NH a tax freindly place to live

[Tired of Waiting]

Looks like NH is a very tax friendly place to live.

http://money.cnn.com/2004/04/05/pf/t...2004/index.htm

The state is second only to Alaska. But I wonder if they take into account the property taxes? Just a thought.

ToW

[jrc]

The way I read it, NH is in the five best in total taxes. If you read further down. NH is among the five worst in property taxes.

With high property taxes plus taxes on interest and dividends, yet no taxes on income and sales. It seems like NH is focusing on taxing people who already have their wealth rather than those still earning it.

[Just Wonderin]

Here's a quote, right out of the article on tax-friendly places...yes, it does take into consideration property tax. We only think our taxes are high because we don't have to deal with all of the other taxes such as sales tax, and to a lesser degree, income tax. Talk to some of the people in some of those least friendly places, ie. New York, Washington DC, and Maine and I'll bet that their property taxes are making them miserable.

Everyone hates to pay taxes. We should be happy that New Hampshire ranks so well when it comes to tax-friendly places.

"Using data from the Bureau of Economic Analysis and the National Conference of State Legislatures, the Tax Foundation measures as a percentage of per capita income residents' income, property, sales and other personal taxes levied at the state and local levels. It also factors in the portion of business taxes passed along to state residents through higher prices, lower wages or lower profits."

Webmaster, I love the smilies!!!

[Sunbeam lodge]

JRC, I agree. Try dividing your property taxes by your fixed pension and social security. Especially if you bought a retirement home on the lake 10 years ago.

[upthesaukee]

When we lived just north of Albany NY, we had 11,500+ sq ft lot, house & land valued at $125K and paid just under $4K in school & property taxes. On top of that, there was 7.5% sales tax on everything except food and clothes. that means that the $30K SUV just went to $32.5K. I shudder to think what folks around Lake George pay! Here we have 1.5 acres off the lake, and we are just over half that tax rate.
No happy solution here, but I am glad I don't have to pay what we payed in NY.

[Orion]

There are other considerations that significantly impact the cost of living. Car insurance is one in MA that has been messed up by government meddling. I believe we must be near the top there with insurance for my daughter's car (a '93, driver 21) running almost $1,700/yr, thanks to Gov't regulation . Multiply that by several vehicles in the family and property taxes take a back seat ($2800/yr - house value at $400k).

[upthesaukee]

Agreed. There are so many factors to taxes and cost of living in any one state. Car ins isn't bad in NH, but we do have our taxes on them also. No simple answer as to what is really tax friendly.