Anonymous wrote:Virginia is about to add a whole heap of new taxes on just about everything, including things like all home deliveries including food deliveries, uber, dog walking/grooming/pet care, all digital content including streaming, apps, subscriptions and video games, all home repairs and home improvements, all grooming and self care including haircuts/manicures/wellness, all entertainment including kids activities and gyms, etc, etc

Virginia is also raising the state income tax to the highest in the nation, higher than California, as well as adding taxes to all investment income.

There are a few more taxes that Virginia is adding. The list is too long to write. The new taxes are on everythi g that anyone spends money on.

I never thought I would ever say this, but if you are choosing, strongly consider Maryland.

In a couple of weeks, Virginia is set to become the highest taxed state in the United States, higher than California. Only a fool would move to Virginia voluntarily right now.

Anonymous wrote:Where would you recommend young professionals looking to raise a family live in the DMV? Looking for single family community with good/great schools. Hoping to spend less than $1.2M. Raised in Montgomery County but concerned with changes/ direction in the county. Not as familiar with Virginia communities. Commute to DC several days a week. Appreciate your thoughts and any insights.

Anonymous wrote:I grew up in Montgomery County and live in Arlington now. I miss MD and wish I could move back.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have lived in both...shrug. Choose based on your commute and neighborhood preference. I live in MD and have to say when I have to drive to VA, the tolling system makes me tense ..which lane? Do I have to pay? How much?

I live in Virginia and feel that way about the speed cameras in Maryland. Lol. (And I'm not even a speeder!)

Same. One month I got 2 tickets for my back wheels not rolling to a complete stop. You have to stop at the stop signs and eat a sandwich to not get a ticket and they are extremely expensive.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those freaking out about Va taxes, are simply catastrophizing. Unless you make more than 600,000 per year when the first new marginal tax rate begins or more than 1 million per year where the second new marginal rate kicks in, you will be largely unaffected by this.

Well, we've always been told that VA is much better if you have a very high income, so now that advantage will be gone. If you're not a very high earner, the difference between MD and VA has never been very significant, because VA has the car tax, the grocery tax, and crazy restaurant taxes, plus VA has toll roads everywhere especially for people like OP who have budgets that make them like further out.

If you're a very high earner and you're worried about the couple hundred dollars at most these new taxes will cost you, then you have serious psychological issues and should seek professional help. It's not normal or healthy to be obsessing over such an insignificant amount of money.

Hysterical Republicans are irrational and innumerate.

Anonymous wrote:What areas/neighborhoods in Virginia are comparable to Bethesda, Potomac, North Bethesda, etc. in terms of great schools and somewhat close (commute) to DC?
(The above poster mentioned Arlington and Silver Spring, but I don’t think they are necessarily comparable??)

County police said in a Monday night statement that officers were dispatched around 6 p.m. to a large fight with “more than 20 juveniles” near Wayne Avenue and Ramsey Avenue. Around the same time, MCFRS crews were dispatched to the Silver Spring Metro at 8400 Colesville Road for a report of injured people after “an assault/stabbing,” MCFRS spokesperson Pete Piringer posted on social media.

Additional MCFRS resources were added shortly after for a second patient, according to MCFRS radio transmissions that noted “one was hit in the head, and one was stabbed in the neck.” Minutes later, dispatch informed responders that there were four patients.

Anonymous wrote:

Anonymous wrote:I have lived in both...shrug. Choose based on your commute and neighborhood preference. I live in MD and have to say when I have to drive to VA, the tolling system makes me tense ..which lane? Do I have to pay? How much?

I live in Virginia and feel that way about the speed cameras in Maryland. Lol. (And I'm not even a speeder!)

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’ve done a lot of digging into the new income and investment tax proposals. They are likely to pass because they are being sponsored by leadership and/or heads of committees.

OP, if you don’t make $500K+, the new investment and income tax proposals won’t impact you. It’s 8% on $600K+ and 10% on 1M+, and 3.2% on investment income IF your HHI is over $500K.

So the top bracket is 13.2% and would apply to say someone making $1.5M with $300K of that being investment income (rental property, etc). This would be the highest rate in the country if passed.

If you’re below $1M, VA still has less taxes than MD or DC. At the $1M mark, it gets closer and if taxes were your only deciding factor, it’s basically the same across VA, MD, and DC.

Also remember MD has the county tax which adds up once you hit $500K+ too, and DC has a brutal tax on $1M+ income as well.

VA also has much higher job growth and a healthier economy than MD due to the # of corporations here but DCUM gets rabid over that fact (apparently people aren’t aware Google and BLS data exists?). OP you can easily Google the data and see for yourself.

The issue I have is that this is a very blind sighted tax approach. Every state that raised taxes like this saw an out migration of high net worth people, which meant the taxes never generated the projected revenues. There's been a steady flow of the very wealthy out of MA and NY and NJ and MD to places like Florida. The very high net worth people in VA will just switch their residency to a Florida property as long as they spend six months minus day out of Virginia. Corp c-level and business owners will just move their families to Florida and fly in a few days a week. Which means eventually the state will need to go to the next group of people and in the long run those who really get slammed are the dual professionals UMCs who aren't as mobile. High taxes never stop with the rich, unfortunately.

The problem is reality...Massachusetts implemented a wealth tax, and it has raised tons of new income:

The Massachusetts "Fair Share Amendment" (millionaire's tax), a 4% surtax on annual income over $1 million approved in 2022, is considered highly successful. It generated over $5.7 billion in its first two years, doubling initial projections, with funds used for public education, transportation, and infrastructure. Despite concerns of a "millionaire exodus," evidence suggests the number of wealthy residents has continued to grow.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those freaking out about Va taxes, are simply catastrophizing. Unless you make more than 600,000 per year when the first new marginal tax rate begins or more than 1 million per year where the second new marginal rate kicks in, you will be largely unaffected by this.

Well, we've always been told that VA is much better if you have a very high income, so now that advantage will be gone. If you're not a very high earner, the difference between MD and VA has never been very significant, because VA has the car tax, the grocery tax, and crazy restaurant taxes, plus VA has toll roads everywhere especially for people like OP who have budgets that make them like further out.

If you're a very high earner and you're worried about the couple hundred dollars at most these new taxes will cost you, then you have serious psychological issues and should seek professional help. It's not normal or healthy to be obsessing over such an insignificant amount of money.

Anonymous wrote:Virginia is changing for the worse. The new governor has proposed tons of new taxes. The reason for the new taxes is that there's no job growth -- Amazon is shedding employees like crazy, as are other major employers like Nestle. And Virginia lost more jobs because of the federal downsizing than Maryland. Virginia has bet heavily on data centers in an attempt to tun things around, but those employ very few people and are incredibly ugly.