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New state budget banks heavily on NH real estate sales - NH Business Review
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New state budget banks heavily on NH real estate sales - NH Business Review
The new state budget is banking on future New Hampshire real estate sales. A key source of revenue for the state is the Real Estate Transfer Tax (RETT), imposed on both the buyer and seller at a rate of 75 cents per $100 of the selling price. For example, a $550,000 sale would generate $4,125 in taxes, shared by the parties in the transaction. The current two-year state budget, which finishes up on June 30, raised about $380 million in revenue f…
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