Free State Project Forum

Please login or register.

Login with username, password and session length
Pages: [1]   Go Down

Author Topic: How bad are the property taxes, really?  (Read 2969 times)

have_pen_will_travel

  • *
  • Offline Offline
  • Posts: 3
How bad are the property taxes, really?
« on: October 23, 2014, 12:59:43 pm »

Hey guys,

Glad to be among like-minded people. My wife and I are new to the FSP, but we're looking forward to making the move in the spring. Can't wait to meet some of you!

We recently came across the New Hampshire Housing website. We've been renting forever, and we're eager to get on the ladder and buy our first home. We currently live in Massachusetts (Metro Boston), so we don't have much in the way of a considerable downpayment. That doesn't seem like it's going to be a huge issue. However, that's not what we're most concerned about - property taxes are.

In our preliminary research, the subject of NH's high property taxes has come up again and again. At this point, I'm wondering just how bad they really are?

We're only looking for a mortgage on a house worth between $100k-$120k, but I've got to admit the property tax issue is a little worrying. Should we be concerned, as relatively low-income first-time homebuyers?

Thanks in advance for any help/advice/suggestions you might have.
Logged

JasonPSorens

  • Administrator
  • *****
  • Offline Offline
  • Posts: 5718
  • Neohantonum liberissimum erit.
    • My Homepage
Re: How bad are the property taxes, really?
« Reply #1 on: October 24, 2014, 07:39:26 am »

At that price level, you will likely pay in the range of $2000-3000 a year in property taxes. Property tax rates and valuations vary significantly by town. Other taxes are very low, so overall NH has a very low tax burden. For more info on towns, including tax rates and median payments, see http://dartmouth.edu/~jsorens/nhtowns2.xls
Logged
"Educate your children, educate yourselves, in the love for the freedom of others, for only in this way will your own freedom not be a gratuitous gift from fate. You will be aware of its worth and will have the courage to defend it." --Joaquim Nabuco (1883), Abolitionism

have_pen_will_travel

  • *
  • Offline Offline
  • Posts: 3
Re: How bad are the property taxes, really?
« Reply #2 on: October 24, 2014, 08:36:13 am »

Awesome, thanks for the info, Jason, appreciate it. That spreadsheet was very helpful - going to hang onto that for future reference.

Thanks again!
Logged

freedomroad

  • Guest
Re: How bad are the property taxes, really?
« Reply #3 on: October 24, 2014, 09:22:36 am »

Property tax bills tend to be lower in NH than in the Boston 'burbs. However, if you still work in the greater Boston area, I'm not sure if there are a bunch of houses either in MA or NH in decent areas in that price range. With a price range like that, you'd be more likely to find a very small house, condo or manufactured home on a little bit of land. If that is all you want to pay for a house, I'd consider buying a house later or living 90 minutes or more away from Boston, to open up your options. Another issue is that you can find houses in that price in southeastern NH but they tend to be foreclosed or highly damaged houses. If a damaged home was fixed, it might be worth 50k more so you would be billed for property taxes on that 50k too.
Logged

have_pen_will_travel

  • *
  • Offline Offline
  • Posts: 3
Re: How bad are the property taxes, really?
« Reply #4 on: October 24, 2014, 10:34:33 pm »

Hey, thanks for the input. I should have said that we're looking to move to either Carroll or Grafton County. And yeah, we're certainly not looking for anything palatial - just a small house.

Thanks again.
Logged

ptb

  • **
  • Offline Offline
  • Posts: 95
  • Voluntarist Freethinker
Re: How bad are the property taxes, really?
« Reply #5 on: October 25, 2014, 01:52:39 pm »

For a point of reference, our house in Grafton was assessed for 180-200k (I honestly can't remember) and last year's property taxes worked out to be about $11.47 a day.

 - Peter
Logged

freedomroad

  • Guest
Re: How bad are the property taxes, really?
« Reply #6 on: October 25, 2014, 06:46:45 pm »

Hey, thanks for the input. I should have said that we're looking to move to either Carroll or Grafton County. And yeah, we're certainly not looking for anything palatial - just a small house.

Thanks again.

I don't have a finger on Carroll County. As for Grafton County, you may want to avoid buying in Lebanon, Hanover, and every town that directly borders either community.
Logged
Pages: [1]   Go Up
 

anything