Taxes, Taxes, Taxes! Oh, and Insurance, Too!! (Charleston: sales, house insurance)

[xinerevelle]

My husband is considering a job offer right now to move to Charleston. We currently live in Panama City Beach, FL, where the tax situation is pretty fair. We have no state income tax, the state sales tax is 6% and the county/city options can add 1-2% onto that, depending where you are when you shop. We pay a fee of about $50-75/year to register each vehicle as well. We pay about $2000 in property tax on an assessed value of $165k.

Insurance wise -- we pay next to nothing for flood insurance (about 1/2 mile from the Gulf in Flood Zone X -- not required)... I think it was $348 for $250k of flood this year. House insurance is about $1300 for $263k. Car insurance (State Farm) is about $700/year per vehicle with no accidents.

I've read lots and lots of posts on this and other forums, and am starting to get concerned that we won't be able to afford living in SC due to taxes and insurance! Can you guys help me out and give me some examples of what you pay? I know that state income tax is 7%, so we're negotiating the new salary to cover that, but what's this I read about some exorbitantly priced personal property tax? How does that work? Any real-world tips for me?? I just want to make sure that we're asking for the right amounts to make this worth our while since we don't have to move (he's being recruited to a different industry/career).

Thanks in advance for your advice!

PS -- We have top notch credit, no debt, and our vehicles are a 2001 and a 2004.

[xinerevelle]

Anyone???

[DJShymansky]

Insurance wise -- we pay next to nothing for flood insurance (about 1/2 mile from the Gulf in Flood Zone X -- not required)... I think it was $348 for $250k of flood this year. House insurance is about $1300 for $263k. Car insurance (State Farm) is about $700/year per vehicle with no accidents.

Those numbers seem about right, for X flood zones and ballpark insurance quotes for here as well. Taxes on a $250k home, owner occupied would be between .5% and .75% (estimating high) of purchase price depending on county/city. For two vehicles, high mileage, I pay about $300/yr. total to renew my tags.

[xinerevelle]

Thanks for the info. Glad to know we're not getting in over our heads!

I'll probably be calling you soon, dj... DH got the verbal offer negotiated today, and the formal one should be in the mail this week. Background checks and what not to be done next week, then resignation.

With two little ones, I need to get a better handle on the school situation before I start househunting... I've been reading the "grades" and "report cards" (scary! ), but there's nothing like being there and talking to people to give you the real scoop.