Hi Ladies (and some gentlemen),
I'm trying to do some research on what property taxes are like in NH, specifically Concord area. I'm not sure if it is different town to town. I know that NH has one of the highest property taxes in New England because of no sales tax, but how bad is it really? My family is probably moving there within next 6-9 months, and my husband and I are trying to figure out how much house we can afford. The house prices are phenomenally low right now, and we want to make sure that we don't bite off more than we can chew. However, we don't seem to be finding out the information online that we thought we would.
Does anyone know what the percentage is for how they base the property taxes? Do they send you out a bill at the end of the year or is it something you pay on quarterly or what?
Any information on this would be incredibly helpful, as we are pretty much in the dark here.
In addition to the listing showing the taxes, in Concord you can look these things up online. The city website has a section that will tell you the taxes, assessed value and price that the house last sold for. (We lived in Concord until moving to a nearby town 5 years ago.). Good luck.
The tax rate in Concord right now is 10.835 and that is for City (3.745)+ County(1.345 )+ Local Ed(4.57 )+ State Ed(1.175). I am a Real Estate Broker in the area and offer an usual service of commission credit back to the buyers I work with. I give you back 1% of the Sales price at closing to help with closing costs. So if you buy @ $300,000 you get $3,000 credit at closing. I do this because I am an independent broker and focus on helping others in this tough economy. I also am a work-from-home mom, so I have little overhead compared to bigger companies but have been a broker for almost 10 years.
Something else to keep in mind with NH, there is a NH State Transfer Tax that goes right to the state for all real estate transactions. The rate for that is $15/ thousand, split between the buyer and seller($7.5/thousand each). So on $300,000 the total tax would be 300x15=$4,500 split two ways. The Buyer pays $2,250 as part of their closing costs and so does the seller. This catches some buyers very much by surprise. Now you know. Please let me know if I can help you in any way. I agree with the poster who said to visit www.NNEREN.com, that is the public side of the MLS and is the most up-to-date with information. I can help with any home you see there, if you'd like.
Concord pays it's taxes quarterly. I don't know the exact tax rate, it's not too bad. I live in Pembroke and the rate is higher in my town. It does vary from town to town. For example Canterbury is very low, while Pittsfield is very high. When looking at a house listing don't they disclose what the annual taxes are? You can break that down and figure out what you would need to set aside monthly etc. But I would recommend looking at various towns in the concord area. Good luck!
Here is a web site for you. http://www.nneren.com
NH has incredibly high property taxes because they have no INCOME tax, so schools, etc are entirely funded by property taxes.
Bear in mind that if you get a job in MA you still pay MA income tax and then NH property tax, so be very careful about doing that.
I would check with a realtor because the taxes do vary from town to town. And, I would caution you that while some towns have very good school systems, in general the NH education is not ranked as highly as some other new England states because they don't have as much $ to spend on the schools. So do your research on school systems as well.
As for how it's paid, you'll likely escrow it quarterly - your mortgage company will figure out how much your yearly tax bill is, you'll pay your mortgage every month and that will include taxes and insurance, and then your mortgage company will pay the tax for you on a quarterly basis.
I agree with another poster - do check with a realtor, because they'll be able to steer you in the right direction. Also, you can sometimes find out what the yearly property tax is when looking at online listings.
Good luck.
Get in touch with a realtor in that area.......they should be able to assist you with your questions. School districts can be different too, so I would talk to a realtor and see if they can be of assistance..........and if you talk to one and don't seem to be getting the answers you want, feel free to talk to others to find one you like and feel is looking out for you....
Good Luck and take care.
The City of Concord's website has the tax rate information and can be found here http://www.ci.concord.nh.us/assessing/concordv2.asp?sitei...
Also, you can check out visionappraisal.com to see valuations of specific properties, once you have a better idea of what you're doing, move-wise. But, yes, the MLS listings generally list the tax rates (if not the current year's then the year before). Just today, the Concord Monitor had a piece on the tax rate rising in Concord, as property assessments drop. You can check that out at http://www.concordmonitor.com/article/224235/property-tax...
I live in Concord and, yes, the property taxes are a bit steep, but we enjoy living in the city. If you have younger kids, the elementary schools are also going through a consolidation, set to be done for the school year beginning 2012, I believe. There's a lot in the Concord Monitor about that, as well.
Good luck in whatever you do!
MLS listings almost always have the property tax included in them, so when you see a house you like on line the listing should have teh taxes included. If it is not, you can always call the listing agent and request the info.
Good Luck!
