How Are You Folks Managing With The 9% State Income Tax? (for sale, neighborhoods)

[Yankeemama]

Originally Posted by Silverfall

Oregon has a lot of Mormons. Not as much as Utah obviously, but we have many of them here.

Yes, we do in the Portland west side burbs.

[NoMoreSnowForMe]

Any place with amenities, as in roads, police, etc., will have taxes that pay for them. Different cities/counties/states do it in different ways. But, don't think for a minute that you'll get amenities without paying for them.

People like to talk about the income and sales taxes in CA (by the way, food is not taxed at all). But, what they fail to mention is that real property taxes can only go up something like 2% per year, and will always stay based on your sales price - no matter how long you own the property - and this can get passed along to your kids if they inherit. The property never gets reassessed. This is huge.

So, I suggest when looking at places to relocate to, that have decent amenities - is you just keep asking about ALL of the possible taxes - because those taxes are there. Don't be fooled by the fact that there isn't a sales tax or a tax on social security, etc. There's a tax in there somewhere.

[dcisive]

Well as I believe I mentioned, the particular place we were looking at was actually going to have the manufactured homes ordered new and in place to sell. Unlike having to purchase it, pay for it's transportation AND setup that would already be done. Pay a ton (like around $80K) just to fix up the land one is going to place it on, and then of course the land itself which would be well above $50K itself, I'd just be paying for the home (financing it as a purchase) and paying a monthly fee for leasing the spot it's on. There is water, sewer and garbage pickup all included in that one fee paid. I figured the ONLY tax one would pay is on the assessed value of the manufactured home I'd be buying outright. Am I wrong?

Yeah sure there is going to be a State Income Tax I get that. But as usual there are deductions. I read a bit so far regarding that and the deductions can reduce that somewhat as well. I'm just trying to lower our cost of living, not that that is something revolutionary. Just a factor of our potential retirement. I'm sure you can understand that. I do of course have a vehicle, a 2017 Rogue. No doubt I'd need to pay a new registration. Utah has a tax each year that is outrageous as well (like this will be about $320 this year as it will for most years as it slowly goes down). Taxes here for the property go up each year without fail. The insurance has remained about the same. Just so much to consider indeed.

[NoMoreSnowForMe]

Originally Posted by dcisive

Well as I believe I mentioned, the particular place we were looking at was actually going to have the manufactured homes ordered new and in place to sell. Unlike having to purchase it, pay for it's transportation AND setup that would already be done. Pay a ton (like around $80K) just to fix up the land one is going to place it on, and then of course the land itself which would be well above $50K itself, I'd just be paying for the home (financing it as a purchase) and paying a monthly fee for leasing the spot it's on. There is water, sewer and garbage pickup all included in that one fee paid. I figured the ONLY tax one would pay is on the assessed value of the manufactured home I'd be buying outright. Am I wrong?

Yeah sure there is going to be a State Income Tax I get that. But as usual there are deductions. I read a bit so far regarding that and the deductions can reduce that somewhat as well. I'm just trying to lower our cost of living, not that that is something revolutionary. Just a factor of our potential retirement. I'm sure you can understand that. I do of course have a vehicle, a 2017 Rogue. No doubt I'd need to pay a new registration. Utah has a tax each year that is outrageous as well (like this will be about $320 this year as it will for most years as it slowly goes down). Taxes here for the property go up each year without fail. The insurance has remained about the same. Just so much to consider indeed.

Wait a minute. You're talking about buying a manufactured home on leased land? That's an unknown cost forever. Is there also a HOA?

Just research every little thing and all costs and any potential changes in costs in the future, and all possible taxes on anything.

I would never buy anything on leased land, or anything ever again with a HOA. I don't like unknown future costs or rules. It's like having a co-owner on your land, who has the real control over it. Yuck.

I only bring these things up because they are things that I myself learned the hard way by buying in different states and cities, with an without HOA, raw land I developed, etc., etc. It's easy to get a dream in one's head, and not really look at all of the data with an unbiased eye.

[Hawk J]

Originally Posted by dcisive

Well as I believe I mentioned, the particular place we were looking at was actually going to have the manufactured homes ordered new and in place to sell. Unlike having to purchase it, pay for it's transportation AND setup that would already be done. Pay a ton (like around $80K) just to fix up the land one is going to place it on, and then of course the land itself which would be well above $50K itself, I'd just be paying for the home (financing it as a purchase) and paying a monthly fee for leasing the spot it's on. There is water, sewer and garbage pickup all included in that one fee paid. I figured the ONLY tax one would pay is on the assessed value of the manufactured home I'd be buying outright. Am I wrong?

Yeah sure there is going to be a State Income Tax I get that. But as usual there are deductions. I read a bit so far regarding that and the deductions can reduce that somewhat as well. I'm just trying to lower our cost of living, not that that is something revolutionary. Just a factor of our potential retirement. I'm sure you can understand that. I do of course have a vehicle, a 2017 Rogue. No doubt I'd need to pay a new registration. Utah has a tax each year that is outrageous as well (like this will be about $320 this year as it will for most years as it slowly goes down). Taxes here for the property go up each year without fail. The insurance has remained about the same. Just so much to consider indeed.

In Oregon, passenger vehicle registration is $86 for 2 years.


Oregon Department of Transportation : Vehicle Title, Registration & Permit Fees : Oregon Driver & Motor Vehicle Services : State of Oregon

[f5fstop]

Also, UT taxes social security benefits, but Oregon does not. If you are living on SS benefits, you will not pay state income taxes in OR.

[jjpop]

Isn't there an income threshold after which SS is taxed in Oregon?

[oregonwoodsmoke]

Originally Posted by Hawk J

In Oregon, passenger vehicle registration is $86 for 2 years......

That has just been changed this year to a mileage efficiency based registration fee. Also, my son, who is a truck driver is going to have a road use tax taken out of his paycheck. I don't know if that is going to apply to everyone or just to people with a commercial license.

[Minervah]

Originally Posted by jjpop

Isn't there an income threshold after which SS is taxed in Oregon?

No but there can be taxes on other retirement benefits. I remember looking this up when I retired.

Here's a link. You may have to cut and paste 'cause links don't always work when I post them from my IPhone on CD.


https://ttlc.intuit.com/questions/31...and-retirement

[Larry Caldwell]

Originally Posted by jjpop

Isn't there an income threshold after which SS is taxed in Oregon?

You are thinking federal income tax. There is a fairly low threshold before they start taxing SS, and quickly move to taxing 85% of your SS benefits. Oregon does not tax SS, but taxes traditional IRAs and 401ks as income. Roth accounts are tax free just like federal.