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I would add a couple of asterisks to sb's info. Many houses here have a well and septic system. They cost very little to run once in place, but are expensive to fix if/when they fail. Between that, an older stock of homes, and few municipal services in a lot of smaller towns, you should budget a good-sized emergency fund for repairs, particularly if you aren't handy with a chainsaw, tractor, etc.
Agree with sb's comments about heating costs. I would ask the realtor to get you copies of the bills for 2-3 years of heating and electricity for any older house that you're seriously considering, so you know what you're in for.
I would add a couple of asterisks to sb's info. Many houses here have a well and septic system. They cost very little to run once in place, but are expensive to fix if/when they fail. Between that, an older stock of homes, and few municipal services in a lot of smaller towns, you should budget a good-sized emergency fund for repairs, particularly if you aren't handy with a chainsaw, tractor, etc.
Agree with sb's comments about heating costs. I would ask the realtor to get you copies of the bills for 2-3 years of heating and electricity for any older house that you're seriously considering, so you know what you're in for.
^ Additionally, probably would want to plan on purchasing/maintaining a generator if on a well or septic system.
The way I understand it is NH doesnt tax your pension, social security or withdrawls from retirement accounts,but will partially tax dividends you receive.
^ Additionally, probably would want to plan on purchasing/maintaining a generator if on a well or septic system.
This is the plan. Coming from South Florida we learned to live with a quality generator during hurricane season. Having one in NH/Maine is very high on our list when purchasing/building a home.
Quote:
Originally Posted by Scorpio1969
The way I understand it is NH doesnt tax your pension, social security or withdrawls from retirement accounts,but will partially tax dividends you receive.
I do not think they do either. Which is a huge benefit over Maine.
Unfortunatley NH does tax interest and dividend income, unlike the other "no income tax" states like WA, FL, TX, WY, SD...who do NOT tax that income. It's a bummer for me as I get a lot of my income from interest and dividends.
Unfortunatley NH does tax interest and dividend income, unlike the other "no income tax" states like WA, FL, TX, WY, SD...who do NOT tax that income. It's a bummer for me as I get a lot of my income from interest and dividends.
Almost none of my retirement is dividend based. Private pension (which is a set amount) and DROP account (which is only taxed as income if I draw upon it).
Retiring. IF I have to work, it will be to offset health insurance costs. As far as rural/urban, we've been to NH many times (have a time share in Loon Mountain) and have looked all over. We really like Hanover (because of Dartmouth and the hospital), New Boston area, and around Concord. I also really like Littleton, but that might be to far removed for us.
If taxes are a primary concern then this little town has virtually no taxes.
Both Dartmouth-Hitchcock and Plymouth Hospital in driving distance.
Actually, they still have taxes and have raised them since the wind farm came to town. In 2012m the rate was $11.27 and in 2017 it was $15.64 - still a reasonable amount for a NH town. Per the article you linked, they are using the windfall to create reserves and pave the town's roads. If they are fiscally astute, they will not go overboard with eliminating property taxes as their contract with the wind farm is for only 15 years and who knows what happens after that.
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