax (5%), modest gas tax, state and local property taxes ($11-20 per thousand, usually, though Durham and Keene are around $30), relatively low excise taxes on alcohol (30 cents/gallon) and tobacco ($2/pack, IIRC), inventory taxes, real estate transfer taxes, etc.

Overall, residents experience the fourth lowest "felt taxes," meaning that individuals pay less per person for state and local government than most.

BTW, the liquor stores are still losing money, so taxpayers are actually having to subsidize a wasteful state run monopoly that is run privately in most other states. This is one thing that most folks around here believe should be privatized. Private companies pay revenue into the treasury, drawing nothing out in a traditional free market system.

[GregW]

I disagree with Max. I think liquor prices should be increased to cover costs and extract more money from the states with private and very expensive whisky prices. Except for the fact that cigarette sales keep most southern tier convenience stores in business, I would recommend the tobacco products should be sold only in the state stores.

[seamusnh]

It would be interesting to see what you get for your $10 - 12k in real estate taxes in NYC. In NH, that could be a 3,000 sq ft home with a couple of acres of land in a high end town.

Ex: NNEREN

[BF66389]

As was pointed out, regardless of the higher property taxes NH has the 4th lowest tax burden in the country. Likewise non-tax items like car insurance are also FAR more reasonably priced than in NYC...

[GraniteStater]

Originally Posted by seamusnh

It would be interesting to see what you get for your $10 - 12k in real estate taxes in NYC. In NH, that could be a 3,000 sq ft home with a couple of acres of land in a high end town.

Ex: NNEREN

You can get a 3000sqft house in many areas of the Lakes Region for 5K in property taxes.

[Brave Stranger]

Originally Posted by GraniteStater

You can get a 3000sqft house in many areas of the Lakes Region for 5K in property taxes.

I agree. you can get a 3000 qft home in Meredith for under 4k a year. So much for how high property taxes make NH unattractive

[seamusnh]

Originally Posted by Brave Stranger

I agree. you can get a 3000 qft home in Meredith for under 4k a year. So much for how high property taxes make NH unattractive

Agreed. It all depends on where one works and where one wants to live. When we bought our house in NH, my wife spent a day looking at houses in a town in MA that is similar to the one we were targetting in NH. She said the property tax rates were lower, but the houses cost much more and the valuations are much higher. At the end of the day, one pays much more for the house and about the same dollars in property taxes. Or, one settles for a lower end home in MA...