Transfer Tax on Real Estate

bigdog · 11-24-2009, 10:27 PM

Need some clarity from the Forum about the Real Estate 'Transfer Tax' paid in N.H. at time of R.E. purchase/Closing.....

I understand that there is a Real Estate 'Transfer' tax in Gilford,
or paid to County. Gilford Tax Collector told me that was $15. per thousand of purchase price. Is this paid to Gilfor or the Belknap County?

Well..... My mortgage banker (this is a major US bank), indicated to me that
this is a 'State' Transfer tax paid, and it was based on a percetage of purchase price. Now I'm really confused?

Me thinks, Someone is giving me bad information ?

My question:
Are there two 'Transfer Taxes' which must be paid ?
One to State of NH, the other to County ? This could correlate to big bucks !

Appreciate your feedback !

Bigdog

Slickcraft · 11-25-2009, 06:28 AM

It is a state transfer tax, see:
http://www.nhdeeds.com/belknap/BeTransferTax.html

The buyer and seller each pay $7.50 per thousand.

fatlazyless · 11-25-2009, 07:15 AM

And did you know that at 1.5%, "tax-free" New Hampshire has the highest real estate transfer tax amoung all 50 states!

Buyer and seller both pay 0.75%, and no, there's no sign at the Mass-NH state line announcing: Welcome to N.H. - Highest R E Transfer Tax in the U.S.A. Au Bienvenue!!

Yosemite Sam · 11-25-2009, 08:06 AM

Quote:

Originally Posted by fatlazyless

And did you know that at 1.5%, "tax-free" New Hampshire has the highest real estate transfer tax amoung all 50 states!

Buyer and seller both pay 0.75%, and no, there's no sign at the Mass-NH state line announcing: Welcome to N.H. - Highest R E Transfer Tax in the U.S.A. Au Bienvenue!!

What does Delaware have for a R E Transfer Tax?

wifi · 11-25-2009, 08:18 AM

HERE is a nice nationwide table. Looks like someone has been posting made up information (again)

(Check out Pensy !!!)

bigdog · 11-25-2009, 08:21 AM

Thanks for the clairification on Transfer Tax and who pays !

Thought I was going to carry the entire burden as the 'Buyer' ! Saved a few bucks there to put towards the new boat !

N.H. may have one of the highest Transfer taxes in the country, but it's still one of the greatest places to live !

And cheapest, so far..... These alone saves one thousands pre year !
No Sales Tax
No Income Tax

Does NH have a State 'Inheritance' tax ?

Bigdog

SumoDog · 11-25-2009, 08:33 AM

Well you have been fooled by the so called NH advantage - no income tax - that is a lie - if you are single and earn more than $2,400 in interest and dividends you pay 5% - I consider interest and dividends income. Also effective this year - you go to Foxwoods and hit a $10,000 slot - State of NH will take 10% of your winnings - and to top it off - you can not offset any gambling losses against this income - so if you lost the $10,000 the next nite - Nh would still take 10% in taxes from you. On the business side - you pay a .75% enterprise tax based on payroll paid, interest paid and dividends paid, you pay a 8.5% business profits tax and effective this year (under certain conditions) LLC's and partnerships may pay up to 13.5% in taxes - do not quote me (but I know I am pretty close) when it comes to business taxes NH rates 47th out of the 50 states - so what advantage do we really have?

wifi · 11-25-2009, 08:39 AM

Quote:

Originally Posted by SumoDog

.... so what advantage do we really have?

Well, for one thing, we don't have town dental coverage forced on us taxpayers..... yet

tis · 11-25-2009, 08:41 AM

You are so right, Sumodog. I think about that every time I hear NH doesn't have an income tax.

Just Sold · 11-25-2009, 12:04 PM

NH State Property Transfer tax is paid at the closing. The closing attorney shows the charge on the HUD settlement paperwork. It is $15.00 per $1000.00 of sale price of the property. This is split 50/50 between buyer and seller.

ie. $100,000 sale price - $15.00 x 100 = $1500 / 2 = $750.00 ea for buyer and seller. In MA it is the seller who pays the tranfer tax.

bigdog · 11-25-2009, 03:03 PM

Thanks everyone for the great feedback, much aprecaited !
Always good thing, going into a business transaction with the facts.
'Knowledge is Power' !

Still think NH is one of the best States to live in the N.E., all depends how you place your priority on things......

SumoDog, I understand and respect your opinion !
ANY form of taxes hurts the small business owner ! Bad all-around.

In my case:
#1 - I don't gamble, so the State cannot take something from nothing !
#2 - Invest in Tax Exempt Muni Bonds-No Fed Taxes, maybe no State taxes?
#3 - Employed by a Forune 100 company - They take upon all costs for me

Thanks, and have a great Thanksgiving everyone !
Bigdog

Slickcraft · 11-25-2009, 03:36 PM

Quote:

Originally Posted by bigdog

#2 - Invest in Tax Exempt Muni Bonds-No Fed Taxes, maybe no State taxes?

There is no NH state tax on NH issue Muni Bonds. There are other exceptions to the 5% tax as well including direct obligations of the US Government.

jrc · 11-25-2009, 04:38 PM

Check with your tax advisor, I think Puerto Rico bonds are tax exempt in NH.

You can also invest in growth stocks, no dividends, no NH taxes.

SumoDog · 11-25-2009, 08:33 PM

JRC makes a good point - some things are not taxable to NH - please remember for federal tax purposes the mutual fund companies report short term capital gains as ordinary dividends - these short term capital gains are not taxable by NH - be sure to provide your local CPA the proper information so that he/she can segragate your s/t capital gains from taxation to NH - feel free to contact me if you are confused - I am a local tax practioner - do not pay NH any more than you have to

Rattlesnake Guy · 11-25-2009, 09:15 PM

Don't forget...the transfer stamps are tax deductible on your federal return.

lawn psycho · 11-28-2009, 05:27 PM

Rattlesnake has a great point about the deduction. I've lived in NH (also a UNH grad) and currently live in Maine where you get bent over and stuffed with a splintered log.

Sales tax - not deductible
Income tax
Tolls - if you live or work in Southern Maine and pay tolls, you know what I'm talking about. Also not deductible. My family pays over $600 in tolls per year!!
Transfer tax - yep, Maine has that too

If you doubled my property taxes (which are already high in Maine) and took away the sales and income tax, I'd be waaaay further ahead.

I hope NH never falls victim to the income tax or sales tax.

BroadHopper · 11-28-2009, 06:44 PM

Quote:

Originally Posted by Just Sold

NH State Property Transfer tax is paid at the closing. The closing attorney shows the charge on the HUD settlement paperwork. It is $15.00 per $1000.00 of sale price of the property. This is split 50/50 between buyer and seller.

ie. $100,000 sale price - $15.00 x 100 = $1500 / 2 = $750.00 ea for buyer and seller. In MA it is the seller who pays the tranfer tax.

The tax is $15.00 per thousand. but I had to pay the full amount.

My mother willed the condo to me and even tho it is an inheritance or gift, I had to pay the transfer tax along with the inheritance tax. I had to take out a home equity loan to take care of it.

Grant · 11-28-2009, 07:07 PM

Cry me a river. I live in Pennsylvania. Insane. Otherwise, our taxes are reasonable (consider neighboring NJ's real estate taxes, for example). But 4% transfer is insane...yet no one gripes about it down here. We're sheep.

fatlazyless · 12-05-2009, 09:00 AM

MVP = Most Valuable Property, and that's what just got sold at 50-60 Wagon Wheel Trail in Meredith. Drove past yeserday and the "Pending" sign has been changed to a "Sold" sign. Now, there is three different realty sign posts, along with the names of three different sales people, all from the same office, who apparantly all get a piece of the commission pie.

What is missing is a sign for the State of NH, R E Transfer Tax......at 9.47 acres - $3,802,100 assessed, $4,950,000 asking....the State deserves their own sign sporting a big 1 1/2%.....at least a crayon & cardboard sign for the State..

While real estate sales is probably at least a little bit competative, the State of NH is automatically a big winner.....for each & every sale!

50-60 Wagon Wheel could get built into the single most expensive property in Meredith.....will be a good one to watch from the water.....just outside the Meredith Bay no-wake zone and it sure looks like it wll be a tear-down..but only time will tell....the two-bay, medieval english tudor boathouse is already built...

With a stone & wrought iron fence like that already built, the new big house really needs to be a BIG HOUSE!

Lucky1 · 12-05-2009, 09:28 AM

[QUOTE=wifi;112979]HERE is a nice nationwide table. Looks like someone has been posting made up information (again)

(Check out Pensy !!!)[/QUOT

Not sure on how I should be reading this. Am I looking at a transfer of the same amount in the different states? I bookmarked the table and only glanced at it briefly as I am off to the yard before the snow.

Guess it is true that in New England if you do not like the weather, "Wait a minute!" It was so beautiful Thursday and Friday and now it is to be SNOW!

Ironfish · 12-05-2009, 10:52 AM

Quote:

Originally Posted by fatlazyless

MVP = Most Valuable Property, and that's what just got sold at 50-60 Wagon Wheel Trail in Meredith!

$7,800,000 sale of both lots, based upon $117,000 in tax stamps shown on the deed .... a LOT of money for a boathouse, a fence, and a piece of waterfront land.

fatlazyless · 12-05-2009, 06:53 PM

$117,000 for the State of NH....way-to-go NH!...what a deal....was it a difficult deal for the state to negotiate....$117,000 r e transfer tax!

Sooner or later, the info on the new owner and what's planned for the property will be leaking out....should be a good one to window shop from the water....anyone want to be the first gossip leak?

Is their last name Woods....as in Tiger? He could swing at that place or go practice at www.waukewan.com.
.......

If the new owner purchases land across the road, increasing the property to more than 10 acres, could he be successfull having it zoned as 'common use'? Is that a real possibility or just floatsum & jetsum?

Just Sold · 12-06-2009, 10:53 AM

The new owner is L. Lakehouse, LLC a Delaware Limited Liability Company. Book: 2611, Page 0039 recorded at Belknap County Registry of Deeds

Their mailing address is in Stamford, CT but I found no other information on them in an internet search.

oliviernh · 12-07-2009, 11:02 AM

Sorry Rattlesnake Guy...transfer/stamp taxes are not deductible on your federal return. If you are the seller the transfer taxes reduce the proceeds from the sale and if you are the buyer they add to your cost basis of the property. I think this is correct unless something has changed recently.

dpg · 12-07-2009, 11:49 AM

Quote:

Originally Posted by Ironfish

$7,800,000 sale of both lots, based upon $117,000 in tax stamps shown on the deed .... a LOT of money for a boathouse, a fence, and a piece of waterfront land.

If I were spending that kind of money it wouldn't be in NH. It would be on a sun drenched, ocean front monster home in the Caribbean somewhere.

Just Sold · 12-07-2009, 04:26 PM

FLL: "MVP = Most Valuable Property, and that's what just got sold at 50-60 Wagon Wheel Trail in Meredith."

This property sold with the 2 lots on one deed. One lot with this new boat house

and the other lot had this 2 bedroom existing house on it.

fatlazyless · 12-07-2009, 07:21 PM

It is located across Meredith Bay from the town docks, and just out beyond the no-wake zone. It has a point of land in the middle of its' long waterfront and faces westerly. A number a flat black & white speckled granite ledges sort of roll out from the shoreline and out under the shallow and sandy bottom.

The existing two-bedroom house looks like a very nice 1960's ranch but not anything like the huge homes that get built today.

Wagon Wheel Trail is a very nice unpaved, sand & gravel town road.

Wonder what will be done there and how many feet of waterfront the lot has?

Rattlesnake Guy · 12-07-2009, 08:11 PM

Quote:

Originally Posted by oliviernh

Sorry Rattlesnake Guy...transfer/stamp taxes are not deductible on your federal return. If you are the seller the transfer taxes reduce the proceeds from the sale and if you are the buyer they add to your cost basis of the property. I think this is correct unless something has changed recently.

I stand corrected. After rechecking the IRS document, you are correct.

Reinforces the old axiom, never accept tax advice from a lakes region forum member.

Just Sold · 12-08-2009, 10:25 AM

Quote:

Originally Posted by fatlazyless

It is located across Meredith Bay from the town docks, and just out beyond the no-wake zone. It has a point of land in the middle of its' long waterfront and faces westerly. A number a flat black & white speckled granite ledges sort of roll out from the shoreline and out under the shallow and sandy bottom.

The existing two-bedroom house looks like a very nice 1960's ranch but not anything like the huge homes that get built today.

Wagon Wheel Trail is a very nice unpaved, sand & gravel town road.

Wonder what will be done there and how many feet of waterfront the lot has?

The plan that shows that one lot has 650 ft and the other has 794.65 ft of water frontage. The plan can be seen at http://nhdeeds.com/belknap/BeIndex.html It is Plan Drawer L66 and Plan 11.
The plan shows the property to be out past the No-Wake Zone from what I see. The point is on the lot with the boat house.

fatlazyless · 12-09-2009, 09:13 AM

At a purchase price of about 8-mll for about 8 acres, all with waterfront, maybe the new owner wlll try to build 8 seperate residential homes and sell each one for 3 million, or something.

1554' of waterfront divided by eight lots = approx 195'/ new lot, and the shape of the entire lot land is probably very good for that type of developement. The 10-year old stone & iron fence which surrounds all three sides is like the most attractive fence ever built in the history of the world: A castle in Disneyland type of a fence!

The Town of Meredith being totally hooked on its' property tax revenue stream is more than happy to approve any and all waterfront construction. More waterfront homes means more property tax money for the town, every year going forward. Also, it creates many construction jobs that pay good.

Like, what's not to like with this happening? WIll the town approve this? Does it snow in the winter time?

Seems like a plan....guess, guess, guess?

Rattlesnake Guy · 12-09-2009, 05:55 PM

What do you call a town with $30 million in vacation homes without kids in the schools?

Relieved.

fatlazyless · 01-05-2010, 09:50 PM

According to a news brief in today's Jan 5 Citizen, the 7.8 million dollar sale in Meredith conducted by Roche Realty was the SINGLE LARGEST RESIDENTIAL SALE in the history of Lake Winnipesaukee. Did the NH Dept of Revenue send the buyer and seller a thankyou card

for their 1 1/2% real estate transfer tax?

It will no doubt be interesting to see what happens to the aproximately eight acres of land that's surrounded on all three sides by an "Alice in Wonderland" stone & iron fence. Will it be a single single, multiple singles, condos, or a rental-storage facility called the 'Ace of Waterfront Space'?

11-25-2009, 08:21 AM	#6
bigdog Senior Member Join Date: Apr 2006 Location: Central MA-Gilford Posts: 1,411 Thanks: 308 Thanked 117 Times in 94 Posts	Transfer Tax on Real Estate Thanks for the clairification on Transfer Tax and who pays ! Thought I was going to carry the entire burden as the 'Buyer' ! Saved a few bucks there to put towards the new boat ! N.H. may have one of the highest Transfer taxes in the country, but it's still one of the greatest places to live ! And cheapest, so far..... These alone saves one thousands pre year ! No Sales Tax No Income Tax Does NH have a State 'Inheritance' tax ? Bigdog

11-25-2009, 08:33 AM	#7
SumoDog Member Join Date: May 2009 Posts: 22 Thanks: 0 Thanked 4 Times in 3 Posts	State is Lying Well you have been fooled by the so called NH advantage - no income tax - that is a lie - if you are single and earn more than $2,400 in interest and dividends you pay 5% - I consider interest and dividends income. Also effective this year - you go to Foxwoods and hit a $10,000 slot - State of NH will take 10% of your winnings - and to top it off - you can not offset any gambling losses against this income - so if you lost the $10,000 the next nite - Nh would still take 10% in taxes from you. On the business side - you pay a .75% enterprise tax based on payroll paid, interest paid and dividends paid, you pay a 8.5% business profits tax and effective this year (under certain conditions) LLC's and partnerships may pay up to 13.5% in taxes - do not quote me (but I know I am pretty close) when it comes to business taxes NH rates 47th out of the 50 states - so what advantage do we really have?

11-25-2009, 12:04 PM	#10
Just Sold Senior Member Join Date: Apr 2004 Location: Suncook, NH, but at The Lake at Heart Posts: 2,612 Thanks: 1,082 Thanked 433 Times in 209 Posts	NH State Property Transfer tax is paid at the closing. The closing attorney shows the charge on the HUD settlement paperwork. It is $15.00 per $1000.00 of sale price of the property. This is split 50/50 between buyer and seller. ie. $100,000 sale price - $15.00 x 100 = $1500 / 2 = $750.00 ea for buyer and seller. In MA it is the seller who pays the tranfer tax. __________________ Just Sold At the lake the stress of daily life just melts away. Pro Re Nata

11-25-2009, 03:03 PM	#11
bigdog Senior Member Join Date: Apr 2006 Location: Central MA-Gilford Posts: 1,411 Thanks: 308 Thanked 117 Times in 94 Posts	Transfer Tax on Real Estate Thanks everyone for the great feedback, much aprecaited ! Always good thing, going into a business transaction with the facts. 'Knowledge is Power' ! Still think NH is one of the best States to live in the N.E., all depends how you place your priority on things...... SumoDog, I understand and respect your opinion ! ANY form of taxes hurts the small business owner ! Bad all-around. In my case: #1 - I don't gamble, so the State cannot take something from nothing ! #2 - Invest in Tax Exempt Muni Bonds-No Fed Taxes, maybe no State taxes? #3 - Employed by a Forune 100 company - They take upon all costs for me Thanks, and have a great Thanksgiving everyone ! Bigdog Last edited by bigdog; 11-25-2009 at 03:04 PM. Reason: spelling

11-25-2009, 08:33 PM	#14
SumoDog Member Join Date: May 2009 Posts: 22 Thanks: 0 Thanked 4 Times in 3 Posts	JRC Post JRC makes a good point - some things are not taxable to NH - please remember for federal tax purposes the mutual fund companies report short term capital gains as ordinary dividends - these short term capital gains are not taxable by NH - be sure to provide your local CPA the proper information so that he/she can segragate your s/t capital gains from taxation to NH - feel free to contact me if you are confused - I am a local tax practioner - do not pay NH any more than you have to

11-24-2009, 10:27 PM	#1
bigdog Senior Member Join Date: Apr 2006 Location: Central MA-Gilford Posts: 1,411 Thanks: 308 Thanked 117 Times in 94 Posts	Transfer Tax on Real Estate Need some clarity from the Forum about the Real Estate 'Transfer Tax' paid in N.H. at time of R.E. purchase/Closing..... I understand that there is a Real Estate 'Transfer' tax in Gilford, or paid to County. Gilford Tax Collector told me that was $15. per thousand of purchase price. Is this paid to Gilfor or the Belknap County? Well..... My mortgage banker (this is a major US bank), indicated to me that this is a 'State' Transfer tax paid, and it was based on a percetage of purchase price. Now I'm really confused? Me thinks, Someone is giving me bad information ? My question: Are there two 'Transfer Taxes' which must be paid ? One to State of NH, the other to County ? This could correlate to big bucks ! Appreciate your feedback ! Bigdog

11-25-2009, 06:28 AM	#2
Slickcraft Senior Member Join Date: Mar 2008 Location: Welch Island and West Alton Posts: 3,219 Thanks: 1,175 Thanked 2,002 Times in 915 Posts	It is a state transfer tax, see: http://www.nhdeeds.com/belknap/BeTransferTax.html The buyer and seller each pay $7.50 per thousand.

11-25-2009, 07:15 AM	#3
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	And did you know that at 1.5%, "tax-free" New Hampshire has the highest real estate transfer tax amoung all 50 states! Buyer and seller both pay 0.75%, and no, there's no sign at the Mass-NH state line announcing: Welcome to N.H. - Highest R E Transfer Tax in the U.S.A. Au Bienvenue!! __________________ ... down and out, liv'n that Walmart side of the lake!

11-25-2009, 08:18 AM	#5
wifi Senior Member Join Date: Jul 2007 Location: Lakes Region Posts: 1,321 Thanks: 282 Thanked 287 Times in 169 Posts	HERE is a nice nationwide table. Looks like someone has been posting made up information (again) (Check out Pensy !!!)

11-25-2009, 08:41 AM	#9
tis Senior Member Join Date: Jan 2006 Posts: 6,411 Thanks: 720 Thanked 1,381 Times in 957 Posts	You are so right, Sumodog. I think about that every time I hear NH doesn't have an income tax.

11-25-2009, 04:38 PM	#13
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	Check with your tax advisor, I think Puerto Rico bonds are tax exempt in NH. You can also invest in growth stocks, no dividends, no NH taxes.

11-25-2009, 09:15 PM	#15
Rattlesnake Guy Senior Member Join Date: Sep 2004 Posts: 1,254 Thanks: 423 Thanked 366 Times in 175 Posts	Don't forget...the transfer stamps are tax deductible on your federal return.

11-28-2009, 05:27 PM	#16
lawn psycho Senior Member Join Date: Jul 2009 Location: On the move... Posts: 987 Thanks: 113 Thanked 248 Times in 133 Posts	NH does have lower tax burden Rattlesnake has a great point about the deduction. I've lived in NH (also a UNH grad) and currently live in Maine where you get bent over and stuffed with a splintered log. Sales tax - not deductible Income tax Tolls - if you live or work in Southern Maine and pay tolls, you know what I'm talking about. Also not deductible. My family pays over $600 in tolls per year!! Transfer tax - yep, Maine has that too If you doubled my property taxes (which are already high in Maine) and took away the sales and income tax, I'd be waaaay further ahead. I hope NH never falls victim to the income tax or sales tax.

11-28-2009, 07:07 PM	#18
Grant Senior Member Join Date: Jul 2002 Location: Pennsyltuckey, Tuftonboro, Moultonborough Posts: 1,485 Thanks: 337 Thanked 212 Times in 116 Posts	Cry me a river. I live in Pennsylvania. Insane. Otherwise, our taxes are reasonable (consider neighboring NJ's real estate taxes, for example). But 4% transfer is insane...yet no one gripes about it down here. We're sheep. __________________ "When I die, please don't let my wife sell my dive gear for what I told her I paid for it."

12-05-2009, 09:00 AM	#19
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	.......MVP-Meredith property MVP = Most Valuable Property, and that's what just got sold at 50-60 Wagon Wheel Trail in Meredith. Drove past yeserday and the "Pending" sign has been changed to a "Sold" sign. Now, there is three different realty sign posts, along with the names of three different sales people, all from the same office, who apparantly all get a piece of the commission pie. What is missing is a sign for the State of NH, R E Transfer Tax......at 9.47 acres - $3,802,100 assessed, $4,950,000 asking....the State deserves their own sign sporting a big 1 1/2%.....at least a crayon & cardboard sign for the State.. While real estate sales is probably at least a little bit competative, the State of NH is automatically a big winner.....for each & every sale! 50-60 Wagon Wheel could get built into the single most expensive property in Meredith.....will be a good one to watch from the water.....just outside the Meredith Bay no-wake zone and it sure looks like it wll be a tear-down..but only time will tell....the two-bay, medieval english tudor boathouse is already built... With a stone & wrought iron fence like that already built, the new big house really needs to be a BIG HOUSE! __________________ ... down and out, liv'n that Walmart side of the lake!

12-05-2009, 09:28 AM	#20
Lucky1 Senior Member Join Date: Oct 2009 Location: Moultonborough and FL Posts: 459 Thanks: 318 Thanked 123 Times in 53 Posts	HERE link to table [QUOTE=wifi;112979]HERE is a nice nationwide table. Looks like someone has been posting made up information (again) (Check out Pensy !!!)[/QUOT Not sure on how I should be reading this. Am I looking at a transfer of the same amount in the different states? I bookmarked the table and only glanced at it briefly as I am off to the yard before the snow. Guess it is true that in New England if you do not like the weather, "Wait a minute!" It was so beautiful Thursday and Friday and now it is to be SNOW!

12-05-2009, 06:53 PM	#22
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	$117,000 for the State of NH....way-to-go NH!...what a deal....was it a difficult deal for the state to negotiate....$117,000 r e transfer tax! Sooner or later, the info on the new owner and what's planned for the property will be leaking out....should be a good one to window shop from the water....anyone want to be the first gossip leak? Is their last name Woods....as in Tiger? He could swing at that place or go practice at www.waukewan.com. ....... If the new owner purchases land across the road, increasing the property to more than 10 acres, could he be successfull having it zoned as 'common use'? Is that a real possibility or just floatsum & jetsum? __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 12-05-2009 at 07:51 PM.

12-06-2009, 10:53 AM	#23
Just Sold Senior Member Join Date: Apr 2004 Location: Suncook, NH, but at The Lake at Heart Posts: 2,612 Thanks: 1,082 Thanked 433 Times in 209 Posts	50-60 Wagon Wheel Meredith The new owner is L. Lakehouse, LLC a Delaware Limited Liability Company. Book: 2611, Page 0039 recorded at Belknap County Registry of Deeds Their mailing address is in Stamford, CT but I found no other information on them in an internet search. __________________ Just Sold At the lake the stress of daily life just melts away. Pro Re Nata

12-07-2009, 11:02 AM	#24
oliviernh Member Join Date: Sep 2004 Location: Hampton and Rattlesnake Island Posts: 33 Thanks: 0 Thanked 2 Times in 1 Post	Sorry RG-transfer taxes are not deductible Sorry Rattlesnake Guy...transfer/stamp taxes are not deductible on your federal return. If you are the seller the transfer taxes reduce the proceeds from the sale and if you are the buyer they add to your cost basis of the property. I think this is correct unless something has changed recently.

12-07-2009, 07:21 PM	#27
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	It is located across Meredith Bay from the town docks, and just out beyond the no-wake zone. It has a point of land in the middle of its' long waterfront and faces westerly. A number a flat black & white speckled granite ledges sort of roll out from the shoreline and out under the shallow and sandy bottom. The existing two-bedroom house looks like a very nice 1960's ranch but not anything like the huge homes that get built today. Wagon Wheel Trail is a very nice unpaved, sand & gravel town road. Wonder what will be done there and how many feet of waterfront the lot has? __________________ ... down and out, liv'n that Walmart side of the lake!

12-09-2009, 09:13 AM	#30
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	At a purchase price of about 8-mll for about 8 acres, all with waterfront, maybe the new owner wlll try to build 8 seperate residential homes and sell each one for 3 million, or something. 1554' of waterfront divided by eight lots = approx 195'/ new lot, and the shape of the entire lot land is probably very good for that type of developement. The 10-year old stone & iron fence which surrounds all three sides is like the most attractive fence ever built in the history of the world: A castle in Disneyland type of a fence! The Town of Meredith being totally hooked on its' property tax revenue stream is more than happy to approve any and all waterfront construction. More waterfront homes means more property tax money for the town, every year going forward. Also, it creates many construction jobs that pay good. Like, what's not to like with this happening? WIll the town approve this? Does it snow in the winter time? Seems like a plan....guess, guess, guess? __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 12-09-2009 at 09:47 AM.

12-09-2009, 05:55 PM	#31
Rattlesnake Guy Senior Member Join Date: Sep 2004 Posts: 1,254 Thanks: 423 Thanked 366 Times in 175 Posts	What do you call a town with $30 million in vacation homes without kids in the schools? Relieved.

01-05-2010, 09:50 PM	#32
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,528 Blog Entries: 1 Thanks: 296 Thanked 957 Times in 698 Posts	According to a news brief in today's Jan 5 Citizen, the 7.8 million dollar sale in Meredith conducted by Roche Realty was the SINGLE LARGEST RESIDENTIAL SALE in the history of Lake Winnipesaukee. Did the NH Dept of Revenue send the buyer and seller a thankyou card for their 1 1/2% real estate transfer tax? It will no doubt be interesting to see what happens to the aproximately eight acres of land that's surrounded on all three sides by an "Alice in Wonderland" stone & iron fence. Will it be a single single, multiple singles, condos, or a rental-storage facility called the 'Ace of Waterfront Space'? __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 01-06-2010 at 08:07 AM.