Reply to Taxes--Md v. VA

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]MD Income tax is about 8 1/2%
VA Income tax is about 4 3/4%

VA car tax is about $300/yr per vehicle.[/quote]

I have no idea where you are coming up with these numbers. Maryland doesn't have a fixed percentage rate, but a $250,000 income in [b]MD would currently be taxed at around 5.1%.[/b]

The state taxes are somewhat irrelevant, anyhow, because [b]you need to factor in county taxes[/b], tax deductions, and other aspects of the tax burden.

The latest decent study I've seen on this says that for a maried couple with two children that own a home, taxes are highest in Prince George's county followed by Montgomery County. DC, amazingly, has the lowest taxes, though the difference between DC and Fairfax and Arlington are relatively trivial. All three are a good bit lower than Prince George's, and moderately lower than MoCo.

To be clear though, for all of these, we're talking about a few thousand dollars a year, so I wouldn't personally choose where to live based on tax burden.[/quote]

I included MD state and county for the 8.5%.  It all goes on the same MD income tax return.  You are playing on words.[/quote]

Did you include local taxes for Virginia? If so, which jurisdictions?

There are two options here:

Either you included this information only for MD, which is unfair. Or you included it for VA, but used either a statewide average or a particular jurisdiction, neither of which is helpful in answering the question.

And anyhow, income tax is only one portion of the tax burden. You need to factor in other taxes, and the savings from home ownership.

So no, I don't think these are semantic distinctions.[/quote]

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