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Old 04-25-2013, 12:20 PM
RKG RKG started this thread
 
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moving to suburb of boston for work, trying to figure out my budget. What % of salary are the taxes in the state of MA (living near boston) ballpark, anyone know?

thanks
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Old 04-25-2013, 01:13 PM
 
Location: 42°22'55.2"N 71°24'46.8"W
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That's a very general question, but here are some specifics that you can use to compare to your state:

State income tax is 5.3% with a small exemption and very few available deductions, Sales tax is 6.25%, and many towns have an additional restaurant tax of between 1-2% that's tacked onto your bill. Keep in mind there is no sales tax on groceries or clothing. Also, property taxes vary by town, but are generally lower than most states in the nation. It can range from between 0.8-1.9% of your house's assessed value, which is around $400k on average. I'd say the typical property tax bill is anywhere from $4000-10000/yr.
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Old 04-25-2013, 04:20 PM
 
Location: Ohio
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I'd add the excise tax for each car, which is tiered according to the age and value. To give you an idea, it could be 45 bucks annually for an old Honda or 500 for a new luxury car.
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Old 04-25-2013, 08:54 PM
 
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Quote:
Originally Posted by Parsec View Post
Also, property taxes vary by town, but are generally lower than most states in the nation.

??????

Well, I guess maybe NH's are higher.
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Old 04-26-2013, 07:06 AM
 
Location: 42°22'55.2"N 71°24'46.8"W
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Quote:
Originally Posted by mmyk72 View Post
I'd add the excise tax for each car, which is tiered according to the age and value. To give you an idea, it could be 45 bucks annually for an old Honda or 500 for a new luxury car.
Forgot about that one - it's $55/year for my old pickup truck and $750/year for my Audi which could be a significant amount in the budget.
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Old 04-26-2013, 07:12 AM
 
Location: 42°22'55.2"N 71°24'46.8"W
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Quote:
Originally Posted by massnative71 View Post
??????

Well, I guess maybe NH's are higher.
I remember reading that somewhere, but it may have been talking about the tax rate, not the total tax bill now that you mention it. Since the median value of a home in MA is probably ranked in the top 3 in the nation, I can see how the total tax bill would rank us somewhere in the top 10 despite the lower tax rate.
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Old 04-29-2013, 11:21 AM
 
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where are you moving from? are you trying to work out a COL adjustment?
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Old 04-29-2013, 02:56 PM
 
Location: AZ
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Quote:
Originally Posted by mmyk72 View Post
I'd add the excise tax for each car, which is tiered according to the age and value. To give you an idea, it could be 45 bucks annually for an old Honda or 500 for a new luxury car.

Not sure what your definition of a luxury car is but I just paid mine for a 2013 F-150,it was $722.50

You'd better plan a few hundred more if you have a true luxury car though.
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Old 05-04-2013, 07:22 PM
 
Location: Ma
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Quote:
Originally Posted by massnative71 View Post
??????

Well, I guess maybe NH's are higher.
Quote:
Originally Posted by Parsec View Post
That's a very general question, but here are some specifics that you can use to compare to your state:

Also, property taxes vary by town, but are generally lower than most states in the nation. It can range from between 0.8-1.9% of your house's assessed value, which is around $400k on average. I'd say the typical property tax bill is anywhere from $4000-10000/yr.

Ill disagree, property tax here in Ma is rediculous-expensive. Ma is called Taxachussets for a reason. We pay or get screwed in Ma for any tax possible. And we will be paying for the big screw up on the Big Dig for along time. Lets not forget about the Tolls and how this state wants to always raise them for a highway that has been paid off for Along time. And if you want to head into Boston, not only will u pay for big tolls but cough up another $20+ just to park somewhere or $40+ at any sporting event.

For this an other reason is why I'm moving out of Ma to Arizona. ALOT less property tax, Less traffic with bigger lane highways and no tolls. But most of all better living and No Winters

Last edited by Sunni2012; 05-04-2013 at 07:25 PM.. Reason: Spelling
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Old 05-04-2013, 07:34 PM
 
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Massachusetts does have higher than average taxes than the rest of the country, but compared to the rest of New England, IMO its the second best behind New Hampshire.
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