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If you work in the city and live in LI, do you still have to pay city taxes? For 150k, that's about 4% of your income ( = 6000$ a year just for city taxes). That's 500$ a month that could potentially go towards rent.
Your take home after taxes should be about 7k a month. If you can increase your rental budget to 2500, you can find something a nice 2bed one bath in Great Neck, avoid paying city taxes, and still have a great commute ( 25 minutes to Penn station).
OP, property tax here isn't like council tax in the UK. it's only paid by the owner of the property.
I would look in NW Nassau/NE Queens as well. To get a yard here you generally need to rent a house--you will find the occasional conversion where the ground floor has the yard, but they're less common. Apartments here are more likely to be purpose built. Dishwashers are more common than washing machines in apartments here, by the way, and if a washer isn't included you usually won't be permitted to install one. BTW, a New York "unfurnished" rental includes appliances.
Your taxes will be a bit lower than they were in the UK (assuming a similar salary level) but your health insurance premium will eat that up, so count on a similar level of net pay.
WJFM, there is no longer a commuter tax. NYC income tax is only charged on residents.
Elke, quarantine only applies to animals going into the UK and there is a new procedure by which it can be eliminated (PETS scheme). I did it 5 years ago, though it took 6 months coming from the US--but she went straight through the ARC at Heathrow.
WJFM, there is no longer a commuter tax. NYC income tax is only charged on residents.
You're right, the commuter tax was eliminated years ago, although there is talk about resurrecting it.
But Queens is part of NYC, so the OP would be subject to the NYC income tax if living there.
Then again, one possible $$ advantage could be public transportation via bus or subway rather than the LIRR... Don't know about QOL - depends on what one is looking for and where.
Elke, quarantine only applies to animals going into the UK and there is a new procedure by which it can be eliminated (PETS scheme). I did it 5 years ago, though it took 6 months coming from the US--but she went straight through the ARC at Heathrow.
Thanks for the update, AlexisT! It's been a while since I had to deal with that.
Queens would mean more income tax, but there is a much larger selection of rentals available, and sometimes better prices. You would pay about $100pw in city tax on that salary.
I wouldn't make the decision solely on the basis of city income tax.
One other thought comes to mind - since the OP is retaining their residence abroad, they may be considered a resident of that country which would make their foreign income subject to UK taxation. I suggest the OP get tax advice to confirm the tax implications before making any assumptions.
Very good and interesting point, I will look in to it. Blowing dust off the brain cells I vaguely recall one is allowed to stay upto 3 mths residency a year before paying income tax but I could be completely wrong. I'll definitely look in to it though as we'll have to send money back to the UK to pay the mortgage here.
Quote:
Originally Posted by jpg71
One other thought comes to mind - since the OP is retaining their residence abroad, they may be considered a resident of that country which would make their foreign income subject to UK taxation. I suggest the OP get tax advice to confirm the tax implications before making any assumptions.
I'd suggest Douglaston, Little Neck, Manhassset or Port Washington. All great commutes for a Seventh Avenue worker & all very nice towns to live in.
Douglaston and Little Neck are in Queens, which include a local income tax. For the OP's stated budget, only Port Washington would have a few suitable places to live. While very nice communities, they are for the most part a little too pricey.
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