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Old 01-30-2013, 12:16 PM
 
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Hi. We are thinking of moving to Fairfield or Westchester. We are going to rent and have no kids. In general, when you add up sales tax, income tax, car insurance, etc. is one county cheaper than the other?
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Old 01-30-2013, 12:58 PM
 
Location: Coastal Northeast
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Median homesale price:

Westchester, $484,800
Fairfield, $356,600

However, Stamford/Norwalk area routinely ranks as number one in the nation for highest rents, but that's largely because Westchester is grouped in with NYC. Owning a car in CT is more expensive.

Overall, I'd say Westchester is slightly more expensive.

Last edited by kidyankee764; 01-30-2013 at 01:07 PM..
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Old 01-30-2013, 01:00 PM
 
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NY will typically be more expensive. NY has higher sales tax and income tax. However, CT charges an annual property tax on cars which is at least a few hundred dollars. Car insurance will be more dependent on the town as opposed to the state.
Where will you work? Even if you live in CT but work in NY, you will pay NY income taxes, so keep that in mind.
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Old 01-30-2013, 01:07 PM
 
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NY/CT/NJ - the three most expensive states in which to live. One is as bad as the other, as far as expenses. They have figured out every which way to tax you. Find a town you like and an acceptable rent amount and go for it. One way or the other, the government will get your money.
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Old 01-30-2013, 01:18 PM
 
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Quote:
Originally Posted by Mike 75 View Post
NY will typically be more expensive. NY has higher sales tax and income tax. However, CT charges an annual property tax on cars which is at least a few hundred dollars. Car insurance will be more dependent on the town as opposed to the state.
Where will you work? Even if you live in CT but work in NY, you will pay NY income taxes, so keep that in mind.
Not correct on your last point. You do pay your income taxes to NY but at the CT rates. A pretty hearty savings (7 vs. 5% for most).

Overall, Fairfield is cheaper than Westchester by a considerable margin. Property taxes can be 50-65% less, income tax is ~2% lower per dollar of income in CT/FFC. Sales tax in CT is 8 and 3/8% vs. 6.35%. Yes we have a car tax, but it doesn't amount to more than 1% of income if you choose to live in a lower mill rate town (Darien, New Canaan, Greenwich, Wilton, Westport). There are also other county/district/town/village/hamlet taxes that seem to be commonplace in Westchester and on top of property. That would never happen in CT because the municipality and state are the only recognized bodies of government. Counties are just boundaries on maps.
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Old 01-31-2013, 09:52 AM
 
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If you're buying, I'd say go for CT, but if you're just renting, they're pretty comparable. The major difference between the two counties is property tax - there are other cost differences, but they won't have nearly the impact property tax does. You pay a higher sales tax in NY state than CT, but you'll pay less to commute from Westchester.
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Old 01-31-2013, 10:10 AM
 
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Property tax is the biggest component, but don't discount the impact of 2% higher income AND sales taxes. That can quickly add up to several thousand dollars.
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