Ratte Law Office » Real Estate http://rattelaw.com Small Business and Real Estate Law for New Hampshire and Maine Wed, 14 Jul 2010 15:04:14 +0000 http://wordpress.org/?v=2.9 en hourly 1 Lower Your NH Property Taxes with an Abatement http://rattelaw.com/2009/11/12/lower-your-nh-property-taxes-with-an-abatement/ http://rattelaw.com/2009/11/12/lower-your-nh-property-taxes-with-an-abatement/#comments Thu, 12 Nov 2009 16:03:13 +0000 admin http://rattelaw.com/?p=322
  • NH Retailers Not Required to Enforce Sales or Use Tax Collection for States Outside NH
  • Down to the Wire; Last Days to Qualify for the Home Buyer Tax Credit
  • TIMING IS EVERYTHING: First-Time Home Buyer Tax Credit Increased for 2009.
    • ]]>     A tax abatement may save you money on property taxes.

    A tax abatement may save you money on property taxes.

    If you are like most people, you probably think you are paying too much in property taxes. In some cases, you may be right.

    Property taxes in New Hampshire are based on the assessed value of your real estate as of April 1st of each year. If your assessment is incorrect, then you may in fact be paying more than your share of property taxes.

    An assessment may be incorrect due to a number of reasons, such as the information used by the assessor may have been incorrect (i.e. you actually have 3 bedrooms instead of 4), or the assessment is substantially higher than the equalized market value of the property. The market value of real estate may be determined by having the property appraised by a licensed appraiser or by comparing it with local comparable properties which have sold recently.

    To change the assessment of your property, you must file a request for an abatement with your city or town by March 1st (in most locations). If the municipality denies the abatement request or fails to respond by July 1st, which is the same as a denial, then you have until September 1st to file an appeal with the Superior Court or the Board of Land and Tax Appeals. To win the appeal, you must prove through appraisals or other evidence that your taxes are unfair, illegal or disproportionately high.

    You must continue paying your property taxes during the abatement process, but if the abatement is granted then you will receive a tax refund plus 6% interest. In addition, the new lower assessment amount will then continue for future tax years until there is a good faith reason to reassess the property (such as changes to the property or a town-wide reassessment).

    For more information on how a tax abatement can save you money on property taxes, please contact Attorney Chris Ratté.

    NOTICE: The information and articles posted on this website are for informational purposes only and are not intended as legal advice. Contact me to discuss your particular situation or consult a licensed attorney in your state.

    Related posts:

    1. NH Retailers Not Required to Enforce Sales or Use Tax Collection for States Outside NH
    2. Down to the Wire; Last Days to Qualify for the Home Buyer Tax Credit
    3. TIMING IS EVERYTHING: First-Time Home Buyer Tax Credit Increased for 2009.

    ]]>     http://rattelaw.com/2009/11/12/lower-your-nh-property-taxes-with-an-abatement/feed/ 0     OWNER’S TITLE INSURANCE; Quite possibly the best money you’ll ever spend. http://rattelaw.com/2009/04/29/owner%e2%80%99s-title-insurance-quite-possibly-the-best-money-you%e2%80%99ll-ever-spend/ http://rattelaw.com/2009/04/29/owner%e2%80%99s-title-insurance-quite-possibly-the-best-money-you%e2%80%99ll-ever-spend/#comments Wed, 29 Apr 2009 16:33:35 +0000 admin http://rattelaw.com/?p=68
  • TIMING IS EVERYTHING: First-Time Home Buyer Tax Credit Increased for 2009.
  • First-Time Home Buyer Tax Credit Extended
  • Closing Deadline Extended to September 30th for Home Buyer Tax Credit
    • ]]>     constructionFor most of us, buying a home is the largest and most important investment we will ever make in our lives. We will spend hundreds, even thousands, of dollars each and every year to protect our house and furnishings from fire and other disasters, but many people are reluctant to pay a small one-time fee to protect the most valuable part of home ownership – the ownership itself. An owner’s title insurance policy is a relatively inexpensive one-time cost that will do just that.

    Owner’s title insurance protects the homeowner’s title, or legal ownership, of the property free from any unknown encumbrances. An encumbrance is anything that burdens the property, such as a lien or easement. While most encumbrances will be discovered during a thorough search of the public records at the local Registry of Deeds, many encumbrances cannot be determined by a title search. A few of the most common hidden risks that can cause loss of title or create an encumbrance on title are:

    • False impersonation of the true owner of the property
    • Forged deeds, releases or wills
    • Undisclosed or missing heirs
    • Instruments executed under invalid or expired power of attorney
    • Mistakes in recording legal documents
    • Misinterpretations of wills
    • Deeds by persons of unsound mind
    • Deeds by minors
    • Deeds by persons supposedly single, but in fact married
    • Liens for unpaid estate, inheritance, income or gift taxes
    • Fraud

    In the case of any defect such as these, the owner’s title insurance will pay for defending against any lawsuit attacking the owner’s title, and will either pay to clear up the title problems or pay the insured owner’s losses. The cost of an owner’s title insurance policy for an average home of $250,000, is only about $575. Compare that to the thousands, or tens of thousands, of dollars it will cost to hire an attorney to defend you in a lawsuit or repair the title defect, and it is easy to see why title insurance could be the best money you’ve ever spent in your life.

    For a free consultation to learn more about owner’s title insurance, contact Attorney Chris Ratté.

    Helpful reading:

    Related posts:

    1. TIMING IS EVERYTHING: First-Time Home Buyer Tax Credit Increased for 2009.
    2. First-Time Home Buyer Tax Credit Extended
    3. Closing Deadline Extended to September 30th for Home Buyer Tax Credit

    ]]>     http://rattelaw.com/2009/04/29/owner%e2%80%99s-title-insurance-quite-possibly-the-best-money-you%e2%80%99ll-ever-spend/feed/ 0