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Old 02-03-2009, 09:39 AM   #21
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This site has a lot of state tax information. I can't speak for its accuracy, but the Colorado listing looks right.

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Old 02-03-2009, 10:07 AM   #22
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I realize trying to generalize taxes is tough.

I'd like to compare the tax rates for states on incomes between 100k and 200k. I just found a definitive state tax table for Ohio (been looking for one for years). I pay a state tax of 6.6% on income between 100k and 200k (plus $4413 of tax on first 100k).

I think this is high for a state tax (6.6%), could anyone chime in as to
a) what is the marginal state tax rate your state has for 100k-200k incomes
or
b) a web site which allows comparison based on income

**I am aware of various websites which show "average" tax burden, and I am more interested in seeing specific tax rates so I can concern myself with my situation (and not worry about low incomes or really high incomes).
We might be able to help you more if you could give your home size and taxes also. The cost of homes around yours would help also. If you like living in a 4000 sf home we will not talk about texas for you.
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Old 02-03-2009, 03:26 PM   #23
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Don't forget local taxes too. I don't think you can make determinations without adding them in. In VA there's just the state income tax rate of 5.75% across the board. But here in MD they have the 5.5% state tax, making it look cheaper than VA. But they also have a county tax of 1.25% - 3.20% depending on which county you live in.
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Old 02-03-2009, 03:43 PM   #24
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jIMOh: Maybe this will help (the format is not very good) but it does have a lot of information by state: Individual Income Tax Rates-2008
This looks right for Idaho, where I live.

You can deduct either the federal standard deduction or your itemized deduction (after adding back any Idaho state income tax paid).

Property tax varies by location, but for Ada County outside of Boise if you figure about 0.5% of your house's market value you'll be a little on the high side. $200K will buy you an average quality new 3br/2ba home with a 2 car garage in subdivision suburbia.

State sales tax is 6% on goods only, not services. Food isn't exempt, but you get a $20pp grocery credit on your state tax return.

There are no local taxes of any kind that I'm aware of.

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Old 02-04-2009, 07:56 AM   #25
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There is an add-in for Firefox that lets you right-click on the HTML table and copy an asciii table. Can paste that in a private message if you like.
YES- do you need my private e-mail or can you send it to me on the ER board?

thx
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Old 02-04-2009, 07:58 AM   #26
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This site has a lot of state tax information. I can't speak for its accuracy, but the Colorado listing looks right.

Coach
another good link. Thank you.
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Old 02-04-2009, 08:00 AM   #27
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We might be able to help you more if you could give your home size and taxes also. The cost of homes around yours would help also. If you like living in a 4000 sf home we will not talk about texas for you.
sure- I have a 3400 sq ft house and pay $5500 in property taxes per year. Paid $352k for house in 2005.
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Old 02-04-2009, 11:22 AM   #28
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Well I was going to say TX, NV, WY or FL. If you like the size of home you have now I would guess NV or WY. In a smaller home you might try TX or FL. Of course it depends what type of weather you like also. For $352k you can go most places listed. So if I am guessing right you are paying about 14k a year in taxes. I think you could save as much as 12k in NV or WY. I am guessing up to a 9k savings in TX or FL.
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Old 02-04-2009, 12:18 PM   #29
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sure- I have a 3400 sq ft house and pay $5500 in property taxes per year. Paid $352k for house in 2005.
Wow, I have a 1400 sq foot ranch and pay $5500 a year...
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Old 02-04-2009, 12:25 PM   #30
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Wow, I have a 1400 sq foot ranch and pay $5500 a year...
My house was valued (for assessment) at $400k last year, prop tax was $933.
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Old 02-04-2009, 12:34 PM   #31
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House is 2,500 sqft, value assessed at $215K, property tax $1,240 or 0.58% of assessed value, more than double what Lakedog pays, yet we are in the same state.

in Alabama the state sales tax is 4% statewide, but each county/city adds their own sales tax, so it adds up to 8.5% where I live, different from neighboring cities and counties.

So it shows that, when it comes to taxes, you really have to assess the tax burden at the local level.
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Old 02-04-2009, 12:47 PM   #32
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House is 2,500 sqft, value assessed at $215K, property tax $1,240 or 0.58% of assessed value, more than double what Lakedog pays, yet we are in the same state.

in Alabama the state sales tax is 4% statewide, but each county/city adds their own sales tax, so it adds up to 8.5% where I live, different from neighboring cities and counties.

So it shows that, when it comes to taxes, you really have to assess the tax burden at the local level.
It certainly makes a difference if you live in a metro area versus out in the boonies -- but I am a little surprised at such a large difference.
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Old 02-04-2009, 12:55 PM   #33
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Texas:
2,700 sqft home, custom built, 3 yr. old
1.1 acres land
300 front ft. on lake
$317,000
$7,100 property Tax, (This will decline by almost $2,000 in 4 yrs as utility bonds will be paid off)
No Income Tax
6.5% sales tax.
$35 state inspection on car
$75 auto registration.
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Old 02-04-2009, 01:09 PM   #34
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It certainly makes a difference if you live in a metro area versus out in the boonies -- but I am a little surprised at such a large difference.
I was surprised too! I thought my property taxes were pretty low already! Must be all those "liberals" (by Alabama standard) running my neck of the woods...
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Old 02-04-2009, 05:15 PM   #35
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Don't underestimate the value of being a perpetual traveler. It's easy to get an "address" in TX or NV and live wherever you want. You'll have to show up somewhere and get a drivers license and be willing to show up there every once in a while for jury duty, etc. Being retired, you don't have an earned income so they have to prove you live there over 6 months out of the year.

Have your "vacation home" anywhere you want. You'll be traveling anyway so make sure all of your utility bills get paid online in an out of state bank. Have all of your mail go to a mail service in your selected "residence" state.

Why would anyone pay state income tax if they are not drawing a wage income?
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Old 02-04-2009, 09:15 PM   #36
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YES- do you need my private e-mail or can you send it to me on the ER board?

thx
Sent that to you in a PM, I think. If you didn't get it, I'll be happy to send again.
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