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Originally Posted by jrc
NH's tax structure is not very friendly to people with wealth. It is more friendly to people with income. It's actually a very progressive model.
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A big down side of this model is that retired people with assets are better off picking a state without high property taxes and without taxes on interest and dividends.
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jrc,
You make a lot of very good points. But to me the biggest downside is the the same people who benefit from your points can't afford to stay in NH for the next generation. They can't afford it when they are retired, nor can their children or grandchildren. So the properties turn over and those that move in have different values than those who could have stayed.
Someone with a middle-class income who has worked hard to buy and build a homested, can easily find that 5 years after they retire on a fixed income, they are forced to sell. On paper, and therefore on tax bill, their home is now worth nice money. But what if they never wanted to move? Then it's just money on paper and taxes.
Wouldn't it be just as good if the taxes were paid by those who still have the income to afford it?