[norcal2k19]

Originally Posted by BobNJ1960

Corps are too logical to choose those cities.

Norwalk, Stamford, & Greenwich are the prudent options to select for a solid corp. Each features excellent office parks, with fully developed shared services, a skilled workforce in the city itself (yes, corps poach talent from neighbors), plus a solid system of shuttles from local Metro North stations.

It would be reckless for a corp either relocating or adding office space to select the cities you mentioned above the 3 I just did.

If we wish corps to relo in less desirable cities, we must bribe them with massive tax incentives. We could do it, if the cities you listed would keep their spending under control, as they could then offer a multi-year tax abatement (property tax) to move there.

High-paying biotech jobs are coming to New Haven. I'm tired of people trashing our cities. New Haven and Stamford are the two urban hubs of this state and they are growing.

[ConnecticutSir]

BREAKING: Global manufacturer ITT Inc. moving Headquarters from NY to Stamford

Article: https://www.wtnh.com/news/business/i...y-to-stamford/

ITT Inc. doesn't quite make the Fortune 500, but they're close. Currently, they're #849 which is still a big deal.

[mdovell]

With respect to prices I was paying $800 in springfield annually for car insurance, in CT it's about $1,000. Mandatory coverage in CT is often optional in Mass.

As for taxes.

My house in CT
Made in 1900
2,304 sq ft
Lot size 16988
3 bedroom 1 bath
Bought at $154K last January
My taxes $4,100

My parents in Mass
Made in 1993
1,892 sq ft
Lot size 40000
6 bedroom 1.5 bath
Currently worth maybe $550,000. Assessment is $450K and generally houses go for 25-33% more than assessment as a range
Their taxes $6,600

So yeah relative to price CT *obviously* costs more. I have 400sq more than them and a lot size of about half. So size wise I'm paying less but not when it comes to actual house value. Their house is worth 3.5 times mine yet my tax is only 62% of what they pay. Valuation relative to taxes that would mean if my house was there the taxes would be $1,885 vs $4,100. It's literally double when you look at value that's the impact of prop 2 1/2. A few grand might not seem like that much of a difference but compounded to a retiree it can which is why it was put in place to begin with (started in CA with prop 13)

Cities in CT do need investment. New Haven I've always liked, there's a vibe there and a atmosphere that's hard to replicate. Having said this bribing with lower taxes doesn't always help.

[masssachoicetts]

Originally Posted by mdovell

With respect to prices I was paying $800 in springfield annually for car insurance, in CT it's about $1,000. Mandatory coverage in CT is often optional in Mass.

As for taxes.

My house in CT
Made in 1900
2,304 sq ft
Lot size 16988
3 bedroom 1 bath
Bought at $154K last January
My taxes $4,100

My parents in Mass
Made in 1993
1,892 sq ft
Lot size 40000
6 bedroom 1.5 bath
Currently worth maybe $550,000. Assessment is $450K and generally houses go for 25-33% more than assessment as a range
Their taxes $6,600

So yeah relative to price CT *obviously* costs more. I have 400sq more than them and a lot size of about half. So size wise I'm paying less but not when it comes to actual house value. Their house is worth 3.5 times mine yet my tax is only 62% of what they pay. Valuation relative to taxes that would mean if my house was there the taxes would be $1,885 vs $4,100. It's literally double when you look at value that's the impact of prop 2 1/2. A few grand might not seem like that much of a difference but compounded to a retiree it can which is why it was put in place to begin with (started in CA with prop 13)

Cities in CT do need investment. New Haven I've always liked, there's a vibe there and a atmosphere that's hard to replicate. Having said this bribing with lower taxes doesn't always help.

CT really needs to fix the property tax situation. 4100 for a 154k home? Thats insane. There was a property in Hartford my parents were eyeing at 100k roughly. Property taxes were over 3k...I just dont understand with such high taxes across the board, sales, income, property, vehicle, etc .. CT is still struggling/increasing taxes. it makes no sense.

A 20,000 car easily pays 500 a year in property taxes on the car...

[BobNJ1960]

Originally Posted by norcal2k19

High-paying biotech jobs are coming to New Haven. I'm tired of people trashing our cities. New Haven and Stamford are the two urban hubs of this state and they are growing.

They are coming to New Haven , but most non biotech corps go to Norwalk & Stamford, as each has a great corporate set of amenities. Scinto in Shelton, Merritt7's developer, Stamford new office park developers did a sensational job. The reality is older industrial cities such as those you mention cannot usually compete with that.

[BobNJ1960]

Originally Posted by ObedientSir

BREAKING: Global manufacturer ITT Inc. moving Headquarters from NY to Stamford

Article: https://www.wtnh.com/news/business/i...y-to-stamford/

ITT Inc. doesn't quite make the Fortune 500, but they're close. Currently, they're #849 which is still a big deal.

Nice. I hope we keep raiding NY! It is ripe for the plucking!

[wp169]

is is true if you move out of CT you still have to pay taxes to CT?

[BobNJ1960]

Originally Posted by wp169

is is true if you move out of CT you still have to pay taxes to CT?

only for income earned while a Ct resident, or prorated property taxes while you own personal property registered in the state.

[masssachoicetts]

Originally Posted by JayCT

Here we go yet again. As I have shown here REPEATEDLY, property taxes on comparable homes in comparable communities are no higher in Connecticut than Massachusetts. Proposition 2 1/2 did little to keep property taxes in Massachusetts especially since the state has granted thousands of exceptions to the law over the years. Local rule and political accountability have kept most Connecticut town taxes in check.

Also I find it very hard to believe your car insurance rates went up simply because you moved, especially if you moved from an urban area to a rural suburban one. Connecticut is not known for high insurance rates.

As CT Yank noted, taxes in Massachusetts are hardly that much lower than Connecticut. GE did not mention taxes as a reason for their corporate headquarters move when they easily could have. Also note that GE only moved 200 corporate jobs to Boston out of 900 in their Fairfield headquarters. They moved 600 of those jobs to Norwalk. If taxes was the reason, all of the jobs would have been moved.

Furthermore I have no idea what your point is about major employers here being headquartered in other states. This is very common even in Massachusetts. And corporate buyouts are not uncommon either, again even in Massachusetts. It’s modern American business.

Connecticut just had two major company relocation/expansion announcements this week. If our taxes were so high, why are they coming here?

I also don’t see why the Hartford Courant being printed in Springfield matters. It’s only about five miles from the Connecticut border. That invisible line means little. Jay

Thats not true. Maybe comparable homes pound for pound in the blue chip, world class, mega million Boston suburbs like Wellesley or Lexington where a simple 3 bed 3 bath goes for 1.5mil, might have a bit over 12k in property taxes per year. The equivalent 400k home in a boujee Hartford or New Haven suburb may have 12-18k in property taxes. But that is even a drastic example. After months of looking for hoes really anywhere in CT, my parents have really found it to be a lot less of a burden just over the border in MA where taxes seem to be 1/2 as much around the Westfield, Springfield and Northampton areas.

However, I do agree with the remainder of your post. While CT lost GE to MA, it is gaining companies left and right from NYC, NJ and even small companies from CA. Since COVID, its definitely been a net plus for CT. Personal taxes just need heavy fixing in CT...

[BPt111]

Originally Posted by BobNJ1960

They are coming to New Haven , but most non biotech corps go to Norwalk & Stamford, as each has a great corporate set of amenities. Scinto in Shelton, Merritt7's developer, Stamford new office park developers did a sensational job. The reality is older industrial cities such as those you mention cannot usually compete with that.

Stamford should be CT unofficial largest city