Bahre Property Sold

[Toyorelle]

Originally Posted by The Real BigGuy

FLL - Remember it’s the assessed value that determine’s taxes, not sale price. Property tax bill will probably increase . . . It always does.


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Incorrect, transfer tax in the state of NH is based on the purchase price not assessed value. 1.5% split 50/50 by the buyer and seller.

[Charlie T]

Originally Posted by Toyorelle

Incorrect, transfer tax in the state of NH is based on the purchase price not assessed value. 1.5% split 50/50 by the buyer and seller.

Isn't transfer tax just a sales tax with another name?

[joey2665]

Originally Posted by Charlie T

Isn't transfer tax just a sales tax with another name?

Yes it is. But after a sale the town always comes to the property to reassess the value and has access to the sale data from the transfer tax forms.

[thinkxingu]

Originally Posted by Charlie T

Isn't transfer tax just a sales tax with another name?

We don't have sales taxes in NH; it's a transfer tax. *Wink*

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[Biggd]

I guess I waited too long. I was hoping the price would come down to about a million then I was going to cash in all my IRA's and jump on it.

[Mr. V]

Really, who NEEDS a house that big?

[The Real BigGuy]

Originally Posted by Toyorelle

Incorrect, transfer tax in the state of NH is based on the purchase price not assessed value. 1.5% split 50/50 by the buyer and seller.

We are talking property taxes not transfer tax


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[nj2nh]

Originally Posted by Toyorelle

Incorrect, transfer tax in the state of NH is based on the purchase price not assessed value. 1.5% split 50/50 by the buyer and seller.

He was talking about property taxes, not the transfer tax.


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