Anyone move from DMV to no state income tax state?

[Anonymous]

Anyone? Or do you know anyone who has? Is the saving on state income tax really with it to live in FL or TX etc? Considering texas mostly but curious.

[Anonymous]

We moved to Florida but not only to save on taxes - we also wanted to be here. I think if it's only for the taxes, it would be a tough move.

[Anonymous]

Just remember these states get their revenues in other ways. In Texas it’s property taxes.

[Anonymous]

Many people do in retirement.

Pennsylvania can be overlooked. It does not tax retirement account withdraws.

[Anonymous]

look at PA, DE, and SC

[Anonymous]

It’s a pathetic reason for moving. And ANY reason for moving to Florida is pathetic.

[Anonymous]

Anonymous wrote:Just remember these states get their revenues in other ways. In Texas it’s property taxes.

Same for NewHampshire

[Anonymous]

Whatever you do, don’t be this guy https://www.washingtonpost.com/dc-md-va/2022/11/14/bitcoin-billionaire-saylor-tax-lawsuit/

[Anonymous]

Anonymous wrote:Just remember these states get their revenues in other ways. In Texas it’s property taxes.

Not necessarily. Some states have extremely large pension liabilities and government bloat. There are websites that show the tax burden of states that are helpful.

[Anonymous]

Anonymous wrote:It’s a pathetic reason for moving. And ANY reason for moving to Florida is pathetic.

I find judgmental people like you pathetic

[Anonymous]

We plan to move to / domicile in Pennsylvania once we are able to retire and spend summers there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just remember these states get their revenues in other ways. In Texas it’s property taxes.

Not necessarily. Some states have extremely large pension liabilities and government bloat. There are websites that show the tax burden of states that are helpful.

Here’s a website with tax burden by state including real estate taxes.

https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494

[Anonymous]

I have an older family member who moved to FL. Not sure if the income tax situation is wonderful, but she is now beset by property taxes AND home insurance woes. The insurance companies want her to replace a perfectly sound roof before they will cover her, at a cost of 45k and up. So far, 45k is her lowest quote. I have definitely had some second thoughts about FL though it was in my long-term plans

[Anonymous]

Anonymous wrote:We plan to move to / domicile in Pennsylvania once we are able to retire and spend summers there.

Why PA? Their Sales and Property taxes are 6.34% and 1.58% respectively. Virginia's is 5.73% and 0.82%. Neither taxes SS. PA has an inheritance tax but VA doesn't. It's also colder.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just remember these states get their revenues in other ways. In Texas it’s property taxes.

Same for NewHampshire

NP. And my property taxes for my second home in NH are ridiculously low.