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Metropolitan DC Local Politics
Reply to "Tax Savings When Moving from Maryland to Virginia?"
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[quote=Anonymous][quote=Anonymous]I moved from DC to VA. [b]Much higher property taxes in VA relative to DC[/b], plus car is taxed as property (our cars are old, but this would hit you on newer, fancier cars). Lower income tax so we took home maybe an extra $50/paycheck each, at around $250k combined HHI. I don't know how we netted out in the end, frankly. I don't think it's that different between MD and VA.[/quote] This really bites you if you have owned in DC for a long time. DC property taxes are very low and my assessed value is a good 50% less than market value. At my same income, my tax burden would be much higher in VA if buying a home similar in price to the one I sell in DC just because the new property tax rate is higher and adjusts to the new market price.[/quote]
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