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Key Takeaways. A transfer tax is charged by a state or local government to complete a sale of property from one owner to another. The tax is typically based on the value of the property. A federal or state inheritance tax or estate tax may be considered a type of transfer tax. What Is a Transfer Tax? Definition and How It Works With Inheritances investopedia.com https://.investopedia.com › terms › transfertax investopedia.com https://.investopedia.com › terms › transfertax

New Hampshire Property Tax Rates Tax rates are expressed in mills, with one mill equal to $1 of tax for every $1,000 in assessed property value. Because mill rates can differ so much between counties and towns, it's easiest to compare property taxes using effective property tax rates and not mill rates.

A person or entity may transfer ownership of a property in New Hampshire through an executed deed. The deed must be signed in front of a notary, commissioner, or justice to be valid and must be recorded in the register's office. The deed will not be valid for a sale or transfer if not recorded.

Transfer Tax – 0.5% of the selling price, or zonal value or fair market value, which ever is higher. Title Transfer - Real Estate Titling Related Services xternalco.com https://.xternalco.com › transfer-of-title-and-real-est... xternalco.com https://.xternalco.com › transfer-of-title-and-real-est...

To request forms, please email forms@dra.nh.gov or call the Forms Line at (603) 230-5001. If you have a substantive question or need assistance completing a form, please contact Taxpayer Services at (603) 230-5920.

Overview of New Hampshire Taxes But while the state has no personal income tax and no sales tax, it has the fourth-highest property tax rates of any U.S. state, with an average effective rate of 1.77%. Consequently, the median annual property tax payment here is $6,097. New Hampshire Property Tax Calculator - SmartAsset smartasset.com https://smartasset.com › taxes › new-hampshire-property-... smartasset.com https://smartasset.com › taxes › new-hampshire-property-...

The tax is imposed on both the buyer and the seller at the rate of $. 75 per $100 of the price or consideration for the sale, granting, or transfer. What types of transactions are taxable? All contractual transfers are subject to tax unless specifically exempt under RSA 78-B:2.

New Hampshire has no income tax on wages and salaries. However, there is a 5% tax on interest and dividends. The state also has no sales tax. Homeowners in New Hampshire pay some of the highest average effective property tax rates in the country. New Hampshire Income Tax Calculator - SmartAsset smartasset.com https://smartasset.com › taxes › new-hampshire-tax-calcu... smartasset.com https://smartasset.com › taxes › new-hampshire-tax-calcu...