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Old 10-22-2015, 10:25 PM
 
84 posts, read 106,069 times
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Comparing southern, relatively low cost metro areas such as Atlanta, Charlotte, Nashville, Tampa, Orlando, Columbia, Jax, Memphis, etc what advantages are there to living in a state with an income tax? For example, GA has a 6% tax, SC has a 7% NC a 5.75%. TN and FL have no state income tax. Am i missing something in regards to why people choose to live in ATL or Charlotte and continue to talk about the low cost of living? Don't compare it to NY or LA or Boston.

I live in a no income tax state, pay no state income tax and gas, food, car registration, etc are all cheaper than what you'd pay in Atlanta or Charlotte. Property taxes and insurance are more, but not 10k more a year. I would have to make another 20k or 30k a year just to have a similar lifestyle in some of these cities. So i guess my question is for those of you who live in these cities, with the exception of family ties or having a great job that pays you more than somewhere else, do you consider moving to a no income tax state or do you feel that taxes you pay somehow even out in regards to Cost of living?
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Old 10-23-2015, 12:03 AM
 
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FL is a low wage state with low funding for public schools and toll booths everywhere.

10k in state income tax? You have it set. That's a very good income as most people pay far less than the top marginal tax rate in income tax.
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Old 10-23-2015, 08:37 AM
 
84 posts, read 106,069 times
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Quote:
Originally Posted by PCALMike View Post
FL is a low wage state with low funding for public schools and toll booths everywhere.

10k in state income tax? You have it set. That's a very good income as most people pay far less than the top marginal tax rate in income tax.
Appreciate the response, i'd disagree with FL being a low wage state. If you don't have a degree or experience, sure but in comparison to some of the other metros i mentioned, pay is fairly similar. Both myself and wife make more than we did in other cities, performing similar jobs, i've lived in Atlanta and Dallas.

The schools, i'd agree with, although there are areas with great schools in Florida, as well as the Nashville area. The same could be said for Atlanta and Charlotte. Many of the schools are not that great, although there are a greater number of better public schools overall in those cities.

The tolls, I would agree with, although I choose to avoid them when possible. Charlotte is in talks of starting to charge tolls in 2018, although atlanta had a toll but did away with it recently, they do still have express lanes that you can ride in if you want to pay.
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Old 10-23-2015, 08:55 AM
 
56,987 posts, read 81,344,865 times
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Well, no income tax states also have to make up the difference elsewhere. Tax relocation is a myth - Bankrate.com

States With No Income Tax: Better Or Worse To Live There? | Bankrate.com
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Old 10-23-2015, 09:41 AM
 
84 posts, read 106,069 times
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Quote:
Originally Posted by ckhthankgod View Post
Well, no income tax states also have to make up the difference elsewhere. Tax relocation is a myth - Bankrate.com

States With No Income Tax: Better Or Worse To Live There? | Bankrate.com
I keep reading articles like this but have yet to see it in reality. I mentioned earlier I lived in Atlanta, had less money, rent was more expensive, car registration, gas was about the same essentials were about the same. People are moving by the millions from California to Texas and it's not because of the weather. It's because of the low taxes and most of them can take a pay cut, while increasing their quality of life.
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Old 10-23-2015, 11:25 AM
 
56,987 posts, read 81,344,865 times
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Quote:
Originally Posted by livedeverywhere123 View Post
I keep reading articles like this but have yet to see it in reality. I mentioned earlier I lived in Atlanta, had less money, rent was more expensive, car registration, gas was about the same essentials were about the same. People are moving by the millions from California to Texas and it's not because of the weather. It's because of the low taxes and most of them can take a pay cut, while increasing their quality of life.
Those aspects may take up a small percentage of overall COL and it may be a matter of personal choices, with the latter having an impact on personal overall COL. Those aspects in the article are a part of the reality as well, but they may not impact you personally.

To be honest, people move where there is real or perceived economic opportunity.
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Old 10-23-2015, 11:31 AM
 
Location: Washington State
18,887 posts, read 9,721,053 times
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I didn't locate to Washington state for the no state income tax but after arriving, it made me not want to leave to go to a state where I would have to pay a lot of state taxes. I think we have a great deal in Washington state with no state income taxes, reasonable property taxes, low crime, good schools...no state is better for me as far as I can see.
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Old 10-23-2015, 11:42 AM
 
Location: A Yankee in northeast TN
10,622 posts, read 14,413,933 times
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Quote:
Originally Posted by ckhthankgod View Post
Well, no income tax states also have to make up the difference elsewhere. Tax relocation is a myth - Bankrate.com

States With No Income Tax: Better Or Worse To Live There? | Bankrate.com
"The effects of tax increases on migration are, at most, small -- so small that states that raise income taxes on the most affluent households can be assured of a substantial net gain in revenue."

Read more: Tax relocation is a myth - Bankrate.com

That seems like an odd thing to base any kind of conclusion on. I don't know of many people who would decide to uproot their lives and move away because of a tax increase. Where is the study on people who face a choice and choose NOT to move somewhere because of existing tax rates. That would be far more telling IMO.
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Old 10-23-2015, 11:57 AM
 
56,987 posts, read 81,344,865 times
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Quote:
Originally Posted by DubbleT View Post
"The effects of tax increases on migration are, at most, small -- so small that states that raise income taxes on the most affluent households can be assured of a substantial net gain in revenue."

Read more: Tax relocation is a myth - Bankrate.com

That seems like an odd thing to base any kind of conclusion on. I don't know of many people who would decide to uproot their lives and move away because of a tax increase. Where is the study on people who face a choice and choose NOT to move somewhere because of existing tax rates. That would be far more telling IMO.
Perhaps retirees or those on a fixed income would be effected by a tax increase. Besides that, I think that what you said is the point they are trying to make.

Here's another article: http://www.bizjournals.com/buffalo/n...as-income.html

Last edited by ckhthankgod; 10-23-2015 at 12:06 PM..
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Old 10-23-2015, 03:25 PM
 
Location: Syracuse, New York
3,114 posts, read 2,534,559 times
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The main advantage is that federal deductions for state income taxes tend to be a good deal larger than federal deductions for state sales taxes.
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