New Hampshire - Proposed Taxes Are Not Good for Homeowners or Businesses

Joan--It seems that is the way of "fixing" everything everywhere...Tax, tax and more tax. It is not being well received in MN. Our Governor is in the process of "un-allotment" to avoid tax increases voted in by our legislators. Not pretty but effective.

Hi Joan:

Transfer tax on re-financing?

What a bad idea!

What will they come up with next?

Hi Joan,
It's happening all over the country!  Property owners are being burdened with a tax load that could be the straw that broke the camel's back. 

Joan, I see it happening every where. Home owners are trying to get taxes to be lowered by appealing them and school districts are increasing taxes.

Great call to action for people to be politically active Joan!  WOO HOO on the update that the transfer tax will not be passed on in a refi!!

Hi Joan, Seeing what we are going through here in California and reading about the other states and NH, it seems the tax paying people are getting a real dose of reality. The states can't keep adding the new programs ad infinitem. Here in out state we have programs for illegals non-citizens ( I almost forgot we are not allowed to use that word or we are considered racist) from free health care all the way to free education at the college level. Can you believe it? Tax payers in general may be the new minority and I wonder when or if they will just say, "enough". So far ,no indicators that will happen. So might as well just keep raising the taxes and allowing those that don't pay them to decide how they should be spent.

We have such a huge budget shortfall here in California that no one can decide what to do, so they do nothing. It's easy to say "cut goverment," but when you cut goverment, you cut government jobs, and then all those people are in the unemployment line, so it's kind of a "Catch 22." The whole economy feeds off itself, so if one part breaks down, it has a ripple effect. And it's not going to get better with a worldwide economy, as we have seen with the current economies throughout the world. One country fails and it has a ripple effect throughout every other country.

Joan, that one cracked me up. " I guess we have too many people in New Hampshire that have moved up from Massachusetts (lol)" At least you don't have an income tax like us in FL. That transfer tax on refinancing is plain non sense and at such a bad time.What is the % of the tax? Geez and cutting that business loophole?That is not good business sense. People will loose their jobs.  How they handling the short fall in my area? cutting back spending in every department. That is rough.Again its the homewoner who is hurting here like in many other states. The property value dropped but the property taxes do not reflect that drop. I guess they have their own loophole! Luckely the deals are tremedous here so its a toss up. 

On the flip side I just heard that the Government is puting a freeze on raising interest rates on the credit cards of existing accounts.What rate it was in the first place is another question. But you are so right we have to be pro active.

Joan, the fact that someone even thought of a transfer tax on refinancing is a pretty scary thing!  Yikes!  That could spread!

I also read through all the comments. I'm wondering about Steve's comment (#25) about Florida having an income tax. They don't. In fact, seven states don't have income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Interestingly, New Hampshire and Tennessee tax residents only on income earned through interest and dividends.

Also interesting is that Alaska, Delaware, Montana, New Hampshire and Oregon currently charge no sales tax.

Looks like New Hampshire has it pretty good. Hmmmmm. Maybe I need to move there. LOL