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Old 05-08-2012, 11:26 AM
 
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Keep in mind that CA taxes all pensions, where NY State gives you a $20k allowance before any tax. That can make a big difference to some people.
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Old 05-08-2012, 11:53 AM
 
Location: Santaluz - San Diego, CA
4,498 posts, read 8,974,540 times
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Originally Posted by loveautumn View Post
Keep in mind that CA taxes all pensions, where NY State gives you a $20k allowance before any tax. That can make a big difference to some people.
Exactly! That's why I mentioned that I don't think there will be any tax savings from moving to California. It's a very tax unfriendly state. The ONLY tax that I thought was reasonable was the annual 1% property tax. Compared to other areas that are higher. They rape you in Texas on property taxes. Although you do have some more taxes if you move to a Mello Roos area. Many retirees move to other places that are much tax friendlier, although I don't think the quality of life is nearly as high as San Diego if you can afford it.

Last edited by earlyretirement; 05-08-2012 at 12:34 PM..
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Old 05-08-2012, 11:59 AM
 
Location: 92037
4,630 posts, read 9,770,341 times
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Originally Posted by earlyretirement View Post
Exactly! That's why I mentioned that I don't think there will be any tax savings from moving to California. It's a very tax unfriendly state. The ONLY tax that I thought was reasonable was the annual 1% property tax. Compared to other areas that are higher. They rape you in Texas on property taxes. Although you do have some more taxes if you move to a Mello Roos area. Many retirees move to other places that are much friendlier, although I don't think the quality of life is nearly as high as San Diego.

Mello-Roos Is Deductible Now | bubbleinfo.com

Read this recently. Not sure of its legitimacy, but seems relevant to this thread.
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Old 05-08-2012, 01:10 PM
 
Location: Santaluz - San Diego, CA
4,498 posts, read 8,974,540 times
Reputation: 2004
Quote:
Originally Posted by shmoov_groovzsd View Post
Mello-Roos Is Deductible Now | bubbleinfo.com

Read this recently. Not sure of its legitimacy, but seems relevant to this thread.
Yes, it's true Shmoov. But I think many people have been claiming this deduction for years. California tried telling people it wasn't deductible all these years and supposedly spent a lot of money upgrading their computer system recently to ensure that people weren't deducting it only to turn out that it has been deductible and will be in the future.

I guess every little bit helps...
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