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Old 03-16-2016, 03:56 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,929,938 times
Reputation: 6716

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Quote:
Originally Posted by jrkliny View Post
I am sure you are being facetious but I would not like to live there due to the heat, humidity, the culture or lack of it and the reputation for very poor quality of healthcare.
Florida pleads guilty to heat and humidity (even here in NE Florida during our long summer). Culture? What do you want? Even up here in JAX we have a symphony orchestra - lots of concerts in various flavors - all the shows you find in most cities outside of New York - etc.

As for healthcare - we're 10 minutes away from Mayo JAX. Where we get about 95% of our health care. Hard to beat that. Robyn
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Old 03-16-2016, 04:03 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,929,938 times
Reputation: 6716
Quote:
Originally Posted by HappyTexan View Post
The problem is that they keep lowering the bar for who they classify as "wealthy".

It's not millions anymore..it's a mere $250K a year if you are working.

I can't tell you how many times I got hit with the AMT at tax time.
That AMT was for the wealthy, the truly rich to get extra money out of them.
$52K triggers the AMT.

That AMT magically worked its way down to middle class folks.
And the bulk of the AMT tax is collected from the middle class, not the wealthy.
So it doesn't serve the government to really and truly fix it.
You're confusing what most people would consider to be a nice income with the AMT. Which - especially before it was inflation adjusted - was a very pernicious tax (although it can still bite you in the butt). It mostly affected people in states with high taxes. But eventually worked its way down to low tax states like Texas and Florida. Hope the inflation adjustments help. Robyn
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Old 03-16-2016, 04:11 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,929,938 times
Reputation: 6716
Quote:
Originally Posted by jrkliny View Post
I wish I was at $250k or even half of that a year. Even at a much lower income, the taxes are painful. Property taxes for example hit everyone regardless of income. Last year we paid $14k in property taxes for a 3 BR house we share with my daughter and her family. Well I guess we are lucky and could save that if we rented, right? Actually no. The real estate taxes on rental properties are even higher and those costs get passed on to the renters. So even if you can only afford a small studio or 1Br apartment, you are still effectively paying high property taxes.
What is your house valued at? I see so many discussions of property taxes here without mention of property values. You're going to pay more if your house is worth $500k or $5 million than if it's valued at $50k. OTOH - I do know that property taxes in some states are outrageous. That's why it seems like half of NJ is moving to where I live these days (our property taxes aren't cheap - but they're cheaper than in NJ). Robyn
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Old 03-16-2016, 04:23 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,929,938 times
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Quote:
Originally Posted by HappyTexan View Post
I was referring to the Federal level and income taxes. That's the cut off for "wealthy".

I lived in the Austin area. When I got my house in 1999 taxes were $2K.
In 2010 taxes were $7K.
I was out in the county though and got nothing for the tripling of property taxes.

I sold and left.
My property taxes are back to $2K.
My old home is up to $12K in property taxes.

And that was a custom home I had built. Only 2000 sq ft and it was $140,000 to build in 1999.

What happened there is Austin took off as a "hot city" and people from all over flocked there.
I took advantage of the RE bubble and cashed out.
Do you still live in Texas? If so - what part?

My husband and I have started to consider the possibility of moving elsewhere. Only no/low income tax states need apply . My husband recalled Austin fondly from a trip we took there about 7-8 years ago - but I told him the place had changed a lot since our last trip. And might not be a good fit for us today.

What's the market value of your old place in Austin where the property taxes are $12k? Must be quite a bit more than the $140k you paid to build it. Where we live - our property taxes are running about 1.5% assessed value/year. Robyn
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Old 03-16-2016, 04:35 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,929,938 times
Reputation: 6716
Quote:
Originally Posted by 46H View Post
People just need to be realistic. My siblings and most of the cousins in my generation went to private colleges and universities. The next generation of cousins is going to public universities. So far there are 2 CPAs and a Chem E, all working for big firms. We paid for 2/3 of my son's education and he paid for 1/3. We would not saddle him (or us) with the private school prices. We live in the NYC metro and with 2 working parents we did not qualify for financial aid. My son received a number of scholarship offers from decent private schools, but the numbers were still as much as 100% higher (or more) than what we paid for his public school.

The public universities are more competitive now as people cannot afford to drop $50k+ of after tax dollars when you can pay $18k to $28K for a great education.
Just FWIW - what you are talking about is an awful problem IMO. Especially the ridiculously low level of incomes where kids don't qualify for financial aid. My husband and I don't have kids. But are interested in education. So we are leaving most of our money to fund non-need based scholarships at the University of Florida. An excellent public university with somewhat reasonable costs. Our scholarships (and there should be quite a few) will go to the best qualified kids - even if their parents are middle class and their kids wouldn't qualify for financial aid under so-called "normal standards".

FWIW - this scholarship was originally at Cornell (where I went to school). But - at some point - Cornell told us we could only fund "need based" scholarships. Where the cut-off point was about $50-60k/year in family income. GMAFB. Robyn
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Old 03-16-2016, 04:37 PM
 
13,912 posts, read 7,405,593 times
Reputation: 25408
Quote:
Originally Posted by Robyn55 View Post
Florida pleads guilty to heat and humidity (even here in NE Florida during our long summer). Culture? What do you want? Even up here in JAX we have a symphony orchestra - lots of concerts in various flavors - all the shows you find in most cities outside of New York - etc.

As for healthcare - we're 10 minutes away from Mayo JAX. Where we get about 95% of our health care. Hard to beat that. Robyn
Plus all the tattoo parlors, strip bars, pawn shops, and title loan places.
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Old 03-16-2016, 04:42 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,929,938 times
Reputation: 6716
Quote:
Originally Posted by NewbieHere View Post
And crawling crocodiles or are they alligators? Yikes!
Mostly gators . Although you can find small crocodile populations in the extreme southern parts of the state:

American Crocodiles

Robyn
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Old 03-16-2016, 04:44 PM
 
Location: Myrtle Beach
1,499 posts, read 1,190,426 times
Reputation: 3790
32 Percent of Retirees get a pension
Income from Pensions | Pension Rights Center
ype of pension benefit

Median benefit, 2014

Private pensions and annuities

$9,227

Federal government pension

$22,537

State or local government pension

$14,158

Railroad pension

$23,992 (2013 data)

Military pension

$18,554

Veterans benefits

$12,553

- See more at: Income from Pensions | Pension Rights Center
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Old 03-16-2016, 04:46 PM
 
13,912 posts, read 7,405,593 times
Reputation: 25408
Quote:
Originally Posted by Robyn55 View Post
What is your house valued at? I see so many discussions of property taxes here without mention of property values. You're going to pay more if your house is worth $500k or $5 million than if it's valued at $50k. OTOH - I do know that property taxes in some states are outrageous. That's why it seems like half of NJ is moving to where I live these days (our property taxes aren't cheap - but they're cheaper than in NJ). Robyn
That's part of the driver for why I picked where I did to buy my summer house 6 1/2 years ago that will eventually be my retirement place. Massachusetts has a lightweight version of the California property tax limitation law. My town has a very large commercial tax base and a lot of gated summer community and oceanfront vacation home owners who all pay big property taxes with no load on the public school system. My property tax is a very California-like 1% of assessed value. I don't have the Florida/California protection against re-assessment, though.

I have lots of NYC tri-state friends who pay 2% to 2 1/2% on $750K to $1 million+ suburban homes. $750K is a fairly modest house in that part of the world in a town with a good school system and a commuter rail station.
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Old 03-16-2016, 04:49 PM
 
71,584 posts, read 71,751,865 times
Reputation: 49194
my son is in scarsdale in westchester . they have a commuter station and top school district and the highest taxes in the country . the houses are all in the million plus range unless they are in bad shape . then they get bought and knocked down .

everything in westchester is priced good-better-best in relation to the school district .
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