07-14-2006, 07:38 PM
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#6
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Senior Member
Join Date: Apr 2004
Location: Kensington, NH and Paugus Bay Marina
Posts: 656
Thanks: 323
Thanked 17 Times in 13 Posts
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Almost correct!
Quote:
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Originally Posted by Yankee
The meals, road, and gas taxes go to the state. Real estate taxes go to the town that the property resides in.
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If you look at your tax bill, the amount of property tax is broken down such that a (usually the smallest) portion goes to the town/city; a portion goes to the school system; a portion goes to the county; and the last (but not least) portion goes to, yup, you guessed it!: to the State for the State education tax. Residents get to vote (and I use that term loosely!) on two portions of that tax rate: the town/city budget, and the local school budget. County budget? Nope! State education tax? Nope again!
Also, in addition to the Meals and Rentals Tax, the Road Tax (paid for, I believe, as an .18 surcharge per gallon of gasoline), New Hampshire has a Business Profits Tax and another tax not a lot of people are aware of -- a tax on interest/investment income over a certain amount per year. (I think it was $2,000 last I recall.......)
So. Tax Free? I don't think so!
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