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Old 07-14-2006, 07:38 PM   #7
Waterbaby
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Default Almost correct!

Quote:
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.
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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