Taxes in NH - Real Estate Property Tax - 3 Things You Should Know
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- เผยแพร่เมื่อ 28 ส.ค. 2024
- Taxes in NH - Real Estate Property Tax - 3 Things You Should Know
Yes, NH has high property taxes, but here is why that is the case, how they are calculated and how to obtain this information for any NH property. Since assessments and tax rates can very widely from town-to-town, it is necessary to calculate them for each property. 🏠
If you are looking for inside information on New Hampshire from a native who has lived here her entire life and now helps people buy, sell and invest in real estate, then you are in the right place!
Have questions about real estate in NH? I have the answers! Send an email to nhhomeandhustle@gmail.com
Timestamps:
1:02 Assessed Value
2:14 Tax Rate
3:45 Example
4:21 What does this mean?
4:48 Tax Relief
State Website: www.revenue.nh...
More videos about NH: • NH INFORMATION
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Hello! My name is Jenn and I am a REALTOR® by day (most evenings plus weekends as well), and a ballroom dance instructor by night (as many nights as possible). I am a NH native that has travelled around the world but always returns to her home state of NH. This is where I want to raise my family, and I love sharing why!
I am so grateful for all you subscribers, so thanks for watching my videos!
Disclaimer: I do not receive any monetary compensation in relation to any referrals that I recommend to my viewers. Any opinions I express in my content are mine and do not reflect the opinions of my brokerage or any individuals within my brokerage.
#waltzingrealestateagent #propertytaxes #nhpropertytaxes #newhampshire #taxrate #assessedvalue #nhhomeandhustle
Wow this video is so great Jenn you really made the property tax clear!
Thank you, glad it was helpful!
im moving from Massachusetts to Bennington nh... saw this after the fact.
Thanks for watching! Let me know if there is anything I can do to help with your move.
Thank you, very informative
You are welcome! Thanks for watching!
Keep in mind Towns/cities are required to do revaluations on properties every 4 years. Sometime towns/cities will do it sooner if the equalization ratio gets too low. With a huge demand in NH properties, assessments will be raised due to the high purchase prices because they use a mass appraisal method. But as this video mentions, it's all about the tax rate!
Thanks for watching! Both numbers are equally as important, and equally as liable to change, so something to definitely keep in mind.
Is there nothing that lessens the chance of an exorbitant increase in tax rate from year to year?
Example- my mom's property taxes can NOT increase more than 3% per year where she lives. There is truly no surprise when it's time to pay.
In NH, can the tax rate just randomly change from $13.45 to $21.92 from one year to the next?
I am really nervous to move to NH and have taxes jump to an extreme and actually push me out of the state. Can they adjust the assessed value if NO updates are made to the home? Or can they just show up and pull the numbers out of their ass? I feel uneasy with the rates so high. I would want to avoid any "surprises."
@@christiecrawford1653 municipalities have to do a revaluation every 5 year, they can do it sooner if the equalization ratio gets too far from 100(fairly assessed market value). After a revaluation is complete and the new assessments are out the the town finalizes the budget and that gets sent to the department of revenue to get approved. This determines the new tax rate. So if a town had a dramatic tax increase which your worried about, the budget would have had to increased dramatically which unlikely. Not saying taxes aren’t going up, everything is more expensive due to inflation, but I wouldn’t worry about getting priced out if you can currently manage your expenses now. NH is a great state, good luck on your journey!
@@joshr5349 Thank you for the reply!
This is very helpful! I’m trying to learn about Current Tax Exemption for having a 10+ acre property with a forestry plan. I understand you’re taxed 10% of tree sale when the trees are harvested.
How do I calculate what the property tax would be for the years when the trees are growing but not being cut? Thank you!
Informative video. Thank You. Still not thrilled with my $10,000 yearly property tax bill in Concord.
Thanks for watching! At least the tax rate is decreasing again in Concord for the first time since 2007, but property assessments have been increasing.
Land of the free.
Thank YOU! It's very helpful!
You're welcome, thanks for watching!
I envy your property tax system .
Good job. How about a map of where natural gas is available. Also very handy would be a map of speedy and reliable Internet?
Don’t move to bow New Hampshire I left that town they rip you off big time on property taxes👎👎👎👎
Property tax rates range from 4-40 here in NH, and Bow is in the middle at 25. Here is a the site that compares property taxes by town joeshimkus.com/NH-Tax-Rates-2021.aspx
Great video, thank you
Thanks you for this video
Thanks for commenting, I appreciate the feedback!
I’m thinking about NH because I want a cooler climate.
I know you said NH do not have a tax on your salary, but what if you’re going to retire soon do they tax on stock dividends? I live right now in a state that does not have taxes, but I pay federal taxes
Yes they tax that
Great video very interesting
Glad you enjoyed it! Thanks for the comment.
@@NHHomeandHustle will contact you when I'm ready to move to New Hampshire
Good job!
Thank you!
Is there any general homestead exemption that a homeowner can apply for?
Hi Nick! The simple answer is no, nothing general. There are 3 categories of exemptions - personal (veterans, the elderly, etc.), entities (religious, charitable, etc.) and property (solar energy, historical, etc.) - but there are a lot of variables so I would suggest contacting the town tax accessor for the property you are interested in, and then a tax professional as well.
Even though property taxes may be high, they could be written off against federal income tax.
I'm moving over there trying to get into a CNC machine job paying 55k a year. I'll owe around 8k in federal tax, but the 12.5k standard deduction wipes that out to absolutely zero income tax. Once I have a higher income, I may owe over the 12.5k deductible. That's where the property tax becomes extremely helpful to reduce income tax back to zero.
@@Gzluweez That's for married couples filing jointly. I was just talking about a single person, but sorry about that. I forgot to mention it.
Alot of CNC jobs here
Aggirculture exemptions?
I cannot afford to live in NH much longer. The town I live in does not accept the reduction. You cannot force them.
Each town is different and possibly a move elsewhere in the state would work for you? I feel like it's getting expensive all over the country. Thanks for watching!
How does it work when you’re buying a piece of property that has no home on it do they assess it the same way?
Any advice for Apartment Renters?
Good thing is you don't have to pay property tax per se, but it is factored into the rental prices. If you are looking, don't give up! It may take awhile to find an affordable apartment , but I see new listings every day. Here is a search for Southern NH: myre.io/0wMJ9u5nyHvj
Do you have any advice on moving to maine.. i am trying to find a green builder to build a custom house. Do you know of any?
@Jenn Baer - In addition to the current property tax rate, it would be useful to see each town’s history of rates. Suppose it would be necessary to gather site by site for each town? No one has a crystal ball - especially these days - but do you think such effort would be useful?
Yes! I have found one resource that is quite accurate and that I use as a starting point for my clients (even though I am unable to vouch for the source): joeshimkus.com/NH-Tax-Rates-2020.aspx
What is a good way to determine where the disabled veteran exemptions are the best?
Hi Andrew! The Department of Revenue for NH has some documents. The most recent that they have posted is 2019 and it goes by county and then by town here: www.revenue.nh.gov/mun-prop/property/equalization-2019/documents/etc-county-summary.pdf and there are more links for information at www.revenue.nh.gov/faq/veterans-credit-exempt.htm
I'm moving out of this State.
the video image is too poor, you need to fix it more
😍🥰😘