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Old 08-16-2017, 07:47 AM
 
Location: Forests of Maine
30,680 posts, read 49,443,611 times
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Quote:
Originally Posted by thinkalot View Post
You have to break it down from the state level. I can drive 3 miles and the sales tax goes up 3%. I can drive 2 miles and the property tax doubles.
In our state, property taxes are done more by town. The town immediately to our West has double our mil-rate. The town to our South has triple our mil-rate.

A 2400 sq ft 2bdrm is taxed $600 in our town, $1200 or $1800 in adjacent towns within a 5 mile radius.
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Old 08-16-2017, 07:56 AM
 
1,321 posts, read 646,553 times
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Quote:
Originally Posted by Submariner View Post
In our state, property taxes are done more by town. The town immediately to our West has double our mil-rate. The town to our South has triple our mil-rate.

A 2400 sq ft 2bdrm is taxed $600 in our town, $1200 or $1800 in adjacent towns within a 5 mile radius.
Thanks for clearing that up. Always confused me. Taxes in NC and FL vary, and that`s even in the same community. LOVE MAINE! Will be in Wells next month. Looking forward to some great fried clams
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Old 08-16-2017, 11:41 AM
 
8,195 posts, read 11,911,100 times
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Quote:
Originally Posted by Crashj007 View Post
I would not live in Florida based on income taxes, I would avoid Florida because of sinkholes and the heat.
North Carolina is nicer on both counts. Check, but I think our sales and gasoline taxes are lower.
I guess that depends on where one lives in NC or FL. For example, the state sales tax in FL is 6% and counties can add another 1% making a maximum of 7%. While NC's tax rate is only 4.75%, counties can add much more. Wake county's total tax rate is 7.25% and Durham's is even higher at 7.5%, both of which exceed anything in the state of Florida.

Moreover, people in Florida can deduct their sales taxes from their federal returns whereas people in states with state income taxes can't do so (unless they choose to deduct sales taxes instead of income taxes).


Quote:
Originally Posted by Escort Rider View Post
... For example, you couldn't PAY me enough money to live in Florida. I would much rather live like I now live (fairly modestly) in California than have an income of $ one million a year and live in Florida. The decision wouldn't even be close.
Good. It doesn't sound like we'd want you here anyway.
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Old 08-16-2017, 02:10 PM
 
1,832 posts, read 786,064 times
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Quote:
Originally Posted by Escort Rider View Post
Unless you have lots of income in a state with high income taxes, the lack of same in places like Florida and Tennessee will likely be counter-balanced by other taxes and other factors, such as property taxes and homeowner insurance rates. There really is no free lunch.


For example, California has the highest marginal income tax rate in the nation at 13%. That sounds horrendous, but it only applies to that portion of income which exceeds one million dollars. For most of us (and most of us are NOT fat cats) the rates are much more reasonable.


I have never quite understood selecting a place to live based on taxes. It seems to me living in a place where you enjoy the climate and enjoy the other factors would trump all the quibbling about taxes. For example, you couldn't PAY me enough money to live in Florida. I would much rather live like I now live (fairly modestly) in California than have an income of $ one million a year and live in Florida. The decision wouldn't even be close.
Yep, people should live where they are most comfortable I live in Florida and though I love to visit California I do not wish to live there. Grew up in New England and have no desire to move back. Florida has been a good move but then I'm on the east central coast and not near too much traffic. It's pretty comparable to where I lived in South Carolina traffic wise.
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Old 08-16-2017, 05:48 PM
 
Location: Los Angeles area
14,018 posts, read 17,735,102 times
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Quote:
Originally Posted by MadManofBethesda View Post
.............................




Good. It doesn't sound like we'd want you here anyway.

Oh, I sure you wouldn't!
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Old 08-16-2017, 05:58 PM
 
2,772 posts, read 993,967 times
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First off I currently live in Florida.
Pros- no state tax, beaches, no snow
Cons- heat, insurance costs, traffic

The east coast if you are by the water is cooler than inland. Miami Beach in summer is cooler than Orlando and Gainesville which are central and northern.
Property taxes are capped and can't increase by a % per year. So if you have lived here for awhile it could actually be lower than if you moved to NC or SC.

I love the NC mountains but NC taxes pensions and IRA distributions. So if I love the mountains I much rather look at Tennessee and Georgia over NC

SC can be very hot in summer even hotter than the Florida coast. I have spent time around Clemson area in summer and it was worse than I have ever experienced in Miami Beach

I do agree with the poster that you should choose where you are happier as long as living there don't bankrupt you. But if you can handle paying a bit more to live in a place you like better, I would go for it.

As for sink holes those are mainly in the central and west central part of Florida. It's overblown.
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Old 08-16-2017, 11:15 PM
 
780 posts, read 796,866 times
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I live in Florida. Not sure about low sales tax. We pay almost 7%. There is no State tax but property taxes cost us about $2,400 a year. We live about 6 miles from the water so we don't have to pay flood insurance.

We lived in Westchester, NY for over 40 yrs and paid $24,000 a year in property taxes. So, to us, Florida is a bargain.
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Old 08-17-2017, 03:28 AM
 
Location: SW Corner of CT
1,948 posts, read 1,536,337 times
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Quote:
Originally Posted by macyny View Post

We lived in Westchester, NY for over 40 yrs and paid $24,000 a year in property taxes. So, to us, Florida is a bargain.
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Old 08-17-2017, 03:53 AM
 
Location: New York
831 posts, read 653,672 times
Reputation: 1536
Quote:
We lived in Westchester, NY for over 40 yrs and paid $24,000 a year in property taxes. So, to us, Florida is a bargain.
Living that tax nightmare now in westchester! 24 months to go to freedom.
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Old 08-17-2017, 06:45 AM
 
1,321 posts, read 646,553 times
Reputation: 4216
Thanks for all you reply's! They are really appreciated
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