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We just moved to CT and are trying to come to grips with being taxed to death!!!! PA is bad but CT is worse because property values here are something like 75% higher. We are landlords in Pgh's Shadyside district and after taxes, mortgage and limited utilities (which we pay) we still make money. If we wanted the same here, we would be in the red hundreds of bucks every month. My son lives in one of the appartments so we give him a break on rent and we still pocket. We both think CT is a very nice state and doesn't have lots of PA's cons if they could just do something about taxes!
Hey I am looking to get out too. Fed up with the high taxes, unfriendly rude people (Economist ranked #1 in that department too). Looking at NC and FL myself.
All it takes to turn CT around:
- Taxes too high
- Utilities rates too high
Just a week or so ago, the company scheduled to reopen Powder Ridge ski area pulled out.
Game/Set/Match.
I couldn’t agree more …taxes and utilities are high in Connecticut…
However…Powder Ridge Ski has been in/out of financial trouble for 40 years. The problem has little to do with taxes and costs; the problem is the winter climate of the East Coast south of Massachusetts within 50 - miles of the Atlantic… is not a climate that will support enough snow…that lasts long enough…to operate a profitable ski operation.
It's 42 F, foggy, and raining today at Powder Ridge...and it's February.
Weeeeeelllllllllllllll, I've been back in NC for the past couple days.
We saw all we needed to in FL, and took the extra time to follow our noses since it was "mid way" and had to stop around here on the way back anyway.
We are in Johnston County (Clayton, Cleavland, Fuquay-Varina, Holly Springs etc) and it's a breath of fresh air compared to most of the Triangle. 20ish minutes to DT Raleigh, everything you need retail, medical socialwise, .5-2 acre lots, rolling hillside, country without being "heehaw", horse famrs, uber low taxes, best schools in NC, every 3rd person is not a transplant. Very enticing.
Going to look at this 2400sf rental on .5 acres today for $1450...almost $1K less than our current mortgage for a 55 year old somewhat crunchy ranch in a so so town.
It's not just about a "big house" but that combined with the cleanliness, friendliness, access to really nice beaches 2 hours away, low taxes, and all the "new" and "moderness" of what's here it is IMHO very understandable why many would cut bait and head down.
Quote:
Originally Posted by Beeker2211
JiminCT,
The whole Connecticut is "anti-business" line is tired and was never true. "Business" is not a big monolithic entity, especially here in CT. Yes, things cost more here but the biggest impediment to industrial growth in the state isn't the state itself but the extremely high cost of electricity.
Please don't take this the wrong way, but as a person who actually RUNS a small business here in CT it's horrible. You are wrong.
Forbes ranked CT at 28, while NC is 3. CT ranks 43rd in business costs and regulatory environment. I deal with it on a daily basis.
I'll just leave it at that and ask that you not clog this thread up with endless banter, please.
Quote:
Originally Posted by Yankeerose00
I see your other points, but what is a "boring" state? As opposed to an exciting state? I don't see how an entire state can be boring or exciting. Wouldn't that boil down to a particular town or city?
And CT, being close to Manhattan and Boston makes it about as exciting as a state can be.
honestly, give me boring though because that usually means quiet and low crime. I've lived in some places that may seem exciting but it really meant full of crime and traffic. *cough-Tampa-cough*
Agreed, boring can be relative. For me, I can get bored in NYC quickly due to the lack of "outdoors" stuff to do.
Quote:
Originally Posted by kidyankee764
I agree with all points here.
CT is a boring state to many. The vast majority of kids in their mid-20s who have left live in cities - primarily NYC, DC and Boston. I've noticed as their lives are becoming established (married, kids), they are moving back to "cutsie CT".
So while the young are leaving in droves, they are certainly coming back. Heck, maybe it's a good thing that CT isn't seeing the worst (party) years of these folks.
SOME are coming back. Most are not. CT has the second oldest demographic in the nation outside of FL and Florida is a retirement destination. That alone is eye opening!
The town I'm in right now has a median age of 30. It's refreshing to see so many young families here...actually it's eye opening when I compare it to where we live in CT and our social network there.
Quote:
Originally Posted by joelap
I All it takes to turn CT around:
- Taxes too high
- Utilities rates too high
Real estate costs as well. Someone from NYC can certainly find CT a breath of fresh air. But someone like myself from CT can find NC a breath of fresh air in comparison.
If you have the cash to live comfortably in CT, it's a great place. If you are a working class guy with no "help" or "windfall" forget it. You'll both be working yourselves to the bone just to survive.
Let me put it this way. 50-65% of a persons income goes to taxes and real estate costs. That half to more than half of your income. Housing here in NC where I'm at is 42% less than where I live in CT. Taxes end up about 10% less in the end. So that's 52% of my "income" being put towards taxes and real estate coming back to me. I'd rather put that into some form of investment.
Quote:
Originally Posted by shorelinect
Hey I am looking to get out too. Fed up with the high taxes, unfriendly rude people (Economist ranked #1 in that department too). Looking at NC and FL myself.
DM me if you'd like to see what I found - I'll probably make another post here for the curious though.
Quote:
Originally Posted by siri
Jay -- If you're still reading this thread -- man, am i jealous that you figured this out so fast!
I wish you all the best, and I envy your sunshine! Best of everything to you and your family.
We're probably going to wind up in CT just as you're leaving. But maybe in 5 or so years we'll be down south too!
-- Siri
Thanks for the kind words.
Quote:
Originally Posted by wavehunter007
I couldn’t agree more …taxes and utilities are high in Connecticut…
However…Powder Ridge Ski has been in/out of financial trouble for 40 years. The problem has little to do with taxes and costs; the problem is the winter climate of the East Coast south of Massachusetts within 50 - miles of the Atlantic… is not a climate that will support enough snow…that lasts long enough…to operate a profitable ski operation.
It's 42 F, foggy, and raining today at Powder Ridge...and it's February.
If I remember correctly it was to be much more than a ski area. It was supposed to be an entertainment park like Action Park in NJ with warm weather activities as well. Just FYI.
What is being expressed here is why I am having reservations on moving to Ct,costs in Ct compared to here in FL is the same as flushing $5000 down the toilet each year.Ct only good for the wealthy.
Taxes in North Carolina levied same as CT only to a lesser degree.
Please don't take this the wrong way, but as a person who actually RUNS a small business here in CT it's horrible. You are wrong.
Forbes ranked CT at 28, while NC is 3. CT ranks 43rd in business costs and regulatory environment. I deal with it on a daily basis.
I'll just leave it at that and ask that you not clog this thread up with endless banter, please.
I might not own my own business now, but I help with one now and have been involved and interested in businesses since I was a child. Not only is it an interest of mine, it directly affects my life. I also plan to be a small business owner myself for work on the side of my career so I'm learning as much as I can so I'm not caught with my pants down. My mum works at a regional outpost for the family factory and her brother had to fire a 1/3rd of his staff, with a good chance for her being one of the ones that got sacked. This is real for me.
So in all honesty, I do have a pretty good idea what's going on; and please don't take this the wrong way, but you're wrong. It's hard everywhere, and by all measures Connecticut is in reality pretty business friendly, although it doesn't give away everything to be business codependent guy who thinks that if he gives it up easy Business will finally like him and be guilted into staying around. But, Business being a girl of no allegiance just takes then moves onto the next starry eyed state to start the cycle over again. Besides, those "rankings" you speak so highly of are completely sensationalised and mean little more than nothing as they focus on growth potential more than actual health of the economy (there is a significant difference). Mostly they take their mindset of what a perfected economy would be and rank according to that, they don't go back to actually SEE how those businesses do. However that said, Virginia, which is ranked number one repeatedly, seems to have a great idea with business/governmental relations that might be worth investigating and adapting to Connecticut.
Forbes.com gets all it's tax info from a site called "Tax Foundation" whose own website claims that their findings are only estimates, and there's serious critical evidence that their methodology is deeply flawed as it is.
And I've said before, business costs are high in the state and should be brought down, the biggest (if we want to bring more manufacturing back, that is) are Energy and Health Care costs far and away.
And we should wait a few years to see if the Demographic movements change on a national basis before we start losing our marbles, with prices coming down and everywhere else not looking too much better in the long run we might have more youngins like me sticking close.
I couldn’t agree more …taxes and utilities are high in Connecticut…
However…Powder Ridge Ski has been in/out of financial trouble for 40 years. The problem has little to do with taxes and costs; the problem is the winter climate of the East Coast south of Massachusetts within 50 - miles of the Atlantic… is not a climate that will support enough snow…that lasts long enough…to operate a profitable ski operation.
It's 42 F, foggy, and raining today at Powder Ridge...and it's February.
As I noted in another thread elsewhere, 20-40 years ago, they tried ski areas in the craziest of places like that.....there used to be one on Long Island for example! Long Island?
It was even tough to MAKE snow and keep it at Powder Ridge sometimes......
Why is having a high number of seniors bad? I've never heard of that. I have not noticed any more seniors here than VA where we used to live so I looked up some stats. What is the difference between a state having 9% seniors like Texas vs 11% like Virginia vs 13% like CT? Just wondering what that meant.
For the record, Florida felt more like 50% seniors than 18%!
Here is one chart I found where they break it down by percentage
I might not own my own business now, but I help with one now and have been involved and interested in businesses since I was a child. Not only is it an interest of mine, it directly affects my life. I also plan to be a small business owner myself for work on the side of my career so I'm learning as much as I can so I'm not caught with my pants down. My mum works at a regional outpost for the family factory and her brother had to fire a 1/3rd of his staff, with a good chance for her being one of the ones that got sacked. This is real for me.
So in all honesty, I do have a pretty good idea what's going on; and please don't take this the wrong way, but you're wrong. It's hard everywhere, and by all measures Connecticut is in reality pretty business friendly, although it doesn't give away everything to be business codependent guy who thinks that if he gives it up easy Business will finally like him and be guilted into staying around. But, Business being a girl of no allegiance just takes then moves onto the next starry eyed state to start the cycle over again. Besides, those "rankings" you speak so highly of are completely sensationalised and mean little more than nothing as they focus on growth potential more than actual health of the economy (there is a significant difference). Mostly they take their mindset of what a perfected economy would be and rank according to that, they don't go back to actually SEE how those businesses do. However that said, Virginia, which is ranked number one repeatedly, seems to have a great idea with business/governmental relations that might be worth investigating and adapting to Connecticut.
Forbes.com gets all it's tax info from a site called "Tax Foundation" whose own website claims that their findings are only estimates, and there's serious critical evidence that their methodology is deeply flawed as it is.
And I've said before, business costs are high in the state and should be brought down, the biggest (if we want to bring more manufacturing back, that is) are Energy and Health Care costs far and away.
And we should wait a few years to see if the Demographic movements change on a national basis before we start losing our marbles, with prices coming down and everywhere else not looking too much better in the long run we might have more youngins like me sticking close.
~Cheers
Instead of posting links, I'll simply give you stats from my "reality". I don't have *exact* numbers as I'm enjoying the 55* sunny weather in NC right now, but I can assure you I'm within a percent or two.
Workmans comp insurance is about 30% higher for me in CT
Liability insurance is about 20% higher in CT
Utilities are about 25% higher in CT
Property taxes on all of my equipment and supplies is about 75% higher in CT
Fuel costs are 30% higher in CT. (Diesel is $3.00 in CT, $2.69 where I am right now. We use about 1K per month in fuel.) Most of that is a fuel tax.
CT is the only state in the nation that taxes LLC holders $250 per year just to have one.
Permits fees etc are much higher and required more.
Employee wages are about 20% higher due to the higher cost of living. (We are talking about blue collar wages here, not exec pay.)
Advertising costs are about 15% higher in CT. Don't ask me why, they just are.
Those are a few costs I deal with on a daily basis that directly affect my cost of doing business, and my industry will only tollerate so high of a rate so "raising my prices" isn't really an option.
Hope that explains it a little better from the trenches.
Quote:
Originally Posted by 7 Wishes
As I noted in another thread elsewhere, 20-40 years ago, they tried ski areas in the craziest of places like that.....there used to be one on Long Island for example! Long Island?
It was even tough to MAKE snow and keep it at Powder Ridge sometimes......
L.I.? Really? LOL That's funny
Quote:
Originally Posted by Yankeerose00
Why is having a high number of seniors bad? I've never heard of that. I have not noticed any more seniors here than VA where we used to live so I looked up some stats. What is the difference between a state having 9% seniors like Texas vs 11% like Virginia vs 13% like CT? Just wondering what that meant.
For the record, Florida felt more like 50% seniors than 18%!
Here is one chart I found where they break it down by percentage
Keep in mind, I didn't say just "seniors" but median age. We have an aging popluation in CT second only to Florida. In other words, there is a much higher percentage of people 40-60+ then other places and a lot less 20-40 than other places.
The downside? There are plenty, but a few quick ones are that they generally demand higher wages in the workforce.
Two, there is no "next generation" so when these folks leave the workforce there is a gaping hole and our industry suffers. THAT is a huge problem in CT...it's ticking time bomb that is going to go off like the housing bubble.
What are these corporations going to do when they can't fill empty seats? I'll tell you, they are already doing it and have done it by mothballing many operations here in CT outside of corporate offices and are building campus' in other "younger" locals like AZ, NC, SC, GA etc.
There will also be a glut of housing when these "empty nesters" take off, less tax revenue in the state when a good piece of them relocate to "warmer" climates and/or to where their kids relocated to to be with family.
There is a lot more but for the sake of berevity, I'll leave it at that.
For now I have to go, our realtor down here has a horse farm and invited us over this evening to go riding.
Oh and P.S. I noticed a lot of "blue hairs" in VA as well.
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