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Old 03-14-2019, 03:52 PM   #121
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Traffic and crowding is bad from January to April, and July and August we tend to go north for vacations.
+1

We spent much of this winter in Florida as well as the winters of 2016 and 2015. We couldn't believe how crowded it seemed in many areas! And we live in the shadows of the Chicago skyline, so we understand what "congested" means.

Just the same, we did spend some of our time in nice places and really enjoyed the weather compared to what was happening here at home.
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Old 03-14-2019, 03:55 PM   #122
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Agree that the physical state of roads in FL is great, primarily due to the lack of freezing.

<SNIP>
If that were the biggest factor, Oahu roads would be fantastic. As it turns out, our roads are much worse than those in the semi-rust-belt midwest state I used to live in. Back in the day, we had freeze thaw cycles weekly (or more frequent) during winter - and the heat finished things off in the summer. Still, they kept the roads in better shape than Oahu's roads.

One factor here (in Paradise) is the crumbling infrastructure UNDER the roads. There is a major thoroughfare in Honolulu that is constantly torn up as they chase newly broken water pipes. I don't ever recall traversing it without bumping over steel plates or going around cone-zones. I think roads are more a matter of priority rather than "natural phenomenon." YMMV
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Old 03-14-2019, 03:58 PM   #123
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Maryland is getting vicious toward the high-income residents fleeing to Florida and North Carolina. MD is now withholding 7.5% of the proceeds of a house sale when you move out of state. This is supposed to ensure people pay any capital gains tax owed on the house, but it is charged to everyone, even if you had to sell at a loss.

Next year when you file your taxes with MD as a part-year resident, hoping to be refunded for the tax on the capital gains you did not receive, MD Comptroller's office may audit your return. They certainly are in no hurry to refund your money. And 7.5% of the purchase price is probably a lot more than most people would ever owe in CG tax. Think of it - 7.5% of a $500,000 sale is $37,500!
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Old 03-14-2019, 04:10 PM   #124
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Maryland is getting vicious toward the high-income residents fleeing to Florida and North Carolina. MD is now withholding 7.5% of the proceeds of a house sale when you move out of state. This is supposed to ensure people pay any capital gains tax owed on the house, but it is charged to everyone, even if you had to sell at a loss.

Next year when you file your taxes with MD as a part-year resident, hoping to be refunded for the tax on the capital gains you did not receive, MD Comptroller's office may audit your return. They certainly are in no hurry to refund your money. And 7.5% of the purchase price is probably a lot more than most people would ever owe in CG tax. Think of it - 7.5% of a $500,000 sale is $37,500!
I foget, can there be a class action suit against a state? Just wondering.
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Old 03-14-2019, 04:22 PM   #125
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https://articles.ezlandlordforms.com...gh-tax-states/
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Old 03-14-2019, 04:47 PM   #126
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Maryland is getting vicious toward the high-income residents fleeing to Florida and North Carolina. MD is now withholding 7.5% of the proceeds of a house sale when you move out of state. This is supposed to ensure people pay any capital gains tax owed on the house, but it is charged to everyone, even if you had to sell at a loss.

Next year when you file your taxes with MD as a part-year resident, hoping to be refunded for the tax on the capital gains you did not receive, MD Comptroller's office may audit your return. They certainly are in no hurry to refund your money. And 7.5% of the purchase price is probably a lot more than most people would ever owe in CG tax. Think of it - 7.5% of a $500,000 sale is $37,500!
California has something similar (3 1/3%), but that's usually reserved for sellers of real estate who are either non-residents or non-citizens. That's at least more reasonable, particularly for those who are leaving the country. We're paying quite a bit of capital gains tax on our CA house sale from last year, but 7.5% would be a lot more than we actually owed.
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Old 03-14-2019, 04:53 PM   #127
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Apparently, though, if you move to Florida and change your state of residence (e.g. registering your car, getting a FL driver license) MD considers you an out-of-state buyer.

Of course anyone who moves to Florida wants to establish FL residency asap, for income tax reasons, and so you can get the benefits of homesteading (property tax caps, favorable insurance rates etc).

This tax racket must be fairly new, as I have only recently heard people complain about it.

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California has something similar (3 1/3%), but that's usually reserved for sellers of real estate who are either non-residents or non-citizens. .
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Old 03-14-2019, 05:43 PM   #128
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"down 50%" means nothing without context. Down since when?

Seems unlikely. Perhaps you have a link to the source of that claim?
As I noted above, it was a CNN segment last week about wealth fleeing high tax states.

Mass, at 50% of revenue loss was among 5 other states. The segment also included the Cuomo comment so it at least implied that the numbers were recent.

As I recall it had tied in the most recent tax changes (and maybe the new SALT limitations) as being a notable culprit.

I was watching CNN in Europe so I'm not sure if it was also broadcast in the US.
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Old 03-14-2019, 06:42 PM   #129
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If that were the biggest factor, Oahu roads would be fantastic. As it turns out, our roads are much worse than those in the semi-rust-belt midwest state I used to live in. Back in the day, we had freeze thaw cycles weekly (or more frequent) during winter - and the heat finished things off in the summer. Still, they kept the roads in better shape than Oahu's roads.

One factor here (in Paradise) is the crumbling infrastructure UNDER the roads. There is a major thoroughfare in Honolulu that is constantly torn up as they chase newly broken water pipes. I don't ever recall traversing it without bumping over steel plates or going around cone-zones. I think roads are more a matter of priority rather than "natural phenomenon." YMMV
Sure, urban areas and the tear ups are a problem.

Florida has nearly a perfect road substrate that is very stable and thick built right in. Volcanic soil is probably different.
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Old 03-14-2019, 07:19 PM   #130
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Maryland is getting vicious toward the high-income residents fleeing to Florida and North Carolina. MD is now withholding 7.5% of the proceeds of a house sale when you move out of state. This is supposed to ensure people pay any capital gains tax owed on the house, but it is charged to everyone, even if you had to sell at a loss.



Next year when you file your taxes with MD as a part-year resident, hoping to be refunded for the tax on the capital gains you did not receive, MD Comptroller's office may audit your return. They certainly are in no hurry to refund your money. And 7.5% of the purchase price is probably a lot more than most people would ever owe in CG tax. Think of it - 7.5% of a $500,000 sale is $37,500!


Seems like this is an opportunity for someone to set up apartments for short-term leases. Sell your MD house and move in to an MD apartment. Get everything owed to you at settlement. Then, a month later, move out of state.
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Old 03-14-2019, 07:37 PM   #131
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Unless something has changed since I went through this a few years ago (and a review of the Maryland tax site doesn't indicate it has) there are several big caveats to this. There is an exemption if it's your primary residence, and even if not, you can file an application for exemption. The latter allows you to calculate your capital gain on the property, and pay the tax on that amount instead of the sale price less selling cost, which is the default.
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Old 03-14-2019, 08:56 PM   #132
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Interesting.... for us.... currently contemplating a change in domicile in 2020, the savings are tantalizing but not compelling.... property tax differences are a minor benefit... auto insurance will be more expensive... state income tax savings are nice but not crazy.... net benefit is about 2.5% of our annual withdrawals. Not sure what we will do.
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Old 03-14-2019, 08:59 PM   #133
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Unless something has changed since I went through this a few years ago (and a review of the Maryland tax site doesn't indicate it has) there are several big caveats to this. There is an exemption if it's your primary residence, and even if not, you can file an application for exemption. The latter allows you to calculate your capital gain on the property, and pay the tax on that amount instead of the sale price less selling cost, which is the default.
Yep, dealt with that in 2016 when we sold our town house. Exemption form eliminated that 7.5% tax.
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Old 03-15-2019, 06:14 AM   #134
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As I noted above, it was a CNN segment last week about wealth fleeing high tax states.

Mass, at 50% of revenue loss was among 5 other states. The segment also included the Cuomo comment so it at least implied that the numbers were recent.

As I recall it had tied in the most recent tax changes (and maybe the new SALT limitations) as being a notable culprit.
I live in Mass at the moment. As far as I can tell, there's been no 50% loss of revenue. I'm guessing it would have made the news had it been real.

Perhaps what you saw was some sort of projection...
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Old 03-15-2019, 06:51 AM   #135
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Minnesota does this too.


A couple things they look for are where you bank and where your primary services are (doctor, dentist, accountant ...).
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