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Old 07-07-2007, 07:37 AM
 
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Regarding high property taxes - If you look at the whole tax picture, for us North Dakota is favorable to Minnesota. Income tax is so much lower that the combination of PT and IT is still lower in ND. After you retire, you will still pay income tax. You will have income from personal savings, social security, etc. And you will be taxed on that income unless you live in a state with no income tax. West Fargo has lower sales tax, but it sounds to me like you want an older home with character and large trees, and that is not West Fargo! When we moved to Fargo from Iowa, we had $300 more per month of net income, even with the higher property taxes.

We are moving to South Carolina this month - job transfer. Even though property tax is less in South Carolina, we will pay about $2000 per year more to live there, because of the higher income tax.

Your tax situation may be different, but I would look carefully at the whole picture before choosing MN because their property taxes are lower.

Good Luck!
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Old 07-07-2007, 05:27 PM
 
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Thanks Soccermom! Lots of valuable information here. We will indeed look at the bigger picture--maybe even consult a friend of ours who is an accountant. There are a lot more houses available in Fargo (compared to Moorhead)--and thus more homes that appeal to us--so this could turn out to be good news!

Still, we have to think hard about the prospect of becoming North Dakotans instead of remaining Minnesotans!
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