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I wasn't aware of this, but apparently there are several states that, seeing how economically strong the states without income taxes are, are trying to eliminate their own. This article is about Iowa:
New Hampshire has been a leader on this, standing up to the constant pressure to implement an income tax. Resisting the siren song of a state income tax is something everyone in New Hampshire can be proud of.
But I think NH wins because they tend to be a simpler state, small towns with a handful of cops not loaded with hundreds of city workers/firefighters/etc that all need healthcare/pensions which drives up the cost of doing business for that town.
Big city amenities cost big dollars!
The states considering "income tax free" are simply trying to be more competitive with surrounding states so the big earners don't pack up and move (taking their tax money with them). Tons of articles on NY/NJ folks fleeing to Florida for sunshine and no more income taxes.
meh, with property taxes ranked third highest in the country behind NJ and Illinois life in NH isn't necessarily a bargain depending on your life style and retirement income.
But I think NH wins because they tend to be a simpler state, small towns with a handful of cops not loaded with hundreds of city workers/firefighters/etc that all need healthcare/pensions which drives up the cost of doing business for that town.
Big city amenities cost big dollars!
The states considering "income tax free" are simply trying to be more competitive with surrounding states so the big earners don't pack up and move (taking their tax money with them). Tons of articles on NY/NJ folks fleeing to Florida for sunshine and no more income taxes.
Well what do you think is happening here? We have big city people moving up here now using equity from their homes in NJ/CA/NY to buy up all the real estate in sight, and they're going to demand those big city amenities. We're all going to pay more in taxes for full-time police coverage, sidewalks, streetlights, and taj mahal schools.
meh, with property taxes ranked third highest in the country behind NJ and Illinois life in NH isn't necessarily a bargain depending on your life style and retirement income.
The king is going to get his cut somehow.
When you add up everything and are somewhat careful about where you live and how you/neighbors vote, you can typically come out ahead with NH's tax structure.
Aside from real estate taxes I believe the only other taxes payable by consumers in NH are on take out foods and hotel rooms. Things like beer, wine, spirits and tobacco products are taxed at the wholesale level. Prices have to be better than surrounding states because there's lots of out of state plates at the state liquor stores and just about any retail shop near the border.
Yeah, RE taxes are high, but it depends on where you live and what you live in.
Aside from real estate taxes I believe the only other taxes payable by consumers in NH are on take out foods and hotel rooms. Things like beer, wine, spirits and tobacco products are taxed at the wholesale level. Prices have to be better than surrounding states because there's lots of out of state plates at the state liquor stores and just about any retail shop near the border.
Yeah, RE taxes are high, but it depends on where you live and what you live in.
The meals and rooms tax is on takeout foods, sit-down restaurant meals, prepared foods (like a sandwich from the deli section of the grocery store, salad bar. It’s on bakery goods, etc..) It’s also on car rentals (not likely used heavily by in-state residents.) Also, we have many taxes masquerading as “fees.”
Having lived in two bordering states, I don’t think the prices here are better, but they are mostly tax-free. In a lot of areas I think they are actually higher. Contrary to what many believe, a number of things in other states, such as clothing and most grocery items, are also sales tax-free. But people come here for other things and big purchases. Plus, we have malls and big shopping plazas near many of our border areas, and those end up being the closest big shopping area for many who live close to the border, so they would shop their regardless of price or tax status. I do a lot of shopping in Rindge, which does not have a mall, but it has a Hannaford and a Market Basket, a Walmart, and a liquor store, along with Tractor Supply, some fast food, and some other stores in a strip mall. It’s still always half MA plates in the parking lots, but it’s about 6 miles from the border and the closest shopping area for many people. In Keene I see a lot of MA and VT plates at Home Depot and Target.
It is true that you can control your property tax amount to some extent, although a lot of times when people say that they don’t really consider the fact that many people cannot just live anywhere. They need to live within a reasonable commute to their job, and then need to balance that with a reasonable commute to their spouse’s job, reasonable distance to activities for their kids. They need a house of a certain size for their family, or there aren’t small houses available.
What I have always found to be true is that if you have an income over a certain level, you make out better in NH than in surrounding states with income taxes, even if you live in a higher-tax town. If people keep demanding and voting in more and more amenities, that advantage will get smaller and smaller and disappear for people at the lower-end of “high income,” because in most places it’s not just property taxes paying for all of that, but residential property taxes due to lack of commercial property, commercial property falling into TIF districts, etc.. That’s in contrast to many areas in Massachusetts that have robust commercial areas.
It would be nice if there were more private fundraising efforts for certain amenities, but it seems like that is only acceptable for certain things, and only works in fairly affluent towns. In my town we have a beautifully-renovated library, just completed, $8-9 million, and about 2/3 of it was paid for by funds from the existing endowment and private donations. The same sort of thing happens with playgrounds and pools and things, but not things like safety complexes. (Yes, I fully understand police and fire are more necessary than libraries and playgrounds, but they don’t always need new expensive state-of-the-art complexes.)
Last edited by cowbell76; 11-16-2021 at 07:59 AM..
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