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Old 07-15-2012, 01:43 PM
 
86 posts, read 163,667 times
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How is the cost of living in Atlanta? I see that I can get a nice sized house at a good price with fairly reasonable real estate taxes compared to where I am now. DC area/MD suburbs. But what about other areas? I noticed that income tax in GA is 6% compared to MD at 4.75% and supposedly MD is awful with tax rate. Sales tax is 6%, 7% or 8% in the area and MD is 6%, DC is 5.75% (I think, but I know they add a food tax when you go out to eat). Gas prices? Basic grocery prices? Etc... Is there a website that compares different factors across the country?

I was thinking that Atlanta was so much lower but factoring some of the prices/taxes of things in Atlanta coupled with a lower salary, I am confused. Just trying to figure this out as I am not familiar with the cost of living in Atlanta. Right now all my husband sees is a lower mortgage and not really thinking about the big picture. Maybe the lower mortgage is the big picture and I am just being negative that the cost of living isn't as low as he thinks. I'm not sure.
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Old 07-15-2012, 04:22 PM
 
Location: Marietta, GA
7,887 posts, read 17,117,626 times
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The cost of living in Atlanta is relative to other states and parts of the country. Housing, auto and home insurance, and most taxes are less than many other parts of the country. You will not find many large metro areas with better home prices and value for your money.

The state income tax is about a 5.5% effective rate for most people, when you take deductions and exemptions into account, including the ability to deduct state income tax on your federal return. The top marginal rate is 6%, but you hit that very early on.

Property taxes are levied by the county or city, with a very small property tax tacked on by the state. Typically you can estimate your property tax at about 1% the value of the home.

Sales tax is 4% statewide, with each county being able to also levy up to 2 additional local option 1% taxes if approved by voters. In my county (Cobb), we have two 1% local option taxes on top of the 4% state sales tax. One is for transportation/roads, and the other is for education/schools. In Fulton and Dekalb counties, they also pay a 1% sales tax that was voted for by residents to support MARTA. Sales tax here is levied on all purchases, except for the 4% state tax which is exempted for food purchases at the grocery store. You pay the local option taxes even on food.
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Old 07-15-2012, 05:31 PM
 
369 posts, read 654,685 times
Reputation: 229
Quote:
Originally Posted by bsharynu View Post
How is the cost of living in Atlanta? I see that I can get a nice sized house at a good price with fairly reasonable real estate taxes compared to where I am now. DC area/MD suburbs. But what about other areas? I noticed that income tax in GA is 6% compared to MD at 4.75% and supposedly MD is awful with tax rate. Sales tax is 6%, 7% or 8% in the area and MD is 6%, DC is 5.75% (I think, but I know they add a food tax when you go out to eat). Gas prices? Basic grocery prices? Etc... Is there a website that compares different factors across the country?

I was thinking that Atlanta was so much lower but factoring some of the prices/taxes of things in Atlanta coupled with a lower salary, I am confused. Just trying to figure this out as I am not familiar with the cost of living in Atlanta. Right now all my husband sees is a lower mortgage and not really thinking about the big picture. Maybe the lower mortgage is the big picture and I am just being negative that the cost of living isn't as low as he thinks. I'm not sure.
That's actually not correct. Maryland's State Individual Income Tax Rates can go as high as 5.5%. You are forgetting each county adds their own Individual Income Tax. For example Montgomery and Baltimore City adds 3.20% on top of the top state rate of 5.5% (I think they actually added .25% in the last session for people making over 100k). So you can be paying almost 10% in Individual Income Taxes. This also part of the reason Maryland is considered anti-business and no large corporation has moved there out the 5 that have come to the D.C. area in last 5 years and Baltimore doesn't have anymore fortune 500 companies. No CEO wants to pay nearly 10% in State Individual Income Taxes when they can pay 5.5% on the other side of the Potomac.

In Georgia it's 6% top rate period.

D.C. sales tax is 6% not 5.75%

I agree that the sales taxes are high in the Atlanta area though but at least you can order things online to by pass that entirely. I also don't think there are taxes on things like food/groceries.
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Old 07-15-2012, 06:54 PM
 
86 posts, read 163,667 times
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Helpful information.
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Old 07-15-2012, 07:05 PM
 
37,789 posts, read 41,472,106 times
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Quote:
Originally Posted by readyset View Post
Baltimore doesn't have anymore fortune 500 companies.
It's got one: Fortune 500 2012: States: Maryland Companies - FORTUNE on CNNMoney.com

But didn't know B-more had lost companies like that...interesting.
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Old 07-15-2012, 07:10 PM
 
Location: ๏̯͡๏﴿ Gwinnett-That's a Civil Matter-County
2,118 posts, read 6,344,097 times
Reputation: 3547
Quote:
Originally Posted by readyset View Post
I also don't think there are taxes on things like food/groceries.
Uh. Yeah there is.

It's less than sales tax but it's taxed none the less. "food tax".

---------------

Bsharynu...
Look up gas prices on GasBuddy. There's an app too. You will find ours to be cheaper except for maybe in-town gas stations. Then again you will probably use more gas getting around.

I think you will end up saving a smidgeon on utilities tho.

All in all, cost of living is about the same but housing prices and income tax and property tax is where the major difference comes in.
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Old 07-15-2012, 07:14 PM
 
369 posts, read 654,685 times
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Quote:
Originally Posted by Mutiny77 View Post
It's got one: Fortune 500 2012: States: Maryland Companies - FORTUNE on CNNMoney.com

But didn't know B-more had lost companies like that...interesting.
Na Constellation Energy is gone. The crummy CEO has been trying for years to sell the company and he finally got his way. It's in the final stages of being bought out by chicago-based Exelon.

No more Fortune 500's in the City of Baltimore.
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Old 07-15-2012, 07:23 PM
 
7,112 posts, read 10,082,512 times
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Just Google Cost of Living Calculator. For example

Cost of Living Calculator: Compare prices in two cities - CNNMoney
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Old 07-15-2012, 07:24 PM
 
37,789 posts, read 41,472,106 times
Reputation: 27042
Quote:
Originally Posted by readyset View Post
Na Constellation Energy is gone. The crummy CEO has been trying for years to sell the company and he finally got his way. It's in the final stages of being bought out by chicago-based Exelon.

No more Fortune 500's in the City of Baltimore.
Oh wow....had no idea that was the situation in B-more. Not good. So as of now, all of the state's F500 companies are in the DC 'burbs.
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Old 07-15-2012, 07:24 PM
 
86 posts, read 163,667 times
Reputation: 21
MD doesn't have a grocery tax and it doesn't tax on prescription drugs either. But, I think the difference in the housing and r/e tax and possibly a tad on income tax (still not confident that GA will be better) would probably still put us ahead in Atlanta for cost of living. Husband currently commutes via metro to work and company pays that metro fare, so that part will go up as he will probably drive or if we do live by MARTA, unsure if employer pays that too.

I'm definitely getting the gas app. Pretty cool.
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