Retiring & Owning a Home in Goffstown
In round figures, there are around 17,000 residents in about 7,000 households in Goffstown. Presumably most residents enjoy the somewhat quiet country atmosphere around town and the activities typical for a NH suburb. Many residents are themselves homeowners.
Many, perhaps most, Goffstown homeowners undoubtedly also own nice newer cars, big-screen HD TVs and all the other “stuff” that is perceived to be necessary to have for living the “good life.” A reasonable debate isn’t about whether it is a good thing to own things; it is about the observation that people really ought to consider whether they really own the things at all and what that could mean.
Most people are aware that if too many car payments are missed, then a person driving a tow truck with a big “hook” could come by to “repossess” the nice newer car. The point to be made is that people don’t really own anything until it is paid-off and the title is in hand. Until the time that the “title is in hand,” the creditor “owns” the car. That principle also applies to homes.
Most people understand that there are also other ways to have a home repossessed. For instance, the town could take the home for failure to pay property taxes.
Read the back of the “Goffstown Property Tax Bill” for details:
The back of the tax bill also explains “Property Tax Relief Programs.” Some people might find it a good idea to look at and consider filing a “Property Tax Abatement Request.”
The Goffstown Tax Collector probably hasn’t been very busy “repossessing” property tax delinquent homes. The future, especially if the economic downturn continues, could change that quite a lot. The point to be made is that the Tax Collector has the legal authority to deed a home to the town.
Banks and credit bureaus might also be somewhat less forgiving with delinquent mortgage payments.
Retiring in Goffstown is also an area of interest for people that are retired or soon will be.
Sometimes taxes are of extreme interest to people who need to budget for retirement and here is where things may be problematic for some people because the property tax is regressive.
While the property tax is certainly regressive it is also a great way to control spending…in fact the only real way that actual voters can have a direct impact on overall spending and taxes.
The point to be made is that the property tax has a direct impact on those on a fixed or no income (for whatever reason.) For that reason, NH ranks high as a poor state in which to retire.
The Taxpayers Network website is a good source of 50 state comparisons of all sorts. Must reading!
The fact that local and state employee compensation (wages & benefits) are at an entirely different level is a subject of interest to those with no possibility of a job, retirement or any benefits. In a time of a very uncertain national/international economic future, paying public benefits will be a challenge.