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Originally Posted by PineappleXpres
(Post 3868844)
Not in Property tax, Home owners insurance, car insurance, sales tax, toll fees/car registration, and health care insurance gaps. That’s mostly in reference to FL. Commuting costs thanks to delayed upgrade, missed premium, redundancies (beater car, crash pad, extra eating out), and more time missed at home for the actual commute will all result in a net loss over the 3.5% income tax. The spreadsheet doesn’t lie.
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Originally Posted by FangsF15
(Post 3868846)
My thoughts exactly. They get you one way or another.
Move from VA to NJ. My property tax, on my house went up. That's it. Everything else went down. Income tax, effective rate lower (not by much, but 5.6% vs 5.85%) Property tax on the house, about double as a percentage. ($6k on a house that I sold for $600k, NJ $20k on a $1.1M house) Not paying $10,000 in taxes on vehicles I already paid tax on when I bought them. City of VA Beach was getting $5000 for my pickup, $2800 for my wife's Expedition, $1100 for my airport beater (25 year old pickup), $1500 for my camper, $300 for one motorcycle, $400 for another motorcyle. I'm actually paying about $1145 a year less in taxes, in total here in NJ. But I have a much larger, much nicer house, on 9 acres vs my 1400sqft 3/2 brick ranch on 1/4 acre. If I had gotten a comparable house, it would have been far cheaper. And yeah, TX really gets you on property taxes. I've had more than a few friends/relative go there, buy something, then start freaking out because the ISD, MUD and other taxes go up as neighborhoods get built out. |
Originally Posted by CX500T
(Post 3868861)
And some states you think would be cheaper, aren't.
Move from VA to NJ. My property tax, on my house went up. That's it. Everything else went down. Income tax, effective rate lower (not by much, but 5.6% vs 5.85%) Property tax on the house, about double as a percentage. ($6k on a house that I sold for $600k, NJ $20k on a $1.1M house) Not paying $10,000 in taxes on vehicles I already paid tax on when I bought them. City of VA Beach was getting $5000 for my pickup, $2800 for my wife's Expedition, $1100 for my airport beater (25 year old pickup), $1500 for my camper, $300 for one motorcycle, $400 for another motorcyle. I'm actually paying about $1145 a year less in taxes, in total here in NJ. But I have a much larger, much nicer house, on 9 acres vs my 1400sqft 3/2 brick ranch on 1/4 acre. If I had gotten a comparable house, it would have been far cheaper. And yeah, TX really gets you on property taxes. I've had more than a few friends/relative go there, buy something, then start freaking out because the ISD, MUD and other taxes go up as neighborhoods get built out. however I can guarantee you that ones yearly difference will be entirely covered by a last minute 2 day captain GS which one will be able to do because they’re not a commuter and are living in a “high tax” domicile and can drive a couple hours to work. |
Originally Posted by PineappleXpres
(Post 3868844)
Not in Property tax, Home owners insurance, car insurance, sales tax, toll fees/car registration, and health care insurance gaps. That’s mostly in reference to FL. Commuting costs thanks to delayed upgrade, missed premium, redundancies (beater car, crash pad, extra eating out), and more time missed at home for the actual commute will all result in a net loss over the 3.5% income tax. The spreadsheet doesn’t lie.
I’ve lived in Texas and annual savings were underwhelming in certain categories. Even got priced out of buying a house due to property taxes being so high there. |
Originally Posted by Dynamiterabbit
(Post 3868765)
Ohio has one of the lowest top marginal tax rates in the country (3.5%). Are there other taxes you’re talking about? (I’m not from Ohio, just curious)
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Originally Posted by Extenda
(Post 3868878)
yeah people tend to point to state income tax as the be all end all. It gets complicated when you start trying to figure out your total tax burden. The state will get their pound of flesh,
however I can guarantee you that ones yearly difference will be entirely covered by a last minute 2 day captain GS which one will be able to do because they’re not a commuter and are living in a “high tax” domicile and can drive a couple hours to work. |
Originally Posted by SoFloFlyer
(Post 3868943)
Can’t speak to a resell, but I bought a new construction and insurance is about $1100/yr on a 1750 sq ft 3/2.5 home. Property taxes is about $3500/yr. As far as tolls, it’s negligible depending where you live. Maybe $50/yr for the average person? Car registration isn’t terrible. About $70 for 2 year expiration. Car insurance is heavily dependent where you live in the state. Not sure where FL stacks up against other states tho. I know TX was cheaper in this regard, but that’s about it for me.
I’ve lived in Texas and annual savings were underwhelming in certain categories. Even got priced out of buying a house due to property taxes being so high there. |
Originally Posted by checkgear
(Post 3869082)
Are you northern FL? That house insurance is cheap cheap!
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Originally Posted by checkgear
(Post 3869082)
Are you northern FL? That house insurance is cheap cheap!
I loved living there and embrace being a true Florida man, but it's lost almost everything that made it a great place to live outside of a few areas in the panhandle and big bend. As far as taxes go, though, I don't think you can beat living there. No income tax, sales tax is comparable to most other areas, and property tax is within the norm. You kind of get what you pay for though, especially in central, west, and south Florida where it has become so overcrowded it's insane and infrastructure, schools, and services just haven't grown to meet the demand. |
Originally Posted by SoFloFlyer
(Post 3869100)
It’s in the Central Florida area, I was shocked too! Heard some nightmare stories regarding insurance. I’m definitely lucky
I’m a little jealous haha… |
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