Are taxes in Ohio higher than most states? (Columbus, Hamilton: power lines, to rent)

[llowllevellowll]

Originally Posted by Linda Pratt

Certainly NOT true for the Cincinnati area and I can not believe that for anywhere in Ohio! As a real estate investor, I can tell you that sales may be down just a little and when that happen prices may dip slightly, but certain not by nearly half, that's ridiculous. Your dad was mistaken, or the news program got the state wrong. Good grief. Appreciation is slow and steady. We do not see the enormous jumps and drops as in other parts of the country, like southern Florida or east or west coast. No sir, not Ohio!

I have many rentals and they all have a positive cash flow! Don't know where you lived in Ohio, but I would question the business methods more so than the state. There are always a need for rentals!

Do you try to sell your customers this junk as well? Maybe if you lie enough, you actually begin to believe it. There are houses in Cleveland and Akron priced between 8,ooo - 20,ooo. Have you been through Cleveland? Along with Detroit, it's essentially the face of the foreclosure crisis. Remember the old woman who was about to lose her house and as the sherrif came to remove her, she held up in her bedroom and shot herself in the throat with a shotgun? That wasin Cleveland. YOU may be doing alright, but the rest of Ohio has pockets where they clearly aren't. I'm not at all suprised if the numbers are that drastic because there are areas where you can spend far more for a CAR than a HOUSE.

[Cosmic]

Originally Posted by kidzpta

Rank State Tax Burden as % of Income Per Capita Tax Burden Per Capita Income
1 Maine 13.50% $4,719 $34,935
2 New York 12.90% $5,734 $44,571
- District of Columbia 12.80% $8,092 $63,044
3 Ohio 12.00% $4,332 $36,054
4 Minnesota 11.90% $4,930 $41,363
5 Hawaii 11.70% $4,496 $38,269
6 Nebraska 11.60% $4,294 $36,999
7 Wisconsin 11.60% $4,289 $37,115
8 Rhode Island 11.50% $4,629 $40,331
9 Connecticut 11.30% $6,018 $53,152
10 Vermont 11.10% $4,118 $37,025
11 Louisiana 11.00% $3,463 $31,358
12 Indiana 11.00% $3,796 $34,647
14 Illinois 10.90% $4,335 $39,902
15 California 10.90% $4,451 $41,022
13 Washington 10.90% $4,334 $39,705
16 Michigan 10.80% $3,965 $36,751
17 New Jersey 10.80% $5,234 $48,590
20 Kentucky 10.70% $3,383 $31,639
18 Kansas 10.70% $3,885 $36,209
19 Maryland 10.70% $4,996 $46,562
- United States 10.60% $4,072 $38,376
21 West Virginia 10.60% $3,212 $30,317
23 North Carolina 10.50% $3,526 $33,732
22 Utah 10.50% $3,261 $30,917
26 Iowa 10.40% $3,709 $35,807
25 Georgia 10.40% $3,564 $34,327
24 Pennsylvania 10.40% $4,057 $38,849
27 Arkansas 10.30% $3,088 $29,999
28 Massachusetts 10.30% $5,047 $49,203
29 Mississippi 10.20% $2,924 $28,591
30 South Carolina 10.20% $3,213 $31,480
31 Idaho 10.20% $3,159 $31,031
32 Arizona 10.10% $3,350 $33,156
33 Wyoming 10.10% $4,120 $40,912
34 Missouri 9.90% $3,509 $35,408
36 New Mexico 9.90% $3,031 $30,642
35 Oregon 9.90% $3,492 $35,300
37 North Dakota 9.80% $3,421 $34,808
38 Colorado 9.80% $4,098 $41,987
39 Florida 9.70% $3,566 $36,734
40 Oklahoma 9.60% $3,129 $32,661
41 Virginia 9.50% $4,056 $42,642
42 Montana 9.50% $3,108 $32,719
43 Nevada 9.50% $3,758 $39,683
44 Texas 9.40% $3,368 $35,913
45 South Dakota 9.20% $3,177 $34,647
46 Alabama 8.80% $2,881 $32,599
47 Tennessee 8.60% $2,979 $34,568
48 Delaware 8.40% $3,426 $40,964
49 New Hampshire 7.30% $3,136 $42,707
50 Alaska 6.60% $2,598 $39,499

When Ohio is getting smoked by MA you know the entire bases for it is trash. Have you ever filled out a MA state income tax form??? Try that and then tell me how bad Ohio is??? Pay $25 per $1000 valuation on your cars each year. Pay them Boston insurance rates. All this stuff is crap. Ohio's state income tax is one of the fairer ones around, you get a reasonable set of deductions and rules, the rates mean nothing it is what you actually pay out of pocket to live.

I lived for years in Boston, they had every ruse to skin you. Not only the taxes but the scanner fraud in the stores, rigged games, plain olde fraud. Same for most of New England. Florida is a sham with all that no state income tax too, they sure try to collect it in so many other ways.

Try the only test that counts. Put yourself in any state and actually figure your costs per your particular lifestyle, income, etc. All of the states have a way of getting too you. Ohio is pretty predictable, on balance a good bargain for what you get. I sure ain't going to trade with a lot of them states they are claiming is so much better.

[From Ohio and proud of it]

Cleveland (Cuyahoga County) has the highest rate of foreclosures in the country.
[/quote]

Not true - I believe that distinction belongs to somewhere in Florida or CA. Possibly Vegas? Depending who you talk to.

Home values in Ohio have dropped probably 10%, depending on where you are. There are other areas besides Cleveland, all inner cities have problems with crime/poverty, etc. I live in Akron, and it is not that bad, especially outside of the city. It is not like the "old west" and there are not prostitues on every corner. Ohio has legalized concealed carry permits, however, so watch what you say to strangers unless you are packing!

We have beautiful parks/waterfront, rivers, lakes, lots of things to do in all seasons. If you don't need a job or can relocate at your present job (telecommuting), there are bargains to be found in housing. Probably not a good place to retire to, because of the taxes. People on fixed incomes are going to be suffering in the next few years.

Don't let a few people sour you on Ohio. It's a big state. You can find something to love about it.

[5Lakes]

Originally Posted by Puddy4LyF

Do you try to sell your customers this junk as well? Maybe if you lie enough, you actually begin to believe it. There are houses in Cleveland and Akron priced between 8,ooo - 20,ooo. Have you been through Cleveland? Along with Detroit, it's essentially the face of the foreclosure crisis. Remember the old woman who was about to lose her house and as the sherrif came to remove her, she held up in her bedroom and shot herself in the throat with a shotgun? That wasin Cleveland. YOU may be doing alright, but the rest of Ohio has pockets where they clearly aren't. I'm not at all suprised if the numbers are that drastic because there are areas where you can spend far more for a CAR than a HOUSE.

Cleveland was hit more early than most by the foreclosure crises, but other areas have certainly surpassed it. The dynamics of foreclosures are different in the Cleveland are than much of the country, in that it hit poor inner city areas more so than newer suburbs. Ohio has problems, but your state is much worse off than Ohio in terms of the amount of foreclosures.

Highest State Foreclosure Rates - Slideshows - CNBC.com

[JennySquirrel]

We moved from Ohio because of the taxes. We moved to Florida and saved ourselves $40,000 a yr. Good riddance! I no longer have to look at the gray skies and sit and wait til 3pm for the snow plow trucks to finally get into the neighborhood THREE days after a storm!

I hate that state all they did was take my money and let the state go down hill.

[jam40jeff]

Originally Posted by JennySquirrel

We moved to Florida and saved ourselves $40,000 a yr.

My Fuzzy Math Detector is going crazy!

[Cosmic]

Originally Posted by JennySquirrel

We moved from Ohio because of the taxes. We moved to Florida and saved ourselves $40,000 a yr.

Originally Posted by jam40jeff

My Fuzzy Math Detector is going crazy!

No your Fuzzy Math Detector (FMD) is not crazy, Ms. J. Squirrel's calculator is correct but the minus sign was lighted. It actually cost over $40,000 a year more in Florida. Failure to read the machine correctly is pretty normal in that southern heat. Always trust your FMD, it can detect even correct results improperly reported.

[Buckeye in SC]

Originally Posted by jam40jeff

My Fuzzy Math Detector is going crazy!

If they make mid to high 6-figures, saving $40k per year in taxes may not be too far off being that Florida has no state or local/city income taxes.

[jam40jeff]

I have seen estimates of total tax burden claiming that Ohio is anywhere from a total of 2.3% to 3.0% higher than Florida. Even if we assume it's in the high range (at 3.0% higher) then Squirrel would have to over $1.3 million per year. Of course, since she simply said "We moved to Florida and saved ourselves $40,000 a yr." I'd assume she took into account other factors such as the fact that her homeowners insurance just skyrocketed and her cost of living index just went way up due to the fact that the cost of living in Florida is about 5% higher than Ohio and average salaries are lower, pushing the yearly salary required to obtain $40k in savings well over $2 million.

It's not impossible, but I don't think it's a reality many of us face.

[Buckeye in SC]

Originally Posted by jam40jeff

I have seen estimates of total tax burden claiming that Ohio is anywhere from a total of 2.3% to 3.0% higher than Florida. Even if we assume it's in the high range (at 3.0% higher) then Squirrel would have to over $1.3 million per year. Of course, since she simply said "We moved to Florida and saved ourselves $40,000 a yr." I'd assume she took into account other factors such as the fact that her homeowners insurance just skyrocketed and her cost of living index just went way up due to the fact that the cost of living in Florida is about 5% higher than Ohio and average salaries are lower, pushing the yearly salary required to obtain $40k in savings well over $2 million.

It's not impossible, but I don't think it's a reality many of us face.

I agree, property taxes are significantly higher in Florida, so unless they moved there and rented - which even w/a high income it's usually a recommended thing to rent for a year to get to know the area - they would be making big bucks to see that kind of savings as you pointed out. Which if they do make that kind of money, I doubt they'll be renting for long!