Did some math on sales tax savings

[NJBest]

Originally Posted by 399083453

Not true. Amazon charges state sales tax "if" it has a warehouse or business setup in that state, and the state changes a sales tax. Many states that have a sale tax and no amazon companies setup in thier state still do not collect a sales tax.

No taxation without representation still applies.

It really doesn't matter whether Amazon collects the sales/use taxes. They are still owed. It's just a matter of when you pay them.

[dnbnv-n]

I agree with other posters that it ultimately evens out in the end. Sometimes I feel with the high real estate taxes, I won't benefit from the no sales tax as I won't be able to afford to buy anything!

Where I moved from, consumable food are not taxed, unless you eat out of course. So, that is a wash.

Regarding saving on larger purchases such as cars, true, but the annual registration makes up for that too. (my tags are $45/year) Though, if you apply for an auto loan, the sales tax is figured in so you are also paying interest on the sales tax. Again, probably a wash.

Regarding no income tax, unless you are making big bucks (which maybe you do in order to afford to live here) we wouldn't be saving very much there either (just over $1200/year).

I am not a big consumer and don't shop extravagantly anyway, mostly just the necessities. Therefore I don't know that I benefit much on no sales tax.

Areas we have looked at to buy real estate have taxes over $7k per year. What really stinks is that the houses are taxed on an assessment that was done when the market was booming. The houses we've looked at are priced sometimes more than $50k below the assessment. I was told that the market value and the assessed value are not the same. This doesn't make sense to me. And of course it will take an act of Congress to appeal and re-assess said property with no guarantee.

[miu]

Originally Posted by dnbnv-n

Areas we have looked at to buy real estate have taxes over $7k per year. What really stinks is that the houses are taxed on an assessment that was done when the market was booming. The houses we've looked at are priced sometimes more than $50k below the assessment. I was told that the market value and the assessed value are not the same. This doesn't make sense to me. And of course it will take an act of Congress to appeal and re-assess said property with no guarantee.

Even if those houses got reassessed at a lower value, then count on the tax rate going up. The towns count on a certain income coming in from property taxes and in the end, the property tax bill will stay the same.

We just got a notice that our tax assessor feels our house is worth more, but this is still with us not being able to afford to replace our tired roof in the two years that we've lived here. I expect an increase in the next tax bill.

As to no NH sales tax, those who benefit most seem to be the people living in the states bordering NH. Many of my Boston friends regularly make the trip in NH to buy from BJ's and Costco in NH. And those NH businesses benefit from those out of stater sales too.
I agree with other posters that it ultimately evens out in the end. Sometimes I feel with the high real estate taxes, I won't benefit from the no sales tax as I won't be able to afford to buy anything!

Where I moved from, consumable food are not taxed, unless you eat out of course. So, that is a wash.

Regarding saving on larger purchases such as cars, true, but the annual registration makes up for that too. (my tags are $45/year) Though, if you apply for an auto loan, the sales tax is figured in so you are also paying interest on the sales tax. Again, probably a wash.

Regarding no income tax, unless you are making big bucks (which maybe you do in order to afford to live here) we wouldn't be saving very much there either (just over $1200/year).

I am not a big consumer and don't shop extravagantly anyway, mostly just the necessities. Therefore I don't know that I benefit much on no sales tax.

I can't wait until the OP finally buys a home in NH and starts posting about his NH experience. Hurry up and buy already!

[Nonesuch]

Under RSA 75:8-a, all NH towns must do at least a cursory revaluation at least once every 5 years.

I have very few complaints about property tax and assessments. My assessment (and total property tax) went down the year after I bought, and in general residents of my town are conservative in voting for budget items that would increase property taxes.

[lady fern]

Originally Posted by Nonesuch

Most towns don't have much local retail, wouldn't directly benefit from a sales tax. Instead counties and the state would collect regional sales tax revenues, absorb a chunk, and maybe return some portion of revenue to towns. This approach grows state power, takes control over taxation and spending away from the town and puts it in the hands of the state. Not where I want to see NH go.


Except that it never works out that way. Maybe for a year or two after passing the law, but slowly property taxes creep back up. Just take a look at Vermont, which passed their first sales tax in 1969.

Since then, VT has increased the sales tax to 6%, and raised the property tax several times and now their property tax rate is barely lower than New Hampshire's. Add in their income tax (up to 8.95%), and Vermont is consistently in the top ten states for total tax burden.

Vermont's system has resulted in a drastic shift of revenue and power from local towns to the state, which is the last thing we need in New Hampshire. NH does not need to tax like VT taxes.


I moved here in part because I like the idea of keeping the majority of political power and taxation local, of having a state government with minimal power, minimal budget, and minimal number of voters per state representative.

The saying "all politics is local" is actually true in New Hampshire.

Landlords consider their property tax when setting rent, so how are renters any better off than condo owners?

Nonesuch, I couldn't rep you...guess I like your posts too much! You make some good points. Part of the draw to NH for me is the local control. I get annoyed with people complaining about their property taxes but then when asked about their town meetings they say they have never gone. Get involved. This is one of the few states where the average Joe has some input on their taxes and local laws.