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NH Property Values Will Stay Depressed Compared to Massachusetts

Monday, August 17, 2015 12:50
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By Ed lamm

What I haven't seen posted (as of yet) is the very real fact that when property taxes are inflated (such as in most cities and towns in NH), then property values become depressed. I bought in Windham, NH in 2001. At that time my taxes were $5,000 annually. When I sold the home in 2004, the taxes were $7,000. Today, that same home's tax burden is $12,000 yearly…..while the market value of the home went from $450,000 (what I paid), to only $529,000 (what it sold for last month)….I moved back to Massachusetts for this very reason..and I'm sure people that read this will use the old argument that you don't want to initiate a sales tax, but that's an idea that has lost it's usefulness in the 21st century…You can't keep going to the same well for water…eventually that well dries up, and becomes a useless hole in the ground… A sales tax is the fairest method of  taxation. People that can afford to purchase exoensive items pay the most…and that's the way it should be…a use-based fee. You should never rely on what is the most necessary thing in people's lives…the roof over their head…for your tax base. Not only is it unfair, it's unjust. The tax burden should be spread out equally, and take many forms. I am not an advocate for any taxes at all, but you cannot (and should not) hit only the homeowner..what about people that retire, and are living on social security? How are they going to pay $5-$6,000 a year in tax on their modest home when they're only earning $12-$15,000 a year?

Until things change, property values in NH will continue to stay depressed…It just doesn't make any sense to buy a home in NH when you could stay in Mass, pay more up front, but not get stuck with exorbitant property taxes that you will pay for the rest of your life.

They like to call Massachusetts 'Taxachusetts', but the reality is that people in NH pay more in taxes (especially if you work in Mass), than your neighbors to the south…

When this changes, you all will be better off….

Good Luck!

Live Free or Die Alliance

Source: http://townhall.livefreeordiealliance.org/xn/detail/4091641:BlogPost:75007
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