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Old 06-05-2009, 10:57 PM
 
51 posts, read 180,480 times
Reputation: 22

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Hello

We live in MD (Anne Arundel County, to be exact) and are contemplating whether we should move to NoVA. We'd like to get a newer SFH either in the PW or Loudon county. We are concerned about taxes and cost of living.

Could anyone tell us what is the state and the local tax rates in the PW and Loudon counties? If you can give us a break down of income tax, sale tax, property tax, gas tax, or anything except tobacco and alcohol tax; we will appreciate it. Or if anyone can direct us to a web site that gives tax information by state, county, and city; that'd be excellent as well.

Thank you so much in advance.
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Old 06-06-2009, 05:28 AM
 
10,606 posts, read 12,156,859 times
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Unfortunately, I do not have the specific information you are looking for and it would take me tons of time to figure it out.

I will tell you that I moved from Prince George's County MD to Prince William County, VA. The savings in my payroll taxes alone was significant. I mean, I moved when I was not making very much money at all and going from MD to VA gave me a $75 per pay period raise. When you aren't making much, that is a lot of $$$$$. I can only venture a guess as to what the savings would be now on my much larger income.

I do believe that my real estate tax rate was a tad bit lower; however, the value of the houses was higher over here so I didn't really see any savings there.

Taxes on gas are lower in VA and there are also variances for some reason in counties (not sure if that is a tax variance though). For instance, gas runs about 10 cents cheaper per gallon in PWC over Fairfax.

Don't forget to add in the personal property tax you will pay here on your car. Each county has a different rate and that should be readily available on each county's respective website.
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Old 06-06-2009, 06:08 AM
 
Location: Arlington
91 posts, read 195,421 times
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Both VA and MD have progressive tax rates (MD has more rates), so need to know taxable income but VA is 5.75% over $17,000 and MD is 5% over $150,00K....I would just google each states tax website. I believe MD also has a local income tax depending on the county where you live.

Also, VA, MD and DC have reciprocity agreements. Even if you live in one state and work in another, there is only withholding(therefore filing requirements) for the state you are a resident...this is for W-2 employeees. Different if self employed.
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Old 06-06-2009, 06:09 AM
 
Location: Arlington
91 posts, read 195,421 times
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Sorry, just reread your email and you are already in MD....early Sat AM before coffee. VA is 5.57% and know local income tax.
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Old 06-06-2009, 06:41 AM
 
1,261 posts, read 5,619,225 times
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This article might answer some of your questions: Raw Fisherfrom Marc Fisher's Blog - Do the Math: District's Taxes Aren't the Worst - washingtonpost.com
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Old 06-06-2009, 10:41 AM
 
Location: Springfield VA
4,037 posts, read 8,087,483 times
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Well the thing is with Maryland and Virginia I think it all evens out in the end. Taxes are from my understanding a little higher in Maryland. But Maryland as a whole is a little cheaper than Virginia in other aspects. Gas is cheaper in VA but VA is more spread out and has worse traffic so you'll probably spend more on gas in VA thus wiping out that 10 cent savings. Yes property taxes are lower in VA but property values are higher too so once again the savings are lost. I think it boils down to a matter of preference. If at the end of the day you're happy in Anne Arundell county then why rock the boat? If you are not happy then maybe VA is the place to be.
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Old 06-07-2009, 09:54 PM
 
51 posts, read 180,480 times
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Thanks everyone for your information. mlv311, the article you pointed out was really helpful. The reason for thinking about moving, for the most part, is my husband's commute to Arlington, VA. He takes almost 4 hours (2-way) everyday in traffic and train ride. His office is going to be relocated to China Town, DC in the next few months. It will cut down his commute time somewhat, but we still like to explore our options.

We saw new homes in the PWC with the prices that are not much different from our current mortgage, but our home is 30-year old. Moving to VA means being able to get a newer home with slightly higher price. MD is talking about increasing sales tax again because the "rich" has fled the state, and their revenue is down.

Thanks again for being so helpful.
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