NH's reduced revenues resulting in transferred burden to towns
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In the past 8 years, NH has reduced rates on the Business Profit Tax and the Business Enterprise Tax, meaning over a billion dollars has been lost to the state. The loss of the interest and dividends tax, which the state has had since 1920, has resulted in the loss of an additional $180 million.
The loss of these revenues has resulted in the state transferring many costs onto towns and municipalities, meaning the local taxes are skyrocketing, and housing is becoming unaffordable.
We need to restore these taxes, and consider new formulas for taxation.
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Posted by:Anonymous
6 months ago
The most important part is the curriculum not the money. I know money matters but it needs to be quality of content in the curriculum. For instance starting in kindergarten teach history chronologically, it makes sense to a growing child’s brain. Some history teachers jump all over the place based on whatever they feel like teaching and it just doesn’t make sense.
Posted by:Anonymous
6 months ago
Classical education is the way to go for sure!
Profile of Karen M.
Posted by:Karen M.
5 months ago
Agreed.
Profile of Moose Mole
Posted by:Moose Mole
6 months ago
No one likes the idea of a sales tax or income tax or tax on interest, but we need to have a way to raise state revenue and remove the burden on towns and home owners.
The number one reason I am planning to move in 1 to 2 years out of NH is my property tax bill.
A 1% sales tax would be a great start - it means all NH consumers contribute, and it will Still bring in out of staters to do business since it is so much less then our neighboring states. But I would not want to go higher than that since a sales tax impacts lower income folks more. So that means we need to also look at an income tax. I suggest it be 0% for the first $30,000 anyone has for income, then it increases in stages.
Profile of Woodchuck Dinosaur
Posted by:Woodchuck Dinosaur
6 months ago
@Moose Mole The reduction in the Business Taxes will not be creating the jobs the legislators touted. NH has the lowest business taxes in the Northeast and for a good part of the country. I believe it was calculated that the average business will save $350 a year except the major companies with the decrease to the Business Profit Tax. The revenue also lost from the Interests and Dividends is again did not make sense. NH decreased the Rooms & Meals tax and this is one that benefits us from mainly visitors to the state. I do not feel we
would benefit from a Sales Tax - as retail businesses at our state borders benefit. In the Lakes, tour buses come in for out-of-state travelers to shop especially before the holidays. It is an expensive tax also to administer. The Governor needs to call for an independent study committee (no legislators) to review our taxes and fees and make recommendation for restructuring so NH has the revenues to cover its obligations to its residents.
Profile of Pug Goose
Posted by:Pug Goose
6 months ago
I totally agree with you! I don't know if a lot of folks connect the dots when it comes to their yearly tax bill. There are criticisms that the school districts should tighten their belts, and the county /town should cut costs etc. when the revenue we used to receive has gone down year after year from the state. The pressure on the property tax rates is not sustainable.
Profile of Skunk Lizard
Posted by:Skunk Lizard
6 months ago
@Pug Goose people who believe that we need to be stricter about school funding or delusional. Town budget fund the school, the fire department, and the police department. We need to have a serious conversation about how towns are over funding police departments, and intentionally under funding schools. All of those funds come from the same pool, and over and over again, they choose the police over the school. There is so much data showing that the more police officers a town has, the higher crime is, so why are we over funding these departments? I live in a town that has an excessive amount of police officers, cruisers and high-tech gear. It is a small, quiet town that does not have a need for a police department as armed or as robust as it is. We need to get real when we talk about these issues, because schools are the last place where money should be cut.
Posted by:Anonymous
6 months ago
@Pug Goose I agree. People who do NOT own their homes don’t “really” get impacted by taxes but even if they do, I find parents with school-age children are t engaged with their kids and this burden goes to schools. And I find public schools have fallen in scholastic exceptionalism. I paid for my kids to go to private AND paid taxes but I’m starting to question why I didn’t get an educational tax exception to move my tax money to the better (private) school. People don’t comprehend anything unless their skin is in the game.
Profile of Porcupine Kangaroo
Posted by:Porcupine Kangaroo
6 months ago
As a former teacher and parent that also utilized private school due to the low quality of schools in my area, I wholeheartedly agree! If we had education vouchers it would create a more competitive environment amongst our schools AND inject more money into private schools so they can do a better job, especially with special needs children who escape bullying, etc in public schools.
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