Main Street in Hanover. Photo: Ken Gallager
Hanover was ranked as the most tax friendly place in NH for retirees in Smart Asset's third annual Retirement Tax Friendliness study. The town was also ranked 20th among all U.S. cities and towns included in the study.
The study ranks locations on a Retirement Tax Friendliness Index, which takes into account property, income, fuel, sales and Social Security tax data.
The Granite State performed well overall. Half of NH's top 10 tax-friendly places ranked in the top 100 nationally, including Portsmouth (36), Hampton (50), Hudson (61), Laconia (69) and Nashua (82).
In the table below you can see which cities lead NH in retirement tax friendliness.
|
Rank |
City |
Income Tax Paid |
Property Tax Rate |
Sales Tax Paid |
Fuel Tax Paid |
Social Security Taxed? |
Retirement Tax Friendliness Index |
|
1 |
Hanover |
$5,146 |
1.72% |
$0 |
$126 |
Not Taxed |
87.17 |
|
2 |
Portsmouth |
$5,146 |
1.63% |
$0 |
$384 |
Not Taxed |
82.37 |
|
3 |
Hampton |
$5,146 |
1.69% |
$0 |
$397 |
Not Taxed |
81.30 |
|
4 |
Hudson |
$5,146 |
1.85% |
$0 |
$375 |
Not Taxed |
79.97 |
|
5 |
Laconia |
$5,146 |
2.04% |
$0 |
$339 |
Not Taxed |
78.47 |
|
6 |
Nashua |
$5,146 |
2.11% |
$0 |
$367 |
Not Taxed |
76.99 |
|
7 |
Manchester |
$5,146 |
2.21% |
$0 |
$366 |
Not Taxed |
75.80 |
|
8 |
Londonderry |
$5,146 |
2.17% |
$0 |
$393 |
Not Taxed |
75.74 |
|
9 |
Franklin |
$5,146 |
2.32% |
$0 |
$316 |
Not Taxed |
75.64 |
|
10 |
South Hooksett |
$5,146 |
2.26% |
$0 |
$394 |
Not Taxed |
74.54 |
Current Issue - May 2024