NH Taxes

[Garcia]

Originally Posted by fatlazyless

What taxes the hell out of its citizenry are cities and town with low home values and their accompanying high property tax rate/$1000. The individual town rates vary a lot from about $10/1000 up to $40/1000 .... plus with a high rate, the homes sell for a lot less.

And, there's no money going from the state back to the towns. So, what happens in this here town is totally paid by this here town .... so it is not so much a state as a collection of individual towns.

Most likely, it will always be this way. If it was going to change, it would have already happened.

Best thing to do is to be a NH resident and rent rather than own. No state taxes, no sales tax, and no property tax.

Back to the original post - is the boat in the water yet? Can we expect to see it out cruising on Memorial Day weekend?

[fatlazyless]

Originally Posted by Garcia

Best thing to do is to be a NH resident and rent rather than own. No state taxes, no sales tax, and no property tax.

That can be very true. I know people who do this in Campton and they are pretty well off. In addition, the owner pays for any property or house equipment repairs like a boiler or plumber, and you can always move on if a better situation comes along.

Basically, the Massachusetts property owner of the NH single home rental is subsidizing the renter, and it doesn't make too much sense why the owner hangs on to the property. The local rental market just doesn't support all the expenses of owning. Go figure?

[MAXUM]

Originally Posted by fatlazyless

That can be very true. I know people who do this in Campton and they are pretty well off. In addition, the owner pays for any property or house equipment repairs like a boiler or plumber, and you can always move on if a better situation comes along.

Basically, the Massachusetts property owner of the NH single home rental is subsidizing the renter, and it doesn't make too much sense why the owner hangs on to the property. The local rental market just doesn't support all the expenses of owning. Go figure?

Even if the renter pays only what equates to half of the mortgage that's still getting the house at a steep discount. Renter gets nothing, the owner get's all the equity. Still not a bad deal. Plus there are tax write offs and depreciation the owner can take.

[8gv]

The depreciation comes back as "recapture" and haunts you on the sale of the property.

It's more of a tax deferral than a tax break.

[jeffk]

Originally Posted by Garcia

Best thing to do is to be a NH resident and rent rather than own. No state taxes, no sales tax, and no property tax.

You don't think the cost of property taxes are built into the rent payments? It would be a really dumb landlord that didn't do that.