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Attention New Hampshire Property Owners!

Attention all New Hampshire Property Owners...we need your help!!!!

This is very important Information for all New Hampshire Property owners...and an UNFAIR burden on the backs of all property owners.

This Bill has been defeated before with the help of all New Hampshire REALTORS® and now it is being revisited again with House Bill 868.

Please help us defeat it again!

If passed this will impact you and your pocket when you sell your home, we already have the highest real estate property transfer tax in the nation!!!

Please take action and help us fight this new tax Again!!!! Pay close attention to talking point # 4...double taxation.

Thank you for your support and attention to this very important issue...we really need your help on this one!

Please call your Representatives- find them by clicking here.

The following is reprinted with permission from the NH Association of REALTORS®...

Please contact your local State Representatives regarding House Bill 868, relative to a surcharge on recording documents with the register of deeds to fund the Land and Community Heritage Investment Program (LCHIP).

HB 868 proposes a new tax on recording documents in New Hampshire. The revenue generated by the tax is to be dedicated to LCHIP.

The New Hampshire Association of REALTORS® supports LCHIP, and to that end endorses the $12 million LCHIP line item in Gov. Lynch's proposed budget. However, a new tax related to real estate is unreasonable.

The bipartisan majority of the House Municipal and County Government Committee voted 9-8 in favor of killing the bill, and the House will be voting on the legislation very soon. Please take a moment and call your local Representatives to express your opposition to the new tax.

For your Representatives' contact information, click here.


Talking Points:

  • New Hampshire has the highest uniform state real estate transfer tax in the country. New taxes will create higher burdens for individuals attempting to purchase new property and could reduce housing opportunities across income spectrums.
  • LCHIP is already funded in the proposed budget. Why should LCHIP, a non-state agency, receive a dedicated funding source with no oversight, while other human service programs must justify their needs through the budget process?
  • Almost all county registrars of deeds oppose the new tax. Many testified that the bill creates administrative burdens for the counties and were unclear whether the $40 tax applies to every page recorded in a deed, mortgage or recording of plats.
  • Is this double taxation? The Department of Revenue did not take a position on the bill but did provide a list of serious concerns, including the issues of whether the counties should be collecting a tax for a non-state agency and whether the proposal was, in fact, double taxation.



Jay and Monika McGillicuddy

Prudential Verani Realty

Hampstead NH

603-548-7728

Posted Sunday Mar 04
( 03/04/07 01:12PM ) — Rick & Ines - Miami Shores Real Estate

Way to look out for your fellow citizens Monika!  It's about information and education and you're putting it out there for people - I hope you get the exposure you need.

( 03/04/07 01:21PM ) — Mariana Wagner ~ Colorado Springs REALTOR®

Oh no! I hope that gets defeated again. We have really low property taxes - I actually think that we could afford to raise them a bit. (For example: Our personal annual property taxes were $613 in 2005.) I have heard that New England has higher taxes - Do you also have sales tax? We do - 7.2%.

( 03/04/07 02:42PM ) — Monika McGillicuddy~REALTOR®~ N.H. Real Estate Broker & Trainer

Thanks so much Ines....Everyone in NH needs to get on the band wagon with this...Lchip is a good thing but the burden shouldn't be on the back of home owners!

Mariana...NH does not have a state income tax or sales tax but our property taxes are very high. My property tax alone is $5,400 a year...of course that varies from town to town but still it's a pretty big chunk of change.

( 03/04/07 06:34PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Good grief!!!  This crazy bill has reared its ugly head again????  This needs to be defeated, or it will be the opening of Pandora's box!  Thanks for putting this out there for all NH residents to see - I'll be contacting my representatives for sure!

Thanks, Monika, for doing this post!
Ann

( 03/04/07 06:50PM ) — Monika McGillicuddy~NH Real Estate Broker

Thanks Ann...We need to stop it again. I hope people realize the negative impact this. Thanks for commenting.

( 03/04/07 09:10PM ) — George Souto

Monika, I attended a Realtor Council Meeting in Middletown on Thursday, and we found out that there is an effort to pass a 1.5% conveyance tax on Buyers this legislative session her in CT. That is $1,500 extra per every $100,000 in sales price that they would have to come up with in Closing Costs....Ouch  Talk about making it tough especially on first time homebuyers, in fact it would cause many of them to have to wait to be able to come up with the extra money.

( 03/05/07 06:17PM ) — Monika McGillicuddy~REALTOR®~ N.H. Real Estate Broker & Trainer

George...That is why we need to fight this..so many people will be impacted and maybe not able to close on a home because of it. Thanks for stopping by George.

( 03/05/07 10:40PM ) — Sue Argue - NH Home Stager

Monika, no one wants to hear it but... it's difficult to avoid an income tax AND avoid tacking on fees somewhere else. I feel for our seniors. No easy answers...

Sue 

 

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