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luvmylabs23139
09-22-2009, 11:01 AM
So we are considering getting out of NC due to that tax increases by dummacrat governor PUrdue,
We can live anywhere in the southeast as hubby travels 95% of the time.
We are trying to figure out the lowest total tax state, combining income tax, sales tax and property taxes.
Any ideas?
Currenty we live in the county outside of city limits (much less property taxes but we still pay a ton in property taxes for " social programs". Grand theft!!!!!
I don't want to move just to get screwwed in property taxes. We left VA when our property taxes jumped to pay for other kids school.

TXduckdog
09-22-2009, 12:29 PM
Texas. No state income tax. Ag exemptions are fairly easy to come by to ward off property taxes.

Mike Noel
09-22-2009, 01:33 PM
Texas is obviously a good choice but in keeping with your request for a southeastern state you should consider Tennessee and Alabama.

Gerry Clinchy
09-22-2009, 03:37 PM
I've got a friend living in TN, and property taxes are low, but they have a 10% sales tax on everything ... but I don't think that they have an income tax.

badbullgator
09-22-2009, 04:15 PM
Fl has no state tax, 6% sales tax, and pretty low prop taxes.

Eric Johnson
09-22-2009, 04:51 PM
Fl has no state tax, 6% sales tax, and pretty low prop taxes.

Yeah....but FL has things with big teeth.

ducknwork
09-22-2009, 05:43 PM
Fl has no state tax, 6% sales tax, and pretty low prop taxes.

Why do so many yankees retire here then??:confused: Someone needs to tell them about Florida!
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Juli H
09-22-2009, 05:48 PM
well, not southeast US, but alaska has no state income tax, many areas (away from metropolitan/suburban areas) have no property taxes (tok, for instance, does not), plus you get a check from the state every yr you are a resident....should be about 1300 this yr....no state sales tax...

Juli

ALPHA-OMEGA
09-22-2009, 07:15 PM
Be careful on what you choose. Know what you want and need, even take a month or so to check out area before committing. Tax may not end up being the most important thing in your life. I have paid tax's in four states.

Minnesota Oh MY God High, but a good place to grow old and die and I mean this in a good way.

California, Income tax was the lowest but other tax's high and cost of living ridiculous but I loved the people, the land and the adventure. Something new, different and exciting in every direction and day. Stay away from the cities, go out back.

North Carolina, cannot remember that much about it tax-wise. Diverse regions but can not compare to Golden State.

South Carolina Income tax between Minnesota and California but after bringing my Mother-in-law here for last four years of her life, it will not be the State that I Plan to grow old and die in unless I hit the lottery.



SEMPER FI

YardleyLabs
09-22-2009, 07:25 PM
My father retired to eastern Tennessee where he had lived for 16 years following WWII. It cost almost nothing to buy a house (and it sold for almost nothing when he died:rolleyes:). Cost of living was extremely low, people were nice, there were many cultural opportunities, and the area is beautiful if you stay near the mountains. There were also good hospitals when he needed them. The only negative is that you still have to layover in Atlanta when you die.

luvmylabs23139
09-22-2009, 07:46 PM
The other thing we will have to factor in before making any move is the increase in federal taxes due to a reduction in deductions.

Buzz
09-22-2009, 08:25 PM
Here is a table that summarizes all 50 state tax burdens.

http://www.retirementliving.com/tax_burden_2008.pdf

Looks like they do it on a taxes paid per capita basis.

I wonder how long you will have to realize tax savings in order to break even on the cost of your move...

Something to think about.

ALPHA-OMEGA
09-22-2009, 09:36 PM
Also Need to take into consideration the tax's you actual end up paying in the state. What is shown on the tax tables here and what you actually end up paying after filling out the individual tax forms on a given income can be radically different between states. I original filed in Minnesota years ago. One year I received extra pay and Bonus's that Jumped me way up in State tax's owed. I Was told to fill out the California forms as a State resident. I saved about 2/3's of money that I would have had to send to Minnesota over the next 11 years. And as added bonus saved a Fortune in college tuition. About 14 years ago had to assume South Carolina residency and my tax jumped back up but not as bad as it would have been in Minnesota. I think you might get the picture, The charts only indicate an amount to pay on a specified quantity. That specified quantity is arrived at very differently in each state for the same income.

PS: go to Best small towns to live in 2009
MONEY MAGAZINE this might help, 100 top towns

SEMPER FI

luvmylabs23139
09-22-2009, 09:47 PM
I was a payroll mgr for years doing muti state payroll and handled relocations for execs.
The state income part is easy to compare.