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Here is how this works. You can only post about a state you have actually lived in for one year or more. I know a lot of people on here hate California, but if you havn't lived there, please do not comment. List the states you have lived in and the best things about them financially and the worst things. Include anything with financial implications. If the thread works out, after a week I can compile all the things listed about each state in the first post.


Connecticut
Best:
No sales tax on most clothes

Worst:
High home prices
High gas taxes
High utility bills in winter and summer.
Has state income taxes and high property tax
Little growth.
Property tax on cars


Florida
Best:
No Vehicle inspection
No state income tax
Little energy costs during mild winters
No Traffic-Light Cameras
Full creditor protection of primary home
Full creditor protection of annuities

Worst:
Homeowners insurance extremely expensive
Hurricane season preparations can be expensive (generator, fuel storage, shutters, etc)
Cell phone tax is 23% (2nd highest in country)
Much of economy tied to tourism


New Jersey
Best:
Able to get out of police tickets if friends/family with other officers
Cheap gasoline tax
Cheaper to live in than NYC and close enough to commute
No sales tax on clothes
Cell phone tax is cheap

Worst:
State income tax is high
Property taxes are high
Vehicle inspections required
Traffic-Light Cameras becoming common
Creditor Protection of Home limited to $5k equity


Texas
Best:
No state income tax
No state property tax
Cheap vehicle registrations ($50-$70/year based on vehicle weight)
No property tax on cars at all (not local or state)
Relatively low gas tax
High growth state
Low Housing prices - a lot of house for the money.
Low winter utility costs

Worst:
High local property taxes
Aggressive traffic enforcement
Too many uninsured motorists
Sales tax on clothes except one weekend a year.

Member Summary
Most Recent Posts
I'd disagree with great hwy transportation. It's just okay and not a fiscal "pro". More of a personal preference. And ... (more)

Nernst (Apr. 09, 2010 @ 4:11p) |

Agree with Xerty.
If you have a job in California you are paying 50% towards taxes.

backpack (Apr. 11, 2010 @ 11:21p) |

Alaska and Hawaii don't have locality pay systems like the mainland US does. They operate by COLA's. This is going awa... (more)

lotusgardener (Apr. 12, 2010 @ 11:55a) |

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
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Best states to live in without a job -

New York
California

Worst states to live in with a job -

New York
California

Hmm, I think I see how this works.

Live in Washington State to avoid property taxes, shop in Oregon to avoid sales tax.

tripleB said: Here is how this works. You can only post about a state you have actually lived in for one year or more.
Florida
Best:
No Vehicle inspection
No state income tax
Little energy costs during mild winters
No Traffic-Light Cameras

Worst:
Homeowners insurance extremely expensive
Hurricane season preparations can be expensive (generator, fuel storage, shutters, etc)
Cell phone tax is 23% (2nd highest in country)
Much of economy tied to tourism
I thought you lived in Michigan instead of Florida. Or was it Nevada? Or perhaps your account got hacked yet again?

edit: I forgot about Arizona

cameron2003 said: Live in Washington State to avoid property taxes, shop in Oregon to avoid sales tax.
Make that income tax!

ETA: If you bring the goods in and consume it in the Sate of WA, you do owe use tax which is monetarily the same as paying a WA sales tax. Of course, as an individual consumer, you may do without paying it.

uutxs said: cameron2003 said: Live in Washington State to avoid property taxes, shop in Oregon to avoid sales tax.
Make that income tax!

Make that Sales Tax.

Texas
Best:
No state income tax
No state property tax
Cheap vehicle registrations ($50-$70/year based on vehicle weight)
No property tax on cars at all (not local or state)
Relatively low gas tax
High growth state
Low Housing prices - a lot of house for the money.
Low winter utility costs

Worst:
High local property taxes
Aggressive traffic enforcement
Too many uninsured motorists
Sales tax on clothes except one weekend a year.

Connecticut
Best:
No sales tax on most clothes

Worst:
High home prices
High gas taxes
High utility bills in winter and summer.
Has state income taxes and high property tax
Little growth.
Property tax on cars

xerty said: Best states to live in without a job -

New York
California

Worst states to live in with a job -

New York
California

Hmm, I think I see how this works.
You see half right.

WashingtonState said: uutxs said: cameron2003 said: Live in Washington State to avoid property taxes, shop in Oregon to avoid sales tax.
Make that income tax!

Make that Sales Tax.


Washington has a 6.5% statewide sales tax. As of January 1, 2009, sales tax is not applied on most food items and prescription medications (not including over-the-counter medications). Individual counties, municipalities and regional transit authorities are entitled to collect a sales tax, which vary from 0.5% to 2.5%. Within King County, the King County Food & Beverage (KCF&B) tax adds an additional .5% to food and beverages purchased in bars, taverns and restaurants resulting in an effective tax rate of 10.0% (9.5% on all other items).[95] Additionally, the sale or lease of motor vehicles for use on the road incur an additional 0.3% tax, rental of a car for less than 30 days has an additional state/local tax of 8.9%.[95] When renting a car for less than 30 days in Seattle, the total sales tax is 18.6%. When purchasing an automobile, if you trade in a car, the state subtracts the price of the trade when calculating the sales tax to be paid on the automobile (e.g., purchasing a $40,000 car and trading a $20,000 car, you would be taxed on the difference of $20,000 only, not the full amount of the new vehicle).

When staying at a hotel (60+ rooms capacity) in Seattle, the sales tax is 15.6%. Residents of Canada and US states or possessions (only US and Canadian locations having a sales tax of less than 3%, e.g., Oregon, Alaska & Alberta) are exempt from sales tax on purchases of tangible personal property for use outside the state. Stores at the border will inquire about residency and exempt qualified purchasers from the tax.[96] Washington also has a Gross receipts tax called the Business and Occupations Tax (B&O).

Also, the seller of a house pays excise taxes on the full sale price. The amount of the varies by county. In King and Snohomish counties, it is up to 1.78%. For example, selling a house for $500K will cost you $8900 in taxes.

Residents of Washington who purchase goods for use in Washington must pay a use tax in lieu of a sales tax if any one of four conditions are true. If a Washington resident purchases goods and certain services in other states that do not charge a sales tax or charge a sales tax rate less than the sales tax rate in Washington, or if an out of state seller does not collect Washington sales tax, the resident must pay a use tax on all goods that will be used in Washington. Use tax must also be paid if a Washington resident purchases goods from a seller who is not authorized to collect sales tax or if personal property is acquired with the purchase of real property. [97] Washington state does not typically pursue use tax collection for most purchases, however, in 2005, the Washington State Department of Revenue began to make a concerted effort to collect use tax on artworks acquired in other states.[98]

The lowest combined state, county and municipality sales tax rate in Washington is 7.0% in most of Klickitat and Skamania Counties, while the highest combined sales tax in Washington is the 10% tax on prepared food and beverages in King County.

April 1, 2008 saw tax increases in King County (+.001), Kittitas County (+.003), Mason County (+.001), and the city of Union Gap (+.002).[99]

On July 1, 2008, Washington stopped charging an origin-based sales tax, and started charging a destination-based sales tax. This change only applies to transactions beginning and ending within state lines and does not apply to other states.[95] Additionally, Washington started collecting taxes from online retailers that have voluntarily agreed to start collecting the sales tax in return for not being sued for back taxes.[100]

The city of Seattle charges a 7.5% tax on charges for parking garages to go toward mass transit.

On November 4, 2008, voters in King County (Seattle) approved a 0.5% increase in the sales tax. Taxes within the city will increase to 9.5% on retail purchases. This increase was supposed to be effective Jan. 1, 2009 but has been pushed back until April. For the first quarter of 2009 the tax rate in Seattle is 9% (wikipedia)

I was in Orlando a couple weeks ago and they definitely have traffic light cameras. However, I think that I heard that their legality is currently being challenged in an Orange County court.

Just tell me which state doesn't have any meth heads.

retmil said: Just tell me which state doesn't have any meth heads.

Most states on the east coast do not, as of yet.

interested in reading about those cheap mid-western states.

tripleB said:

New Jersey
Best:
Able to get out of police tickets if friends/family with other officers



Not sure how widespread police corruption is somehow a plus, especially since it doesn't help a major drawback to this place:

Worst:
Car insurance cost is insane!

Reminds me of a funny FWF thread last year where some 'kid' had bought one of those stupid 8" tall golden plastic 'PBA' shields for his front windshield...proceeded to drive like a total idiot...then came here complaining about how he was unfairly wronged when the cop gave him a ticket despite his fancy eBay Police Benefit Association shield...LOL...

Tax Foundation - Fiscal Year 2008: State and Local Tax Burdens

Tax Foundation - The complete report, including the above table, with other tax information by state

The point of the report is that you have to consider the total tax burden. Just because a state has no income and/or sales tax, doesn't mean that the state has the lowest tax burden.

ETA:

Tax Foundation State and Local Tax Burden Estimates for 2008: An In-Depth Analysis and Methodological Overview.

tripleB said: retmil said: Just tell me which state doesn't have any meth heads.

Most states on the east coast do not, as of yet.


Meth heads are everywhere.

Meth labs by state

Ohio:
Best:
Low Home prices
No tax on food
(northern Ohio - Unlimited supply of freshwater) get a discount if you use more freshwater
Cheap Natural Gas

Worst:
Property Tax
Sales Tax
Income Tax
(carbonation Tax.. for your soda)

Dumbest thread:

This.

glxpass said: Tax Foundation - Fiscal Year 2008: State and Local Tax Burdens

Tax Foundation - The complete report, including the above table, with other tax information by state

The point of the report is that you have to consider the total tax burden. Just because a state has no income and/or sales tax, doesn't mean that the state has the lowest tax burden.

That is an excellent source for general compaarison. As with any general study, it compares the "average tax burden" on residents of differet states.
report said: For each state, we calculate the total amount paid by the residents in taxes, and we divide those taxes by the total income in each state to compute a “tax burden” measure.
As always, individual situation can be very different; e.g., comparing your tax burden in your current state X vs. in a state Y where you plan to move to.

if you're some canned-bean-eating penny pincher... you will want to avoid California.

if you like making money, smoking-hot women, great weather and great food from all over the world... there's a pretty good chance you already live here.

I'll also add that while one can generalize about a state, and tax burden seems a good way to do that, other financial factors such as employment, cost of living (food prices, transportation costs, etc) might depend heavily on the city/region in which you live. Even local taxes might of course vary according to this. In the end, I don't know how meaningful it is to ask about the best/worst state to live in financially, compared with a city or region in a state.

While a state might have financial statistics that apply to the state as a whole, there are many other financial statistics that could vary widely throughout the state.

fasttimes said: Dumbest thread:

This.


it's a TripleB thread --- so you shouldn't be surprised if you choose to enter

I'll add Hawaii to the top of the list for those without work

and near the bottom in terms of just costs alone

Hawaii is one of the best places to live if you know how to manage your money and you can afford it

And the purpose of this thread is?

NorthStar2020 said: And the purpose of this thread is?

Its a BBB experimental thead. Science for science sake. Pure research.

As for state telecommunications taxes, you can shop providers to avoid paying high tax rates.

Some providers (I think Sprint and Verizon) charge state taxes based on area code, not billing address. If your state has a high tax rate on telecommunications, switch your area code (and maybe provider) to a cheaper state. If I recall correctly, Nevada has the lowest land and cell taxes.

glxpass said: Tax Foundation - Fiscal Year 2008: State and Local Tax Burdens

Tax Foundation - The complete report, including the above table, with other tax information by state

The point of the report is that you have to consider the total tax burden. Just because a state has no income and/or sales tax, doesn't mean that the state has the lowest tax burden.

Those reports are misleading for some states, such as Florida.

The methodology considers the total tax receipts as the measure of taxation, although that measure does not account for taxes paid by out of state residents to the state in question. In the case of a state such as Florida, tourists and snowbirds bring with them tens of billions of dollars in travel money, much of which ends up in the state coffers, either through direct taxes on goods and services (such as accomodations), or indirectly, through income taxes on corporations generating profit from sales to out of state residents.

In the case of Florida, the tax burden listed in those reports is much higher than what a Floridian would pay, since tourists and snowbirds account for a good portion of state revenue.

staci86 said: As for state telecommunications taxes, you can shop providers to avoid paying high tax rates.

Some providers (I think Sprint and Verizon) charge state taxes based on area code, not billing address. If your state has a high tax rate on telecommunications, switch your area code (and maybe provider) to a cheaper state. If I recall correctly, Nevada has the lowest land and cell taxes.

glxpass said: Tax Foundation - Fiscal Year 2008: State and Local Tax Burdens

Tax Foundation - The complete report, including the above table, with other tax information by state

The point of the report is that you have to consider the total tax burden. Just because a state has no income and/or sales tax, doesn't mean that the state has the lowest tax burden.

Those reports are misleading for some states, such as Florida.

The methodology considers the total tax receipts as the measure of taxation, although that measure does not account for taxes paid by out of state residents to the state in question. In the case of a state such as Florida, tourists and snowbirds bring with them tens of billions of dollars in travel money, much of which ends up in the state coffers, either through direct taxes on goods and services (such as accomodations), or indirectly, through income taxes on corporations generating profit from sales to out of state residents.

In the case of Florida, the tax burden listed in those reports is much higher than what a Floridian would pay, since tourists and snowbirds account for a good portion of state revenue.
The tax burden listed for Florida is the 4th lowest in the nation (after Alaska, Nevada, and Wyoming), so I doubt the difference you speak of is very significant.

Missouri
Best:
Low state income taxes
Low property taxes
One of the lowest fuel taxes in the country
Low cost of living
Low Housing prices - a lot of house for the money
Some of the lowest electricgas rates in the country
Excellent parks and various cheap\free entertainment

Worst:
High registration tax on cars, boats, etc based on value
Awful government services (road maintenance, public transit, unemployment, student aid, etc.)
Backwards politics (part of the bible belt, state government can't afford to pay attention)
Low economic growth

cameron2003 said: tripleB said: retmil said: Just tell me which state doesn't have any meth heads.

Most states on the east coast do not, as of yet.


Meth heads are everywhere.

Meth labs by state


Missouri.....

skwz said: cameron2003 said: tripleB said: retmil said: Just tell me which state doesn't have any meth heads.

Most states on the east coast do not, as of yet.


Meth heads are everywhere.

Meth labs by state


Missouri.....
Well, that also means they are likely business/entrepreneur friendly.

staci86 said: As for state telecommunications taxes, you can shop providers to avoid paying high tax rates.

Some providers (I think Sprint and Verizon) charge state taxes based on area code, not billing address. If your state has a high tax rate on telecommunications, switch your area code (and maybe provider) to a cheaper state. If I recall correctly, Nevada has the lowest land and cell taxes.

glxpass said: Tax Foundation - Fiscal Year 2008: State and Local Tax Burdens

Tax Foundation - The complete report, including the above table, with other tax information by state

The point of the report is that you have to consider the total tax burden. Just because a state has no income and/or sales tax, doesn't mean that the state has the lowest tax burden.

Those reports are misleading for some states, such as Florida.

The methodology considers the total tax receipts as the measure of taxation, although that measure does not account for taxes paid by out of state residents to the state in question. In the case of a state such as Florida, tourists and snowbirds bring with them tens of billions of dollars in travel money, much of which ends up in the state coffers, either through direct taxes on goods and services (such as accomodations), or indirectly, through income taxes on corporations generating profit from sales to out of state residents.

In the case of Florida, the tax burden listed in those reports is much higher than what a Floridian would pay, since tourists and snowbirds account for a good portion of state revenue.

I believe the study already takes this into account, as mentioned in Tax Foundation State and Local Tax Burden Estimates for 2008: An In-Depth Analysis and Methodological Overview. I'll add the link to my other post.

NorthStar2020 said: And the purpose of this thread is?

To put all FWF members in one State so they can poison us all.
I ain't movin'.

tripleB said: retmil said: Just tell me which state doesn't have any meth heads.

Most states on the east coast do not, as of yet.


Are you kidding me there are tons o meth heads in SC.

craftsmd said: tripleB said:

New Jersey
Best:
Able to get out of police tickets if friends/family with other officers



Not sure how widespread police corruption is somehow a plus


Corruption is ALWAYS a plus if you are a part of it. Its a zero sum game. The people engagin in corruption wins and everyone else loses. In NJ I have connections such that I get out of traffic tickets. PBA cards are great in the Garden State

tripleB said: craftsmd said: tripleB said:

New Jersey
Best:
Able to get out of police tickets if friends/family with other officers



Not sure how widespread police corruption is somehow a plus


Corruption is ALWAYS a plus if you are a part of it. Its a zero sum game. The people engagin in corruption wins and everyone else loses. In NJ I have connections such that I get out of traffic tickets. PBA cards are great in the Garden State
being part of political corruption is not ALWAYS a plus... especially not when the US Attorney's office decides to put your name in BIG CAPS on the front of a Federal indictment.

I'm considering moving from Texas to the Portland, OR area. What are the ramifications of this, other than what has already been stated? Is it best to live in Oregon or Washington? As I understand, you cannot expect to avoid Oregon income tax by working in Portland but living in Washington -- you STILL owe it.

Iowa-

Low or no income tax on low income
Mid to high income tax on moderate income

Mid sales tax (6% state, additional 1-3% per county)
Mid vehicle tax (purchase, registration)
Low auto insurance rates
Low to mid property tax rates

Abundance of county, state gov't assistance programs
Low crime (except for certain cities)

Good place to live if below the poverty line. If middle income, choose somewhere else.

jwardl said: I'm considering moving from Texas to the Portland, OR area. What are the ramifications of this, other than what has already been stated? Is it best to live in Oregon or Washington? As I understand, you cannot expect to avoid Oregon income tax by working in Portland but living in Washington -- you STILL owe it.
As a general rule, state tax is owed based on where you earn it. If you work in Portland (OR), you will owe OR state income tax even if you live in WA (of course none to WA since it has no income tax).

If you have the option, work in WA and live (or at least shop) in OR.

Having lived in OR and TX, I have to disagree with part of OP's post regarding TX.
TX has high insurance rates (home and car). TX also has high registration rates for car and depending on the town, the vehicle inspection rate varies. Electricity rates are also high in TX.

Florida

- Homestead exemption (like a tax credit) for part of your residence's taxable value, decreases property tax
- Recently, homestead exemption was made portable (previously, if you moved, your tax basis was reset which was a penalty for moving)

- Central Florida area has many toll roads, and if you don't use them then you end up in bad traffic.

Skipping 116 Messages...
katx said: germanpope said: katx said: Are salaries higher in Hawaii?

in certain professions or with the federal government (25% COLA) yes
but in many cases --- no, they are worse

the public schools are not very good
so if you have kids, you either have to live near the few that are good or pay for private schools


...
Which year was COLA 25%? That sounds awfully high.

In my experience, generally salaries are higher in areas where cost of living is higher.


Alaska and Hawaii don't have locality pay systems like the mainland US does. They operate by COLA's. This is going away I believe either this year or next year.



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