Quote:
Originally Posted by longislander
In NH, 10 acres and more, can be taxed at a reduced rate, if declared "current Use"; Google it.
An additional reduction, if declared recreational use, in current use; e.g., letting snowmobilers go thru the property, etc.
You can restrict motorized vehicles and still claim current use with the low tax rate.
Actual Example for "current use":
Bought three years ago, 34 acres in Moultonborough that was in "current use" and annual town property tax was $24; not a typo ... twenty four dollars per year for 34 acres on land.
Took out of current use, a little under 2 acres for new-build house and driveway from the 34 acres. Was Taxed 10% of the assessed value of the just under 2 acres, and the rest on the property was still current use with very low tax rate.
On-going tax rate reflects just under 2 acres at regular assessed tax rate and balance of the 34 acres tax at the low current use rate.
Anyone with ten or more acres of vacant land should be looking at "current use", to pay a very reduced annual town tax.
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Current Use II - Recreational only requires access for hunting, fishing, and scouting. It does not require access for any other reason... nor does it require all three items to be met on an open access basis.
For an investment property with a quick turn for maximum ROI, it doesn't make much sense. The math simply does not add up.