April 8, 2011

Vermont and New Hampshire Property Tax Comparison

Another comparison of VT with New Hampshire. Overall, NH wins the two state tax comparison with no sales or income tax. The good news for homeowners is that VT's residential property values did not suffer in the housing bust as did most other states.


3. Vermont
> Average Property Taxes as % of Median Income: 5.4% (3rd Most)
> Average Median Property Taxes Paid on Homes: $4,618 (3rd Most)
> Unemployment Rate: 5.6% (5th lowest)
> Average Median Income for Home Owners: $77,161 (7th Highest)
> % decrease in Median Home value (2006-2009): +9.0% (20th largest increase)
Vermont residents spend 5% of their net incomes on property taxes, the third most in the country. The median homeowner income is the seventh-highest in the U.S., at $77,161 per person. An additional boon for state homeowners is a 9% increase in home values between 2006 and 2009, well above the national average. Unemployment is low, which in theory should mean the pool of potential homebuyers should be greater than in many other states.
2. New Hampshire
> Average Property Taxes as % of Median Income: 6.38% (2nd Most)
> Average Median Property Taxes Paid on Homes: $4,168 (2nd Most)
> Unemployment Rate: 5.4% (4th lowest)
> Average Median Income for Home Owners: $72,489 (13th Highest)
> % decrease in Median Home value (2006-2009): -2.8% (11th Greatest Decrease)
Vermont’s neighbor, New Hampshire, has an even higher rate of property taxes as a percent of resident income, at 6.38%. The state’s residents also pay the second-most overall on taxes, a median of $4,168 per household. Unlike Vermont, property values decreased by 2.8% between 2006 and 2009, the  11th highest decrease in the country. New Hampshire has comparably low unemployment rates and median income for homeowners, meaning residents are probably more capable of paying these large property taxes than the residents of less well-off states.


Read more: The Ten States With The Worst Property Taxes - 24/7 Wall St. http://247wallst.com/2011/04/05/the-ten-states-with-the-worst-property-taxes/#ixzz1IwBG57fz
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