Reply to Almost 700k over asking in NW DC

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]But then you would be living in Lyon Village.

It is more expensive from a tax standpoint to live in Virginia than DC, so other than have a slightly better chance for your kid to attend UVA/VT, there really isn't any benefit.[/quote]

what do you mean by this? if one makes say $400K, the tax rate in VA is 5% and in DC is 8-9%. the 3% difference is $12K in Virginia's favor. people bring up the car thing, but unless you have a bunch of very fancy cars, I don't see how DC people would pay less taxes. I live in MD and have always wanted to escape to VA for tax purposes, but it would be bad for commute which is more important to me than the $12-15K/year in state/county taxes saved.

https://smartasset.com/taxes/paycheck-calculator#yCNLPYiTfL

when i use the above and put in $400K, married, I see $33K of state and local taxes for bethesda, $22K for Virginia, and $32K for DC. Virginia has a $10K advantage. For someone living in a $2mm+ home who likely makes more than $400K, the difference is even greater.

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DC has lower real estate taxes that offset the higher state/local income tax.[/quote]

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