Florida gets by with high property taxes and incredibly high soak the visiting tourist taxes!

 

I've had this conversation with several people I've flown with recently, as I live in what would be considered a high-tax state.

If you're going to look at your paystub and get ****ed every time you see that state tax line, then you have to move. Life is too short to deal with that.

But, make sure you consider all the costs. Driving/commute costs, distance from family and friends, ability to pick up extra trips and/or SRM trips -- each of these can and will be worth more than the little difference you pay in state taxes.

Every state has taxes, and it stands to reason that every state will tax us more in the future, either by increased tax rates or the simple fact that we will probably make more per hour in the future than we do now. You can either accept it as a trade-off that enables your current lifestyle, or perpetually chase the low bidder.

 

This. If taxes are a big part of your concern, the Northeast isn’t for you.

 

I’ve always thought of it like you are able to pick your tax burden. Property taxes may be higher, but you get to decide what you’ll pay based on your purchase price.

A lot of states have a high income tax and high property taxes. I’m not sure what they get for that privilege. I’ve lived all over and, other than scenery, most states are the same.

 

Right now? Yes. When the Illinois pension crisis really hits? No way. It will be like a collapsing soap bubble as current budgets are eaten alive by the long deferred obligations and declining services progressively force out those who are not too poor to move. Even now legacy pension costs are accounting for 25% of the tax revenue being brought in by many locales.

There is a reason that Illinois municipal bonds are the lowest rated if any state.

https://www.forbes.com/sites/ebauer/.../#23ee1f1e3b2b

 

I always love this argument. “Hey you can be gone more and work more to pay for the luxury!”

SOCAL? Maybe. ORD? Nothing luxurious about it.

PS, look at the property taxes on top of everything else. My brother left two years ago when his property tax bill surpassed his mortgage, which after 15 years he sold for a $250k loss.

 

To which cheaper domicile are you planning on moving?

 

if it’s IAH.....better prepare for some serious buyer’s remorse. There’s a REASON it’s so cheap down here.

 

Seriously a lot of guys either love or hate Houston. I don't know why. Guys complain about the heat but the same people often think places like Tampa are nice. I sometimes regret not settling down in a gorgeous $400,000 new construction in the Woodlands instead of moving West and paying up the wazoo for a small house, taxes, crappy schools, etc. Yeah the weather and scenery are great but with kids and life, we don't get to enjoy it as much as we should.

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I don't see the wisdom in coming to pilots for relationship/financial advice. I would give her two possibilities stay here and live below your means on a budget with all that entails or move and have more disposable income. No new car every 5 years, less vacations, no cleaning service... vs move and those things are possible. If you have a budget with shared financial goals ironed out ahead of time it would solve a lot of these problems. I would recommend some relationship counseling to get the spending issue at least to an amicable middle ground. $400,000 compounded out is a lot of money but there is also a lot more important things to worry about. The difference in your standard of living at 65 with 3,000,000 +/- 400,000 isn't worth being miserable in all the years leading up to it. There has to be some middle ground.