U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Idaho > Boise area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-16-2010, 11:49 AM
 
692 posts, read 2,793,544 times
Reputation: 346

Advertisements

I am trying to compare the tax load in Washington, Oregon, and Idaho to see roughly how they compare.
I live in Washington and we have no sales taxes on most food items and we have no State income tax.
The State Income tax is a big deal if you have much income.
Is Social Security excempt from State income tax?

Live and let live,

Silverfox
Reply With Quote Quick reply to this message

 
Old 03-23-2010, 01:33 PM
 
1 posts, read 8,260 times
Reputation: 10
Dear Silverfox,

Taxes must be paid based on the residency and It is almost impossible for any professional to project the tax without numbers and the nature of income. Tax calculation based on active or passive income, gain or earned income and tax calculate on dollar to dollar. Social Security Taxes pays on all Earned Income.

Source Corporation Services - LLC Formation - InfoTax Square
Reply With Quote Quick reply to this message
 
Old 03-23-2010, 02:09 PM
 
Location: Mountain Home, ID
1,955 posts, read 3,010,014 times
Reputation: 2411
There are property taxes, but those heavily depend on the area where you live and how much your property is worth. It is less than most areas of Washington, but in general the properties are less expensive percentage wise than in the urban areas of either OR or WA.

The ID state income tax is about 7.8% unless you make under $24,737 a year. Sales tax in Boise is a little over 8%, and groceries are not exempt.

Having lived in both WA and ID, I'd say that as a percentage, the taxes are about the same. WA has higher property tax and sales tax, but no income tax and no sales tax on grocery staples. In ID, the taxes are less, but they just bleed you from more places.
Reply With Quote Quick reply to this message
 
Old 03-23-2010, 04:52 PM
 
Location: Boise, ID
8,043 posts, read 23,705,086 times
Reputation: 9334
Property taxes in Boise/Meridian are (ballpark) around 1% of property value if you have a homeowner's exemption. Canyon county's are considerably higher, I think about 2%, or even 2.5%. Obviously that varies some.

Sales tax in Idaho is actually 6%, not over 8%, and it is on all items, including groceries.

As for state taxes, if I have a paycheck that grosses $1200, I hold out about $50, which is about 4.2%, and I get money back every year, so it should be more like 3.5%. And I do make over $25k a year. That is with just my husband and I, so no extra exemptions. My mom (who has been a real estate agent in Boise for almost 20 years) says that 7-8% is pretty close though, so I'm not sure why mine is less.
Reply With Quote Quick reply to this message
 
Old 03-23-2010, 06:42 PM
 
9,150 posts, read 7,207,884 times
Reputation: 13848
Social Security recipients may qualify for the circuit breaker program for property taxes. Depending on your level of income, it can be a huge discount or even free. Idaho is one of the few states that does not require the monies to be repaid upon sale of the home.
Reply With Quote Quick reply to this message
 
Old 03-24-2010, 02:47 PM
 
Location: Las Vegas
92 posts, read 366,928 times
Reputation: 40
Quote:
Originally Posted by LillyLillyLilly View Post
Social Security recipients may qualify for the circuit breaker program for property taxes. Depending on your level of income, it can be a huge discount or even free. Idaho is one of the few states that does not require the monies to be repaid upon sale of the home.

What is the Circuit Breaker program for property taxes? I don't believe I've heard about this before.
Reply With Quote Quick reply to this message
 
Old 03-24-2010, 06:07 PM
 
9,150 posts, read 7,207,884 times
Reputation: 13848
Quote:
Originally Posted by wanttoretire View Post
What is the Circuit Breaker program for property taxes? I don't believe I've heard about this before.
I believe it's only for people on social security or disibility. Call the county assessor's office and they send you forms to fill out. They may be able to tell you over the phone if you qualify. If you hurry you can get qualified for this year, the cut off is either march 31 or april 15, I don't remember.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Idaho > Boise area
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top