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)
> 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)
> 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
4 comments:
Does this comparison lead you to any conclusions about either the fiscal management of the VT and NH relative to each other or compared to other states?
Thank you for the information.
Could you assist me with this situation.
We are retired Florida residents which saves us income tax issues etc.
and want to but a second home in either Vermont or New Hampshire.
Are there significant differences with our situation?
Thank you
Thank you for your information.It was helpful.
We are retired Florida residents and would like to know your opinion if there would be any significant differences to purchase a home in Vermont versus New Hampshire regarding property taxes??
Thank you-
My post was very old, but current comparisons are probably similar, but with higher numbers. Property taxes are high in both states, but I think, in general, higher in NH. The overall tax burden is higherin VT. With Fl residency, you might be better off with a second home in VT.
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