For those of you who've fled Illinois, where did you go? (wood floors, school districts)

[CGab]

Originally Posted by wheelsup

First living an hour outside Charlotte is probably in the boonies.

Different areas of NC have different property tax rates. Raleigh has a rate of roughly 1%. Durham is more. Areas outside cities are around .5-.75%. Charlotte has a rate approaching 1.4%.

NC readjusts property valuations every eight years so depending on your location your bill is going to go up significantly over the next couple years as appraisals readjust.

For those belly aching over a 4.95% income tax rate, until recently NC was at 7.75% and was reduced three years ago to 5.75%. My wife and I pay more in NC income tax than our entire mortgage payment on a 15-year loan.

Yes her lives in a pretty rural area, my point being he also has 5 acres of land!

[numberfive]

Originally Posted by wheelsup

For those belly aching over a 4.95% income tax rate, until recently NC was at 7.75% and was reduced three years ago to 5.75%. My wife and I pay more in NC income tax than our entire mortgage payment on a 15-year loan.

If you're just looking at one tax area, you're not getting the whole picture. The bellyaching is about the overall tax burden, not just property tax or income tax or sales tax or business tax or any other individual tax. And not to beat a dead horse here, since this has been covered multiple times in this thread, but the overall tax burden in Illinois is one of the highest in the country.

[wheelsup]

Originally Posted by numberfive

If you're just looking at one tax area, you're not getting the whole picture. The bellyaching is about the overall tax burden, not just property tax or income tax or sales tax or business tax or any other individual tax. And not to beat a dead horse here, since this has been covered multiple times in this thread, but the overall tax burden in Illinois is one of the highest in the country.

Tax burden is relative. It depends greatly on the value of the home you live in and your household income as well as the value of your other property like cars. In NC we pay a lot more tax overall because of the high income tax rate despite our modest property tax and old cars. A retiree moving from our of state, downsizing, would pay very little overall tax if they live in a smaller home in NC due to their (most likely) reduced income.

If you're going to make the move and you have an above average income I would be looking at TN, TX, FL, WA, etc. Live in a state with zero income tax.

[damba]

Originally Posted by wheelsup

First living an hour outside Charlotte is probably in the boonies.

.

That is an understatement

[wheelsup]

Originally Posted by CGab

Yes her lives in a pretty rural area, my point being he also has 5 acres of land!

What's your point? You can get 40 acres in NM for $20k.

[wheelsup]

Originally Posted by damba

That is an understatement

Depends on the traffic and which direction.

[numberfive]

Originally Posted by wheelsup

Tax burden is relative. It depends greatly on the value of the home you live in and your household income as well as the value of your other property like cars. In NC we pay a lot more tax overall because of the high income tax rate despite our modest property tax and old cars. A retiree moving from our of state, downsizing, would pay very little overall tax if they live in a smaller home in NC due to their (most likely) reduced income.

If you're going to make the move and you have an above average income I would be looking at TN, TX, FL, WA, etc. Live in a state with zero income tax.

The rankings linked earlier in this thread already account for local income. Even after considering the pay differences, Illinois is still in the top 10 most heavily taxed in the country.

And it's about the overall tax burden, not just income tax.

[Happy in Wyoming]

Originally Posted by numberfive

The rankings linked earlier in this thread already account for local income. Even after considering the pay differences, Illinois is still in the top 10 most heavily taxed in the country.

And it's about the overall tax burden, not just income tax.

Here's a list of the total tax burden of all the states:

https://www.forbes.com/pictures/552e.../#2eeba8e85e13

[wheelsup]

Originally Posted by numberfive

The rankings linked earlier in this thread already account for local income. Even after considering the pay differences, Illinois is still in the top 10 most heavily taxed in the country.

And it's about the overall tax burden, not just income tax.

Again I'm not referring to COL adjustment to income.

I'm talking about a family who earns more than the average income will be disproportionally hit by an income tax. I don't know how to explain it more simply than that.

Each family has to do the calculations for themselves based upon their lifestyle choices. You can't just reference a chart that averages out the tax burden. Some are obvious, high income tax and high property tax, some are less so.

[numberfive]

Originally Posted by Happy in Wyoming

Here's a list of the total tax burden of all the states:

https://www.forbes.com/pictures/552e.../#2eeba8e85e13

Looks like your link is outdated. Tracing back to the source data, Illinois carries the fifth highest tax burden in the entire country.

Source

We're just splitting hairs at this point though. There's no disputing it, taxes here are absurdly high. What could be your wealth ends up being more politician's wealth instead.