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I moved from NH in 1973 to Fla to Virginia Beach Virginia !! Been here 36 yrs. Want to move Back to home state but whats with the Taxes ?
I understand you need money with out other taxes but How do you budget in thousands of dollars above your Mortgage Payment ?
What happens in retirement years on fixed Income ?
do you get a discount in every town in NH for That or Military Discount?
I miss NH loved it but was taken to Fla with Family and then married A
Military man and stationed the Family in VA Bch its nice but too many
people now .
Please set me straight how you all can budget it !! Thanks
NH towns and school systems are supported by the property tax with very little state aid. Figure on paying about 3% of your assessment every year. Your budgeting is not a consideration.
Your income amount or source is not considered in assessing property tax.
Most towns offer a deduction from taxes owed for military veterans.
These are the reasons I would like to see all the school systems supported by a State Income tax based on all income from all sources with the bottom 90% excused from this tax.
Property taxes are high, but with no income tax or general sales tax, the total tax burden isn't as bad as a lot of states. In NY, we were paying $5k a year in property tax plus several hundred a month in income tax. I don't even know how much sales tax we paid in a year, but it was significant.
If you have a decent income, you'll probably come out ahead. NH does seem to be rough on retirees though.
What part of NY did you move from? And Where in NH are you now?
Quote:
Originally Posted by Be Free
Property taxes are high, but with no income tax or general sales tax, the total tax burden isn't as bad as a lot of states. In NY, we were paying $5k a year in property tax plus several hundred a month in income tax. I don't even know how much sales tax we paid in a year, but it was significant.
If you have a decent income, you'll probably come out ahead. NH does seem to be rough on retirees though.
Forget the property tax rates and look at the actual dollars. My rate is higher than it would be in MA, but the valuation is lower (as are the real estate prices) so the actual dollars paid is lower in NH for similar houses in similar towns. We have no income tax, no capital gains tax, no sales tax and just about everything costs less than in MA. The only people that want an income tax in NH are those that work in MA and pay that income tax; they should just move back to MA and stop trying to change NH...
OH, NH also has a tax on dividends and interest. These can be a substantial part of a retire's income.
yeah, but they don't tax the actual pension. Unlike MD where not only do we pay about as much property tax on our small house on 1/4 acre lot as we pay on our bigger house on a 1/4 lot in Greenville, but we also pay 6%sales tax, plus income tax on income & dividends & interest and they would tax our pension if we gave them the chance!
all in all, I'd rather pay NH tax, at least you can see where it's going in the town rather than around here where it's lining some bureaucrat's wife's bra (don't think I'm kidding: my county just had a huge scandal about this and he told his wife to stuff the money in her bra. what a shame his phone was tapped).
HI All
Thanks for the info!!
NOW can anyone recomend a good little town not to far up in the state ?
Yes, Meredith has pretty much everything you could ask for- along with good proximity to the rest of the state. Also, the town has quite a bit of land area. One can live right in the heart of the village, out closer to Lake Winnipesaukee on Meredith Neck Rd, or on the west side of town off route 104. Tax rates, while not the lowest in the Lakes Region, are still quite a bit less than the state average at $11-12/$1,000 assessed value. As a highly desirable location, property values have not fallen as much there as other towns in the state during the real estate bust.
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