Moving from Ohio to Kentucky (Newport, Alexandria: sales, real estate, car insurance)

[miggyt4]

Hi, we are considering purchasing a home in Northern Kentucky, Highland Heights area. We have heard awful things concerning the taxes in Kentucky as compared to Ohio. I keep telling myself that although car insurance and car renewal may be more expensive than Ohio, in general, living in Kentucky is cheaper than living in Ohio. Can anyone put my mind to rest on our decision to move to Northern Kentucky.

Thank you!!

[RuralGuy]

Kentucky has a higher income-tax rate, but, in general, property taxes tend to be substantially lower. Also, the sales tax is lower. Cost of living in Highland Heights will be comparable to more developed areas of Ohio.

The biggest complaint I hear from people that move here from out of state is that you have to pay an annual property tax on vehicles (the amount decreases as the car depreciates).

Overall, I think it all balances out and that you'll probably find it slightly cheaper than Ohio.

There's some good KY tax information at this site: The Tax Foundation - Tax Data for 30 (http://www.taxfoundation.org/taxdata/topic/30.html - broken link)

[miggyt4]

Thanks for the reply. I'm hoping to hear from more of you. I know upfront that you pay more in car renewal. The link provided is very handy, especially when I compare Ohio to Kentucky. To rephrase what I said originally, I'm not too concerned with it being cheaper, I just want to know I made a good decision. I work in downtown Cincinnati and Highland Heights is the perfect area for me.

[RuralGuy]

Well, I'm biased toward Northern Kentucky since I live there (albiet at the southern fringe of the the region), so I will have to applaud your selection.

What part of Highland Heights--closer to Cold Spring and NKU or closer to Ft. Thomas?

[miggyt4]

Closer to Cold Spring and NKU. I love the fact that I can be on 275/471 in less than 5 minutes. I wish I was already living in NKY b/c it would've saved me about an hour this morning on my commute to work. I currently live in a suburb on the eastside of Cincinnati...Amelia area.

Also, can anyone comment on TANK. I currently take Metro to work via a Park and Ride and love it and I am planning on using the TANK system once we move to NKY.

[RuralGuy]

Originally Posted by miggyt4

Closer to Cold Spring and NKU. I love the fact that I can be on 275/471 in less than 5 minutes. I wish I was already living in NKY b/c it would've saved me about an hour this morning on my commute to work. I currently live in a suburb on the eastside of Cincinnati...Amelia area.

Also, can anyone comment on TANK. I currently take Metro to work via a Park and Ride and love it and I am planning on using the TANK system once we move to NKY.

Sorry to be the only one replying. The TANK line runs on US-27, including old Alexandria Pk through Ft. Thomas, South Gate, and Newport. There may be an express line as well that skips those towns I mentioned and goes directly down I-471. But to be honest, I don't recall seeing TANK buses on I-471 (I drive 27/I-471 to and from work every day). There are Park and Ride lots up and down US-27 if you live too far from the bus line to walk. Not sure what the frequency of buses is, or the cost.

I work downtown, too, and my drive on a good day takes an hour (I live about 40 miles away from Cincinnati). With the snow today, it took more than 90 minutes, nearly 30 minutes of which I spent slugging through congestion on the last seven miles of the trip down I-471.

[censusdata]

RuralGuy... were you in Falmouth during the 1997 Flood...if so did you suffer any damage?

I'm thinking about 80% of Falmouth proper was under water. I had a sister living in the Butler area at the time, and even though her house was on a hill and didn't flood, they lost all running water for 2 weeks and school was canceled for several months

[RuralGuy]

Originally Posted by censusdata

RuralGuy... were you in Falmouth during the 1997 Flood...if so did you suffer any damage?

I'm thinking about 80% of Falmouth proper was under water. I had a sister living in the Butler area at the time, and even though her house was on a hill and didn't flood, they lost all running water for 2 weeks and school was canceled for several months

No, we moved to Pendleton County in 1999. But my in-laws lived in the area during the flood. My father-in-law's mom and brother lived right in Falmouth. His mom's house was completely under water, and his brother was one of the three people who died in the flood (he was asleep in his mobile home when the waters swept it away).



My in-laws have a house in Butler that also was devastated (it's only about 100 feet from the river). Cleaning that one up was fun--we had to shovel out 8-10 inches of mud, then basically gut the interior down to the studs. My brother-in-law lives there now.

I presently live about five miles outside of Falmouth, but my home is high on a ridge so flooding isn't an issue.

A lot of people thought Falmouth would die after the flood, but surprisingly most businesses rebuilt immediately. The population in town is still slightly lower than it was before the flood, but a lot of new homes have been built on higher ground immediately outside of town and the county's population as a whole has grown.

[brokermy]

Originally Posted by miggyt4

Hi, we are considering purchasing a home in Northern Kentucky, Highland Heights area. We have heard awful things concerning the taxes in Kentucky as compared to Ohio. I keep telling myself that although car insurance and car renewal may be more expensive than Ohio, in general, living in Kentucky is cheaper than living in Ohio. Can anyone put my mind to rest on our decision to move to Northern Kentucky.

Thank you!!

I moved to Kentucky from Ohio last year. The KY income taxes and personal property taxes on automobiles are significantly higher than OH. Also, car insurance is higher as well because KY is a "no fault" state. Real estate taxes are lower but there is a catch. Most of my neighbors have the extra expense of sending their children to a private school instead of the public schools. So many times what you save in real estate taxes is lost to tuition for a private/parochial school. Other prices in NKY are similar to OH and the sales tax is exactly the same so there is no break there.

City income taxes are lower in KY but since you pay city income taxes to the municipality you work, this won't change for you. You will still pay City of Cincinnati taxes if you work downtown.

That being said you seem to be in same boat as I was. Gas prices were the driving force for me. I was commuting 40 miles a day and my wife was commuting 60 miles a day. Now we are combined 40 miles a day; saving 60 miles a day. That not only saves in gas but also in wear and tear on the car. The TANK will probably be a great option for you if you work downtown.

Also, I would expect real estate values to go up in the area because of the development on the river (the Banks, Newport, etc.) and the proximity to downtown Cincinnati.

As the other person responded, it all evens out in my opinion. But we are 100% satisfied with our move to KY. Welcome to the neighborhood!