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Threads like this make me so glad I moved out of NJ! Like njkate, I'm in NC. When I retired in 2004, I looked at all my options and decided I could have a much better life for a lot less money in NC. New Jersey makes feeble attempts to keep its retirees. When I turned 65 in 2017, I filled out a form and sent it to the town I live in and got a 50% tax cut on my 2900 sq ft house on a quarter acre. My tax bill is now $1150 a year.
If NJ is interested in keeping its seniors, it better start thinking of doing a similar program. My old house in Paterson, one of those ubiquitous 1000 sq ft Cape Cods with 3bd and 1 ba, on 1/10 acre, has a nearly $8000 tax bill. What would be my rationale to stay in "lovely" Paterson at that cost? Nothing I can think of at this point! What would I be getting for all of that extra money? Better Pizza? Well, yes! But for the tax savings over the years, I'll be taking my new Toyota RAV back to NJ to indulge in that good pizza! That's what 4 years of tax savings will get you!
BTW, many seniors in NC do come back to NJ as stiffs! I'll read an obit in the local paper and see a similar obit for the same person in the Bergen Record. See ...you can go home again!
If you think I don't like NJ, you're wrong! I think it's a great place to live! It's just too expensive for me and I've adapted very well to not shovelling snow. My sister tells me if she wins the PowerBall or MegaMillions lottery, she will buy me a house in say, Ridgewood,Tenafly or Alpine ...my choice. Until she wins, I'm staying put!
It's 74 here, with the windows open and the cat against the screen, checking out the squirrels! Not bad for February 5th! Hope you're enjoying your proportional high temp!
Threads like this make me so glad I moved out of NJ! Like njkate, I'm in NC. When I retired in 2004, I looked at all my options and decided I could have a much better life for a lot less money in NC. New Jersey makes feeble attempts to keep its retirees. When I turned 65 in 2017, I filled out a form and sent it to the town I live in and got a 50% tax cut on my 2900 sq ft house on a quarter acre. My tax bill is now $1150 a year.
If NJ is interested in keeping its seniors, it better start thinking of doing a similar program. My old house in Paterson, one of those ubiquitous 1000 sq ft Cape Cods with 3bd and 1 ba, on 1/10 acre, has a nearly $8000 tax bill. What would be my rationale to stay in "lovely" Paterson at that cost? Nothing I can think of at this point! What would I be getting for all of that extra money? Better Pizza? Well, yes! But for the tax savings over the years, I'll be taking my new Toyota RAV back to NJ to indulge in that good pizza! That's what 4 years of tax savings will get you!
BTW, many seniors in NC do come back to NJ as stiffs! I'll read an obit in the local paper and see a similar obit for the same person in the Bergen Record. See ...you can go home again!
If you think I don't like NJ, you're wrong! I think it's a great place to live! It's just too expensive for me and I've adapted very well to not shovelling snow. My sister tells me if she wins the PowerBall or MegaMillions lottery, she will buy me a house in say, Ridgewood,Tenafly or Alpine ...my choice. Until she wins, I'm staying put!
It's 74 here, with the windows open and the cat against the screen, checking out the squirrels! Not bad for February 5th! Hope you're enjoying your proportional high temp!
I've heard that moving to NC sets off a proclivity to overuse exclamation points.
That is true for high-income retirees moving South. You may save a bundle on the property tax decrease, while getting schlonged by many states' income tax rates. The top rate for income tax in NC starts at about $60,000. In my case, with a retirement income of ~$30K, I'm much better off in NC.
That is true for high-income retirees moving South. You may save a bundle on the property tax decrease, while getting schlonged by many states' income tax rates. The top rate for income tax in NC starts at about $60,000. In my case, with a retirement income of ~$30K, I'm much better off in NC.
Yup!
For those of us who knew how to invest wisely for ourselves and for our heirs, NJ is far preferable to supposedly low-tax states like NC. If you ever want some prudent investment advice, please feel free to DM me.
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