Good bye Des Moines, Hello Sioux City (Hills: construction, schools)

[fezzador]

Just some food for thought - North Sioux City is in South Dakota, where there is no state income tax. Property taxes might be slightly lower too. However, you can shop in Iowa and/or Nebraska, where I believe there is no sales tax for groceries (but there is in SD).

[jmgg]

Originally Posted by fezzador

Just some food for thought - North Sioux City is in South Dakota, where there is no state income tax. Property taxes might be slightly lower too. However, you can shop in Iowa and/or Nebraska, where I believe there is no sales tax for groceries (but there is in SD).

Property taxes are actually slightly higher in SD for identical homes as a higher % of these tax dollars have to pay for more services because of the deletion of the state income tax. Everything else you stated would be correct. Licensing your car as well as the insurance would be less in SD also.


Of the 3 states Sioux City is connected to or abutting, Nebraska would most probably be the most expensive overall.

[fezzador]

Originally Posted by jmgg

Property taxes are actually slightly higher in SD for identical homes as a higher % of these tax dollars have to pay for more services because of the deletion of the state income tax. Everything else you stated would be correct. Licensing your car as well as the insurance would be less in SD also.


Of the 3 states Sioux City is connected to or abutting, Nebraska would most probably be the most expensive overall.

I wasn't 100% sure about how the rates in IA, NE and SD stacked up against each other, but I do know that generally Midwestern states have higher-than-average prop tax rates. They do make up for this in the sales tax department, as they tend to be average-to-below average in that regard (Illinois I think is an exception). I believe MN's sales tax rate is also a bit above average, but this is also somewhat negated with the lack of tax for items such as non-prepared food, clothing, and medications.

[jmgg]

Originally Posted by fezzador

I wasn't 100% sure about how the rates in IA, NE and SD stacked up against each other, but I do know that generally Midwestern states have higher-than-average prop tax rates. They do make up for this in the sales tax department, as they tend to be average-to-below average in that regard (Illinois I think is an exception). I believe MN's sales tax rate is also a bit above average, but this is also somewhat negated with the lack of tax for items such as non-prepared food, clothing, and medications.

All true. Minnesota's sales tax state wide is 6.875% which is higher than Nebraska (5.5% sales tax) SD (4.5% state tax) and Iowa's (4% state tax). All 4 states have additional city (Nebraska, SD, & Minnesota) or county (Iowa) taxes added depending on the locality. These range from additional .50% - 1% in some Minnesota towns up to 2% which is in most SD towns.


Where Minnesota gives you a break on sales tax for food and clothing, they really nail you with their state personal and corporate income tax. Over the years SD has benefitted greatly from companies moving their headquarters across the border primarily for the tax benefits.

[scimitar12]

Each State has its own unique tax structure but Minnesota is consistently ranked as having one the highest overall tax rates in the U.S.

Originally Posted by jmgg

All true. Minnesota's sales tax state wide is 6.875% which is higher than Nebraska (5.5% sales tax) SD (4.5% state tax) and Iowa's (4% state tax). All 4 states have additional city (Nebraska, SD, & Minnesota) or county (Iowa) taxes added depending on the locality. These range from additional .50% - 1% in some Minnesota towns up to 2% which is in most SD towns.


Where Minnesota gives you a break on sales tax for food and clothing, they really nail you with their state personal and corporate income tax. Over the years SD has benefitted greatly from companies moving their headquarters across the border primarily for the tax benefits.

[fezzador]

Originally Posted by scimitar12

Each State has its own unique tax structure but Minnesota is consistently ranked as having one the highest overall tax rates in the U.S.

That doesn't surprise me in the least. Minnesota does tax fairly heavily, but it also has arguably the highest quality-of-life index in the land (there is a strong correlation between the two, by the way. Massachusetts would be another good example). It's on par with, and perhaps even exceeds, much of Canada. Iowa, Nebraska, and Wisconsin aren't too far behind but MN is a rung above I think.

Southern states generally have both a lower overall tax rate and a lower overall QOL index, but they have absolutely no interest in making that trade-off. Most Southern residents would much prefer to keep more money in their pocket than to entrust it with the government (and who can blame them? Political corruption is a devastating disease in Dixie, too many of the tax dollars for schools, roads, public safety, etc. go in politicians' pockets).

[ION1010]

Originally Posted by fezzador

(and who can blame them? Political corruption is a devastating disease in Dixie, too many of the tax dollars for schools, roads, public safety, etc. go in politicians' pockets).

Replace "Dixie" with "Illinois" and this quote would still be accurate.

Anyway, We were looking at retiring to NE but property taxes are outrageous, for much the same reason as SD, large state, low population. MO seems to have a good balance, though they'd do much better if they could tax meth sales.

As to the OP, neighboring states would prefer an easily identified Iowa plate so they can avoid the vehicle; Iowa drivers are arguably some of the worst in the US. i.e. the only difference between the words "Stop" and "Slow" are two letters.

[fezzador]

Originally Posted by ION1010

As to the OP, neighboring states would prefer an easily identified Iowa plate so they can avoid the vehicle; Iowa drivers are arguably some of the worst in the US. i.e. the only difference between the words "Stop" and "Slow" are two letters.

I don't know about that, Iowa drivers are about average in my experience (aside from rudeness, where they are above-average). I find drivers from SD and AL to be incompetent.

[jmgg]

Originally Posted by ION1010

Replace "Dixie" with "Illinois" and this quote would still be accurate.

Anyway, We were looking at retiring to NE but property taxes are outrageous, for much the same reason as SD, large state, low population. MO seems to have a good balance, though they'd do much better if they could tax meth sales.

As to the OP, neighboring states would prefer an easily identified Iowa plate so they can avoid the vehicle; Iowa drivers are arguably some of the worst in the US. i.e. the only difference between the words "Stop" and "Slow" are two letters.

That's funny. Many years ago Iowa had dark blue license plates. The joke in South Dakota at the time was if you flunk your driver's test they issue you a blue license plate.

[Meemur]

Originally Posted by jmgg

That's funny. Many years ago Iowa had dark blue license plates. The joke in South Dakota at the time was if you flunk your driver's test they issue you a blue license plate.

LOL! That is funny! Thanks for sharing that tidbit.