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Old 01-10-2007, 09:14 PM
 
Location: Central FL
1,683 posts, read 7,582,793 times
Reputation: 834

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I was talking with a friend from Georgia the other day and we were commiserating about the continually increasing cost of the living. As we began to compare our costs, it suddenly dawned on me that Florida may not be as expensive as I thought. So I sat down and wrote out a chart comparing my expenses to his. This is what we found:

Florida
Property Tax $4600 (due to SOH can only increase 3% annually)
HOI $1600 Car Tags $80
Tax on Food and Drugs $00 State Income Tax $00

Total for Florida: $6280.00


Georgia
Property Tax (on comparable home based at 1 mil - no SOH - note our home in Orlando is valued at $450 - 500K - a comparable home in most areas of Georgia would sell for around $350 - 400K. For argument's sake I am taking the lower figure and estimating low.)

Property Tax $3000 Car Value Tax $1200
HOI $600 Tax on Food and Drugs $600
State Income Tax (based on adjusted income of 100K) $5000

Total for Georgia $10,400.00

I was shocked! This totally floored me. Over 4K a year difference. Yes, the gas may be .20 a gallon cheaper and the water and electricity may be cheaper, but they would have to be giving it away to even come close to 4K!
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Old 01-10-2007, 09:37 PM
 
275 posts, read 999,354 times
Reputation: 172
Florida isn't expensive. Just to people who haven't been outside of Appalachia. You can get a fortress of a house in a great area for under 800.
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Old 01-11-2007, 11:06 AM
 
Location: Living in Paradise
5,702 posts, read 22,263,186 times
Reputation: 2987
Quote:
Originally Posted by pianogal View Post
I was talking with a friend from Georgia the other day and we were commiserating about the continually increasing cost of the living. As we began to compare our costs, it suddenly dawned on me that Florida may not be as expensive as I thought. So I sat down and wrote out a chart comparing my expenses to his. This is what we found:

Florida
Property Tax $4600 (due to SOH can only increase 3% annually)
HOI $1600 Car Tags $80
Tax on Food and Drugs $00 State Income Tax $00

Total for Florida: $6280.00


Georgia
Property Tax (on comparable home based at 1 mil - no SOH - note our home in Orlando is valued at $450 - 500K - a comparable home in most areas of Georgia would sell for around $350 - 400K. For argument's sake I am taking the lower figure and estimating low.)

Property Tax $3000 Car Value Tax $1200
HOI $600 Tax on Food and Drugs $600
State Income Tax (based on adjusted income of 100K) $5000

Total for Georgia $10,400.00

I was shocked! This totally floored me. Over 4K a year difference. Yes, the gas may be .20 a gallon cheaper and the water and electricity may be cheaper, but they would have to be giving it away to even come close to 4K!
Superb comparison!!!!!!
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Old 01-11-2007, 07:34 PM
 
Location: Sarasota
16 posts, read 45,009 times
Reputation: 15
A couple things to remember though:
1. You probably won't make that $100k in FL
2. Many HOI is more expensive than what is listed for FL
3. Everything is electric and with A/C running that could be an extra $100/mo = $1200 annually --minimum
4. Many other costs are higher and would add up also: healthcare, food, etc.

All these items would add up.

I lived in Port Charlotte in 97/98 and moved back for family reasons. I built a brand new home in the Indianapolis area 4 years ago: 3/2/2, loft, 2100 sf. Total monthly PITI ~ $940/mo. No snow yet this year - I said YET...

Believe me, I would LOVE to move back to FL but let's be real, I KNOW my housing along will probably triple for a similar home. That's a big lifestyle change.
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Old 01-11-2007, 07:55 PM
 
Location: Central FL
1,683 posts, read 7,582,793 times
Reputation: 834
1. You probably won't make that $100k in FL
2. Many HOI is more expensive than what is listed for FL
3. Everything is electric and with A/C running that could be an extra $100/mo = $1200 annually --minimum
4. Many other costs are higher and would add up also: healthcare, food, etc.


Actually I live in Orlando and these ARE my real costs/income.... None of the other costs are made up. I am blessed that my healthcare is covered by my employer - a fantastic health plan that costs me nothing out of pocket.

I spend 600.00 a month for 4 people here on food - without having to pay taxes on it. I buy boneless, skinless chicken breasts at Albertson's for $1.79 a pound, a 5 lb. bag of chicken thighs that I take home and bag in portions for .49 a pound. They often have Tilapia in 1 lb. bags - buy one get one free for $5.00 and Turkey or Pork Tenderloins - buy one get one free for $9.99. A couple of weeks ago they had New York Strips for $4.99 a pound.

I buy ground round at Sam's, take it home and bag it in meal size portions. I buy chuck roasts and stew beef there and bag them for the freezer - also turkeys when they are on sale. I buy my produce in bulk at Sam's or at the corner vegetable market. I bought a whole flat of early Plant City strawberries for $5.00 the other day. I buy huge Ruskin tomatoes at the vegetable market for .50, cucumbers 4 for a $1.00, red and yellow peppers are 6 for $1.00. It's not that hard to eat well and cheaply if you know how and where to shop. I abhor fast food and love good home cooking.

I frequently visit my family in South Carolina and often shop and cook for them while I'm there. Not only do they often not have the things I need, many times the produce is not fresh and the prices are much higher than I pay here. This is a small town - I'm sure in the larger cities you would have more variety.

The only item I may agree with you on would be the utilities but there's no way they could amount up to 4K more a year. I understand the housing costs could be alot higher depending on how expensive your home is, how long you've lived in it (property taxes) and how close to the coast you are for HOI.

I was just so surprised at the difference - it was a real eye opener for me. I had really believed all the comments about how much cheaper everywhere else was until I actually sat down and started comparing the costs for ME. Everyone's situation is different. It just goes to show there is no pat answer that will fit for everyone - each person needs to look at their goals, wishes and assets to make the decision that is right for them.

Last edited by pianogal; 01-11-2007 at 08:07 PM..
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Old 01-11-2007, 08:30 PM
 
Location: Living in Paradise
5,702 posts, read 22,263,186 times
Reputation: 2987
Quote:
Originally Posted by MiBriGuy View Post
A couple things to remember though:
1. You probably won't make that $100k in FL
2. Many HOI is more expensive than what is listed for FL
3. Everything is electric and with A/C running that could be an extra $100/mo = $1200 annually --minimum
4. Many other costs are higher and would add up also: healthcare, food, etc.

All these items would add up.

I lived in Port Charlotte in 97/98 and moved back for family reasons. I built a brand new home in the Indianapolis area 4 years ago: 3/2/2, loft, 2100 sf. Total monthly PITI ~ $940/mo. No snow yet this year - I said YET...

Believe me, I would LOVE to move back to FL but let's be real, I KNOW my housing along will probably triple for a similar home. That's a big lifestyle change.
Some of us exceed item 1.....
And the other points depends in the area. At least we have something to compare
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Old 01-11-2007, 09:00 PM
 
Location: Sarasota
16 posts, read 45,009 times
Reputation: 15
your response, along with the emoticon, are an expression of arrogance. I won't post my income level because the $100k+ is definitely not the norm. That income level is way, way, way above the average annual income for FL. I'm sure with that $$ you can live comfortably especially if you've been there for a while. A person coming in to FL with that level of income now would have a lower standard of living due to the increases in housing TCO.
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Old 01-11-2007, 09:12 PM
 
Location: Living in Paradise
5,702 posts, read 22,263,186 times
Reputation: 2987
Quote:
Originally Posted by MiBriGuy View Post
your response, along with the emoticon, are an expression of arrogance. I won't post my income level because the $100k+ is definitely not the norm. That income level is way, way, way above the average annual income for FL. I'm sure with that $$ you can live comfortably especially if you've been there for a while. A person coming in to FL with that level of income now would have a lower standard of living due to the increases in housing TCO.
Actually you can. The aerospace industry is well paid and as a retired USAF member I have an extra income. The average person in our industry is making at least over $20 per hour with overtime at $33 to $35 in overtime. Our area does provide for the qualified person a proper compensation.

Not arrogance just reality....
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Old 01-11-2007, 09:55 PM
 
Location: Central FL
1,683 posts, read 7,582,793 times
Reputation: 834
That income level is way, way, way above the average annual income for FL. I'm sure with that $$ you can live comfortably especially if you've been there for a while. A person coming in to FL with that level of income now would have a lower standard of living due to the increases in housing TCO.

The following are stats of the average per capita personal income per state and rank for Florida and neighboring states for 2005:

National Average $34,500
Alabama 29,600 40th
Florida 34,000 20th
Georgia 31,000 33rd
North Carolina 31,000 35th
South Carolina 28,000 44th
Tennessee 31,000 36th

Not surprisingly, the top 19 (Florida was No. 20) were almost all northeastern states, Alaska, California and Wyoming (that one surprised me).

Source: U.S. Dept. of Commerce, Bureau of Economic Analysis. Released Sept. 26, 2006.

Last edited by pianogal; 01-11-2007 at 10:22 PM..
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Old 01-12-2007, 12:05 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,991,823 times
Reputation: 991
I disagree with the comparsion. Property tax is only homesteaded if you own one house(on primary house only) and if you bought long ago and house price went up. Also $100k annual income is very high. Let me do the comparsions with my own math, feel free to disagree but its more relistic.


North Florida house average cost $120 a living square foot.
Georgia house average cost $90 a living square foot.

You buy 2000 living square feet house.

North Florida:

$240k house, $4800 prop tax(2%) $2400 HOI
You make $40k a year on the job and so does your spouse.

Georgia:

$180k house, $3600 prop tax(2%) $1200 HOI(half of N. Florida)
Buy a cheap car and taxes is very low.
You make $50k a year on the job and so does your spouse.
Georgia pays more for the job. Lose 5% state tax and still $45k left.

Georgia's houses are cheaper than anywhere in Florida(especially south) Jobs pay more, even with the state income tax your still ahead. Property taxes and insurance is also cheaper. Maybe if you made the same salary in FL and Georgia you might be better off in FL because no state tax. But houses are alot more expensive plus theres hurricanes to deal with
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