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Originally Posted by Ropetow
A friend who owns a local RE company said the uncertainty of 'tax-free' NH is a factor in the current slow market.
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Can somebody explain to me how/why NH is considered to be "tax free" when the real estate tax is the second highest in the nation, exceeded only by NJ?
We have a cottage on an island. Obviously, we can use it for at most 6 months of the year, and our 100 y.o. cotage doesn't have any modern ammenities; we don't even have one full bath! I understand that the value is the lakefront land, but by any standard, our NH taxes are outrageous, *way* more than our property taxes in swanky suburb of Boston! I actually think our NH real estate taxes are just as much, as our total tax burden in so-called "Taxachusetts." We always thought we would retire to the NH seacoast, but are rethinking that because of the tax burden.
I'm no financial wizard, so I must be missing somehing. It seems to me that the notion of NH as some sort of tax haven is a myth. Can somebody please enlighen me?