In the state of New Hampshire, both the buyer and seller pay Real Estate Transfer Tax, or RETT. This transfer tax is required for most typical transactions when the ownership of a property is transferred to the new owner. The current tax amount is $0.75 for every $100 of the sale price of the property. Both the buyer and the … Read the rest
New Hampshire is one of the few states that does not have a general sales tax. It is one of the many “New Hampshire Advantages” you will see when you live in this beautiful area of the country. Collecting sales tax on internet sales has been a major issue for years. And the insistence of collecting that sales tax only … Read the rest
State and local taxes (or SALT) are taxes charged in addition to any federal taxes. Many states and localities charge these taxes. Most states choose to use income and sales tax, as well as property and real estate taxes for their state and local taxes. However, in the state of New Hampshire, property and real estate taxes cover the local … Read the rest
As a business in New Hampshire, if you have qualifying research and manufacturing expenditures, you are allowed to file for the New Hampshire Research and Development Tax Credit. The credit you receive will be based upon the amount you paid people in your company, as they worked on “discovering information which constitutes qualified research and development of a new or … Read the rest
Have you ever checked out your property tax card for any land you currently own? Every parcel of land in New Hampshire has one of these cards. Or at least they used to. The form of the tax card has changed over the years, thanks to technology.
Years ago, you could head to the Assessor’s Office in your town or … Read the rest
The New Hampshire Supreme Court has upheld a denial of tax abatement for a commercial property in Dover.
I) Background on Tax Abatement in New Hampshire
Municipal ad-valorem property taxes are based on the fair market value of the subject property. If a city values the property for more than it is actually worth, the property owner ends up … Read the rest
March 1, 2021 is the deadline to challenge your 2020 real estate taxes.
Please keep in mind the deadline to challenge your 2020 real estate taxes is March 1, 2021. Your request for a refund must be postmarked by this date and addressed to the municipality in order for the municipality to grant you a refund. You can obtain a … Read the rest
Alfano Law attorney, John Hayes, successfully challenged a provision of the tax-deeding statute that permitted municipalities to profit from the sale of tax-deeded properties. While the tax deeding statute required municipalities to distribute profit to former owners if they sold the property within three years, the law does not require municipalities to sell tax-deeded properties within that time-frame.
In the … Read the rest
Several months ago, a few of us at Alfano Law Office noticed the frequency with which our office fights municipalities to protect property rights. Property rights are more than just things in your home or office. They include the right to use and develop land, the right to be paid full market value should the government take your property through … Read the rest
Assets are not just about houses and large bank accounts. Cars, clothing, books, and other personal property are all assets that become part of an estate when someone dies. Surviving family members cannot just immediately clean out and sell a house. It is impossible to predict when something will happen to us or a loved one and that is why … Read the rest