anon_investor wrote: ↑Sat Jun 12, 2021 7:50 am
beyou wrote: ↑Sat Jun 12, 2021 7:44 am
anon_investor wrote: ↑Sat Jun 12, 2021 6:41 am
beyou wrote: ↑Sat Jun 12, 2021 6:33 am
exodusNH wrote: ↑Thu Jun 10, 2021 10:43 am
Depending on which town you're in, the property taxes aren't that bad. I have .3 acre. The property taxes are about $5,500 per year. Water and sewer are $5.50/100 cu ft (which is a lot of water). If you like to water outside, you can get a bypass meter so you're only paying the water portion which is $1.50/100 cu ft.
Car registration for new cars is generally $18 per $1000 MSRP. It drops from there. My registration for my 2019 car was $350 this year, down from $750 when I first bought it.
Other towns definitely can have higher property taxes, but those towns are easy to avoid. It's always the schools that cost money -- for me, more than 50% of my tax bill goes to the schools. There are usually abatements available for retired people.
But if you live in a modest house and drive a modest vehicle, you've basically capped your taxes. There is a 9.5% tax on prepared meals, so if you eat out a lot, you will pay that. But that's really designed as a tourist tax.
In the southern and eastern portions of the state, you're less than an hour from Boston. Winters aren't that bad -- definitely more mild than 30 years ago. Where I live, I'm 45 minutes from Boston, 45 minutes from the ocean, and 45 minutes from the mountains.
$5500/year property tax, while above the national average is a bargain coming from NYC metro area (including new and jersey, new york). I now pay 15,000. Not really worried if my vehicle reg goes up a couple hundred per year. This is a state I am considering when my spouse is ready to retire and consider moving. Tough to leave family, friends and more where I am. I too am close to beaches, major city and mountains, but at 3x the prop tax !
I think NH still has a 5% dividends and interest tax. So something to think about for folks with a large taxable account.
Still cheaper for me to move there with rates this low. Note they do not have state sales tax, no tax on pension, retirement withdrawals. And I can concentrate taxable in growth stocks (low dividend), 401k and ira in bonds, value stocks ! NH considered and declined capital gains taxation in 2019 (my current state taxes cap gains as regular income).
Good resource to get basics on state taxation ;
https://smartasset.com/retirement/new-h ... ment-taxes
Good points! Probably why my friend that just early retired is looking to move to NH.
We retired to NH from NY in 2020. FYI- they are working on phasing out the interest and dividends tax over $5000.
Property tax is high in our part of NH considering what you get for it compared to where we lived in Hudson Valley, NY. They are half of what we paid but what we live in is half of what we had in NY. But there are other towns with very low property taxes or even none at all if you like roughing it. And NH has fees for everything, but after 3 years I do believe seniors get a break on their property taxes and you can get into state parks for free- meaning no parking fee..
So- my heart was in Vermont where we had vacationed for over 22 years. We did vacation a lot in NH as well. Massachusetts and Maine. But NH, where our only child lives, was a no brainer, though we did consider other states- some south- which we are not familiar with at all except somewhat for Florida - and some out West. But what connections would we have in those places? None! And would be so far away from our adult son and from family and friends in NY and Connecticut. Not that we plan on visiting a lot but at least it would be an option (without flying) and same if they ever came out our way.
We like the four seasons. NH has no income tax, no sales tax, a political organization where we could be with like minded people, a brand new, affordable cottage we could buy in a community where we could age and in an area with lots of activities and restaurants and so forth, medical care is close by, regional airport in Manchester, Boston not too far if we need to get to a major airport, or for whatever else, gorgeous lakes and mountains, which was really what we wanted, one hour from our timeshare in the White Mountains, as I mentioned our only child lives here- not too far from us- and it is close to Vermont for visits!
Is it perfect? Of course not, but no place is. It gets crowded and noisy in our area during tourist season for one thing.
Just have to sort out in your mind the pros and cons and also listen to your heart. And I recommend a book I read: "This is Where I Belong" by Melody Warnick. This will help you love where you live or where you finally end up and stop searching for utopia.