This article was featured on Yahoo yesterday:
I am not 100% sure that EVERYTHING is accurate, especially after reading some of the comments. But the overall gist....seems that the New England area is the most expensive area for taxes. They are ranking CT as #1. Go us!!!
I know when I have talked about the cost of things here, I frequently get comments about how much LESS expensive it is where you all live. When I said we pay $342 A MONTH for oil....I could hear your collective jaws drop. And remember...that is less than it was in 2008, when we paid $517!
We have high cost of living here...taxes, utilities, food, gas. Connecticut tends to pride itself that it is so much more expensive here...and therefore better? Nah.
The article also listed South Carolina in the bottom 5 for cost of taxes. Well, if our move ever happens (more on that soon), we had decided to move to SC, just over the border. G-man would work in NC, but we could take advantage of the lower prices in SC.
Going from the #1 to the #48 place for taxes....while I worry about how this will all play out....in the end we will probably save a ton from the get-go. Just for our escrow...we currently pay over $600 a month. Just for escrow!!! Based on quick calculations...we will save $400 just in taxes per month.
How about you? Where does your state rank?