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Yup. Perfect example: Virginia charges a 3% "property tax on your vehicle every year. A $25,000 car will cost you $750 to register. Ouch! How to Calculate Virginia Car Tax - CarsDirect
Not exactly. Your link is for the sales tax when you buy a vehicle (in contrast, MD and PA sales tax on a vehicle is 6%, so the example in the link would be $1500. In MD that's exclusive of tag and title charges of another $200, give or take. I don't know what it would be in PA. Also, MD applies sales tax on any manufacturer rebates, so, even though I only paid $25K for my new truck I paid sales tax on $33K, the sticker price.)
VA got rid of the "car tax" a number of years ago as a state requirement. Some Counties have it, some don't.
LOL-equating sales taxes with income taxes is not relevent. Mortgages, rent, insurance for the car and home, car payments, gas, utilities, all are FREE from sales tax. On average, few people spend even 1/3rd of their monthly budget on stuff subject to sales taxes. The gap high-low, excluding the 4 or so most extreme states are about 3.75% nationally (most states 6-9.75%). A 3.75% gap on 33% of income = a 1.25% gap.
Income taxes usually are hitting the vast majority of income, if we assume 75% on average, a 4% state income tax consumes 3% of overall income.
If people are too lazy, stupid, and unmotivated to plan and adjust their lives that they need to pack up and move to another state based primarily on tax rates I say 'good riddance'. Good luck to the folks of the states that get these dinosaurs. Not exactly innovators and/or critical thinkers you're getting for neighbors.
I purposely moved from a high tax county where retiree's were losing their houses due to high taxes to a lower tax county. Now the high (greedy) tax county gets $0.00, zero, nada, ZILTCH of my dollars and the lower tax county gets my money.
Lower taxes sure make a difference in monthly payments and will make a big difference in retirement after the mortgage is paid off. So lets say I save $X dollars a year in property tax, invest it, that can make a difference too. We are staying here only to take care of parents but the time comes we will be moving and taking the jobs we provide to a low tax state.
If people are too lazy, stupid, and unmotivated to plan and adjust their lives that they need to pack up and move to another state based primarily on tax rates I say 'good riddance'. Good luck to the folks of the states that get these dinosaurs. Not exactly innovators and/or critical thinkers you're getting for neighbors.
I actually think they are smart and resourceful.
I moved to another county within Texas.
I went from paying $7K in property taxes to paying $2K in property taxes.
I'm saving $5K because I'm "lazy, stupid and unmotivated" ? ROFL
Originally Posted by No_Recess View Post
If people are too lazy, stupid, and unmotivated to plan and adjust their lives that they need to pack up and move to another state based primarily on tax rates I say 'good riddance'. Good luck to the folks of the states that get these dinosaurs. Not exactly innovators and/or critical thinkers you're getting for neighbors.
Quote:
Originally Posted by HappyTexan
I actually think they are smart and resourceful.
I moved to another county within Texas.
I went from paying $7K in property taxes to paying $2K in property taxes.
I'm saving $5K because I'm "lazy, stupid and unmotivated" ? ROFL
I'm ROFL too. I went from paying $8k to paying $4k in property taxes and from 7% sales tax to 6% sales tax. I'm saving $4k a year in property tax and saving in purchases because I'm lazy, stupid and unmotivated??? Really? I call it smart. When the time comes I'll be moving out of state. I'm considering buying a property where I want to move and renting it before the prices go up.
Not exactly. Your link is for the sales tax when you buy a vehicle (in contrast, MD and PA sales tax on a vehicle is 6%, so the example in the link would be $1500. In MD that's exclusive of tag and title charges of another $200, give or take. I don't know what it would be in PA. Also, MD applies sales tax on any manufacturer rebates, so, even though I only paid $25K for my new truck I paid sales tax on $33K, the sticker price.)
VA got rid of the "car tax" a number of years ago as a state requirement. Some Counties have it, some don't.
PA is a bit lower than MD, I haven't bought a car in 6 years so I'm not sure of the exact amount. I paid $36 to renew my registration this year.
Edit: Looked it up and it costs $50 to issue a new title, and a new tag costs upwards of $20 to $75 depending on what you choose.
I know people who live in MA and NY and come down to no-income-tax FL to visit every year. When I ask them why they don't move down permanently, they say it is because there are not jobs where they can make over 200k per year as they can in their own states. Makes sense. If you are making hundreds of thousands of $$, you aren't going to move to save on property taxes. Also some people want to live where they are happy and taxes are not part of the equation.
Correlation versus causation. I haven't read the book, of course, and won't. But there is more to migration than tax considerations. Other factors that might be considered are weather, job opportunities, cost of living, perceived quality of life, and relatives. CA does not have inordinately high personal taxes. Corporations may leave for that reason, but people leave mostly for cost of living considerations.
I agree that taxes are just part of the picture. But in the "correlation versus causation" theme I think high cost of living states generally have high taxation. Washington might be a bit of an exception.
Correction noted as well as the relatively high sales tax rate in Texas. The high sales tax in Texas is the surprise tax for all of those who think they are fleeing to a low tax state.
Anyone who thinks ALL taxes are lower in Texas is a fool. But in total, Texas is a low tax state.
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