Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
States tax rate rankings: Bloomberg
Old 12-31-2007, 01:28 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
States tax rate rankings: Bloomberg

I just found this, and it looks like an old Bloomberg Wealth Management ranking system of different States done in 2003. I am posting this only because: 1. I never saw it before, and figured I cannot be the only one; and 2. I felt it was pretty interesting and might help someone in their search for where to live or stay.
Do you think these figures are still vital since it is now 2007?

How the States Stack Up T
__________________

__________________
Orchidflower is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-31-2007, 02:35 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
Say, I just found Nords wrote that this study was available in 2005; however, enjoy the posting. (Sorry, Nords...)
__________________

__________________
Orchidflower is offline   Reply With Quote
Old 12-31-2007, 02:36 PM   #3
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
I couldn't get the page to load, but I *think* maybe I found the same page here:

http://www.jpaulknight.com/investing/wealthfriendly.pdf

Is this it? :confused: By the way, I love your interest in comparing taxes of different locations, and always look forward to your posts.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 12-31-2007, 05:51 PM   #4
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 97
Quote:
Originally Posted by Want2retire View Post
I couldn't get the page to load, but I *think* maybe I found the same page here:

http://www.jpaulknight.com/investing/wealthfriendly.pdf

Is this it?
That's it.
__________________
starter82 is offline   Reply With Quote
Old 12-31-2007, 06:47 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Thanks for sharing. I was surprised how Missouri rated for retirement.
__________________
Notmuchlonger is offline   Reply With Quote
Old 12-31-2007, 09:29 PM   #6
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Yep, that's the one. Note how Hawaii ranks in "real wealth" and "retirement". But don't come here if you're still pulling down a paycheck.

Bloomberg sold Wealth Management to Highline Media a year or so ago, and the magazine no longer publishes that article. Highline is an exceptionally aggressive direct-marketing firm, too, and I've had to stamp out a number of offers from their "advertising partners"... so beware if you use their website or subscribe to any of their products.

But I still receive Wealth Manager and I hugely enjoy reading how the financial-services sector drools & deceives views us customers.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 12-31-2007, 09:57 PM   #7
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Look at how nicely Louisiana is scored! A's, A-'s, and A+'s. Not bad, eh?

Frank says they must be out of their minds. I think the reason for it is the half million dollar salaries and million dollar homes. I doubt we have many people in either category here.

But if anybody wants to retire in this great "A" rated place, you can buy a great home from me any time! It's less than a quarter million (cheap, yes?) and I'll give you a super deal. The property taxes are the lowest I've heard of. And Mardi Gras is free.

Oh, well, one can wish!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-01-2008, 12:23 AM   #8
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
My son says I have OCD I have studied these tax figures for so long now (3 years). I don't care. He can run his mouth. I want to pick a place and plant down. Moving around wastes time, money and effort and I am old, fat and lazy now...haha!
__________________
Orchidflower is offline   Reply With Quote
Old 01-01-2008, 12:29 AM   #9
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
I put this on the FIRE AND Money board here, but nobody answered. Let me try this:

Financial definition help needed, please!
__________________
Orchidflower is offline   Reply With Quote
Old 01-01-2008, 12:08 PM   #10
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Well I think this study is a bit skewed. They use 500k for housing for retirees. 500k house in Texas,Missouri or Tenn is alot of house! Plus the property tax in those states is quite a bit different. I would have preferred them use a mean house value but I guess they used 500 when comparing the 50 states.
__________________
Notmuchlonger is offline   Reply With Quote
Old 01-02-2008, 09:22 AM   #11
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
Louisiana has such a low cost of living, Want2retire, that I can see how it rates highly. Plus, your property tax is the very lowest in the nation.
My sister is married to a surgeon and had a big house--and her property tax was something like $500 compared to my bungalow in Bellaire/Houston which was what? $3K when I bought it like 22 years ago?
__________________
Orchidflower is offline   Reply With Quote
Old 01-02-2008, 09:42 AM   #12
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Quote:
Originally Posted by Orchidflower View Post
Louisiana has such a low cost of living, Want2retire, that I can see how it rates highly. Plus, your property tax is the very lowest in the nation.
My sister is married to a surgeon and had a big house--and her property tax was something like $500 compared to my bungalow in Bellaire/Houston which was what? $3K when I bought it like 22 years ago?
That's probably it. My property tax was just $551 last year on a 3BR 2 bath 1558 sq ft house in a good neighborhood. It's not as nice as your sister's house, but I have only had it for 5 years. If I had had it longer than that, then the assessment for tax purposes, and taxes, would probably be even lower!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-02-2008, 09:59 PM   #13
Full time employment: Posting here.
dessert's Avatar
 
Join Date: Jan 2007
Location: Southern Louisiana
Posts: 517
Quote:
Originally Posted by Want2retire View Post
If I had had it longer than that, then the assessment for tax purposes, and taxes, would probably be even lower!
W2R, that's correct. Been in my home 22 yrs, 4 BR, 2.5 bath, 1900 LA, 4-car carport with shop, on 1 acre in nice neighborhood..........and this is the honest to goodness truth.....my property tax on that was $6.92 last year.

But we all complain about the bad roads....go figure!
__________________
dessert is offline   Reply With Quote
Old 01-02-2008, 10:12 PM   #14
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Quote:
Originally Posted by dessert View Post
W2R, that's correct. Been in my home 22 yrs, 4 BR, 2.5 bath, 1900 LA, 4-car carport with shop, on 1 acre in nice neighborhood..........and this is the honest to goodness truth.....my property tax on that was $6.92 last year.

But we all complain about the bad roads....go figure!
Where in Louisiana do you live? I'm assuming Louisiana from the bad roads.

Seriously, when I crowed about lower than expected property taxes at a group that I attend, ALL the women there said that they paid no property taxes. They bought their homes when the value was less than the homestead exemption.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-03-2008, 10:09 PM   #15
Full time employment: Posting here.
dessert's Avatar
 
Join Date: Jan 2007
Location: Southern Louisiana
Posts: 517
Quote:
Originally Posted by Want2retire View Post
Where in Louisiana do you live? I'm assuming Louisiana from the bad roads.
WTR I sent you a short PM.
__________________
dessert is offline   Reply With Quote
Old 01-03-2008, 10:42 PM   #16
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Quote:
Originally Posted by dessert View Post
WTR I sent you a short PM.
Thanks, I got it. Hope you can visit New Orleans and see some REAL potholes some time.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-05-2008, 10:52 AM   #17
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
I have been doing homework on property rates, and, if you want low property tax rates, you can't beat Louisiana or Alabama. Gulf Shores is a new retiree mecca in Alabama, but I understand it didn't recover yet from the hurricane a few years ago. Pity! (Close to Mobile, by the way)
__________________
Orchidflower is offline   Reply With Quote
Old 01-05-2008, 11:08 AM   #18
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Quote:
Originally Posted by Orchidflower View Post
I have been doing homework on property rates, and, if you want low property tax rates, you can't beat Louisiana or Alabama. Gulf Shores is a new retiree mecca in Alabama, but I understand it didn't recover yet from the hurricane a few years ago. Pity! (Close to Mobile, by the way)
Before Katrina, I was thinking Fairhope might be ideal. A lot of people retire there. Actually I think Fairhope is probably still a reasonable retirement destination for many people though as you probably recall I am looking further north in Missouri.

As for Gulf Shores, many New Orleans residents keep a condo there for a cheap weekend beach retreat. I looked at them online before Katrina, and some were very reasonably priced. As you mentioned, that area apparently took some storm damage though I have not seen it myself since I haven't been there for several years.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-05-2008, 02:04 PM   #19
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,044
I can confirm that Alabama (ranked #2 overall) is a great state to build wealth. If you are lucky enough to have a well paid job down here, then you have it made. Our networth growth has accelerated dramatically since we moved here, mostly because of the low cost of living and the low taxes. Only black mark for Alabama (which may affect negatively your networth): very weak asset protection in case of lawsuits. Home equity is protected only up to 10K I believe, 401K is protected under federal law, but everything else is fair game.
__________________
FIREd is offline   Reply With Quote
Old 01-05-2008, 04:12 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,451
Quote:
Originally Posted by Want2retire View Post

But if anybody wants to retire in this great "A" rated place, you can buy a great home from me any time! It's less than a quarter million (cheap, yes?) and I'll give you a super deal. The property taxes are the lowest I've heard of. And Mardi Gras is free.

Oh, well, one can wish!

By all accounts the people in the Big Easy, were very nice to the folks visiting from Hawaii, and I briefly thought it would be fun to live there for a few months a year. However,those mean Georgia Bulldogs thrashed our poor Hawaii Warrior football so completely in the Sugar Bowl that it soured me on New Orleans for a while sorry
__________________

__________________
clifp is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Property Tax Rates: Different States, Different Strokes? Orchidflower FIRE and Money 39 10-28-2007 02:41 PM
Community Property States--Tax Basis charlie FIRE and Money 2 03-26-2007 01:39 PM
States with no income tax renferme Life after FIRE 71 03-19-2007 04:32 PM
US States - Tax Burden Ranking Danny FIRE and Money 20 04-09-2006 10:27 AM
Bloomberg's ranking of tax-friendly states Nords FIRE and Money 14 06-23-2005 04:30 AM

 

 
All times are GMT -6. The time now is 06:09 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.