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Reply to "Anyone move from DMV to no state income tax state?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]The "savings" of no income tax in a lot of these states is made up on other ways - property tax usually.[/b] Or the tradeoff is something like really crummy school systems so then you have to pay for private school tuition. Have fun with that. Have you done the math though Op? The huge cost of prepping your house for sale, moving, finding a house, prepping that for move-in, the current interest rates to buy a house, uprooting your family, etc....and what point do you break even or reach any type of substantial "gain"?[/quote] Nope. Do some research on the tax burden by state, which includes property taxes. Some states have way less pension liabilities and do a better job managing tax income. Texas is a high property tax state but it’s still way lower on the list than any of the high tax states. [/quote] Based on the article, Virginia seems to be a lower tax state than most others (including Penn and texas). It really boils down to your individual money situation and other factors like weather, healthcare, crime and community. Would not want to move someplace where it's the great outdoors, only to be eaten by a bear on my first hike nor move to a "happening" city only to be shot on the way back home after the first night out. Research, people.[/quote] +1 When I retire, I want to live some place that has good, affordable medical care. TX and FL are at the bottom. Both PA and MD beats VA. https://wallethub.com/edu/states-with-best-health-care/23457[/quote] I've no plans to retire to TX or FL, but, looking at the methodolgy, most of their measures don't matter at all to the typical DCUM retiree.[/quote] IDK, there are plenty of folks on here who won't have $5mll+ in their retirement. We will have about $2.5 mil when we retire, and you bet that healthcare is something that we pay attention to when looking at where to retire. [/quote]
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