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Old 09-15-2017, 08:41 AM
 
312 posts, read 352,782 times
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My family's trying to decide whether to move to upstate NY (Albany area) or VT. We currently live in VA where the cost of living appears to be considerably lower than both. We're a single income family (my husband's an engineer, I homeschool our four kids), so money, while not necessarily tight, isn't abundant. I'm a little concerned that a move to a state where the cost of living is higher, but the jobs don't pay any better (this seems to be especially true in VT) might put us in a money crunch.

From time to time, I come across a statement, usually embedded in a thread, that talks about certain financial advantages that might be exclusive to VT (lower state income tax below a certain salary level, incentives for owning property and keeping it wild, etc.). We could use those!

I think we would probably like living in VT better than NY, but NY is closer to family, so, theoretically at least, we should probably move there. BUT, if VT worked out better for us financially, it might give us the incentive we need to make the choice we want (right now, proximity to family and free college tuition at state schools in NY is winning in the "responsible decision" category).

So, can anybody list some of the financial incentives that might come with living in VT or point me in the direction of a website where I might get more information? My forum searches aren't getting me very far.

Thanks!
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Old 09-15-2017, 08:55 AM
 
Location: Vermont
3,457 posts, read 10,237,794 times
Reputation: 2450
You can get a property tax adjustment if your income is below a certain level (I believe it is around $120K right now)

Property Tax Adjustment Claim | Department of Taxes

Income tax rates:
http://tax.vermont.gov/research-and-...dual-tax-rates
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Old 09-15-2017, 09:13 AM
 
312 posts, read 352,782 times
Reputation: 322
Wow, nice! Thank you.
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Old 09-15-2017, 09:25 AM
 
2,669 posts, read 2,604,799 times
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A job, not just getting one up front but being able to find another locally in case of layoffs, is something to consider. Having to move again in a few years because of a layoff and lack of similar jobs in the area is no fun. Good luck, whatever you decide ☺
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Old 09-15-2017, 10:52 AM
 
312 posts, read 352,782 times
Reputation: 322
Thank you! Yes, that's something we're conscious of. There have been a lot of places I've been eager to move that my husband has put the kibosh on because he said there wouldn't be any other possibilities in the area. We tend to be cautious. That's why--despite my best efforts, we haven't moved in nine years.
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Old 09-15-2017, 11:06 AM
 
Location: Retired in VT; previously MD & NJ
14,267 posts, read 6,906,900 times
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So if you moved to an area that has excellent schools, would you still home school your children, or perhaps go to work part time during school hours? That could change the dynamic, plus you will be contributing to your own Social Security (future, important consideration).

Are you in Northern VA? Or in a more rural area now? Northern VA has way more engineering possibilities than any rural area in VT or NY.

Where has your husband found the best engineering jobs? And the most engineering companies for future job changes? That has to be your priority for anywhere you move to.
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Old 09-15-2017, 01:35 PM
 
Location: Southern VT
47 posts, read 61,347 times
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If there's any possibility of bringing a job with you and telecommuting do it! Jobs do not pay well in VT and are not comparable to the cost of living. I think you'd find this to be true in rural upstate NY and rural New England as well.

We live in SW VT and both work over the line in MA and NY, because those states pay more. A 30 min to one hour commute isn't bad if you're telecommuting a few days a week. Really depends what you want 1) Live in/near an urban area, get higher pay, pay more for housing, less time commuting, less open space. 2) Live in the country, commute to urban core for job, pay less for housing, more time commuting, more open space.
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