Don't forget local tax. Every county in IN had local taxes as of 2014, and that rate varies. States have to get their money from somewhere, but it doesn't always balance out it's important for an individual to look at their own circumstance and calculate it all, not based on national averages. I live in FL, no income tax but our state sales tax is 6% with counties adding .5 or so. My area is 7% total. IN is 7% statewide, but they also have some other ancillary taxes in certain counties on food and such. You not only need to look at the sales tax rate, but the types of things that are taxed. FL has a lot of items, like services and most food, that aren't taxed. You look at TN with no income tax and their super high approximately 10% rate and you may think 3% isn't that big of a deal on sales tax, but that also includes your food. They don't give breaks on sales tax like FL does. However, the food cost is lower, so you might spend less or about the same at the end of the day. Shipping isn't the only thing brings up cost of groceries. I used to be able to go to IN & KY to visit family and I paid a third of the price for OJ that was actually made where I live. However, the overhead cost to the grocery stores was higher, so they pass that one. FL has fairly low property tax, for the most part but you wouldn't think that if you looked at national averages because so many homes are so high here, especially in the coastal area. You can get better prices inland, but it's not desirable. FL gets a lot of income from businesses and sales tax but there's a lot of money coming because of tourist industry. You get a state that doesn't generate a of income and they have to get the funding from residents. I'm looking to move out of FL because it's the insurance that's pushing me out, and the horrible summer heat which doesn't get a winter break every year. It's costing too much to live here. 80% of my mortgage payment is insurance now. We're having a crisis because of it. Even though my property tax is low, and after 14 years in my home the equity is really good on my house, but insurance doubled two years ago and last year tripled. It's unaffordable. I'm working on trying to figuring out the actual variances in all cost of living for myself to see how much of a difference it really is, but it's not just about that. I want to live in an area with a better quality of life. I'm originally from IN, but have lived in FL since I was a kid. I'm looking in IN and MN at this point despite the income tax. Years ago it was TX & TN to avoid income tax and have a nice quality of life, but I want somewhere I'd be happier long term.
Thanks for the videos! Just subscribed. I Invest in Indy but live in California. Although I'm very interested in what life is like in Indy. Not planning on moving there but that could change in a couple years!
I live in Texas and yes, no income tax, but property taxes are what kills us! I think we are like #3 or #4 for highest property taxes. One of the reasons we are considering Indy to move to next year.
I love McCordsville! It's right near Fortville and they're both up-and-coming areas with lots of new builds and new businesses! It's still got the 'small town feel' but easy to get to the mall and bigger towns!
Thank you for sharing your videos maam. How about living in terre haute can you make a videos about the place, lifestyle, apartments for rent, transportation and many more. Thank you maam.
Don't forget local tax. Every county in IN had local taxes as of 2014, and that rate varies. States have to get their money from somewhere, but it doesn't always balance out it's important for an individual to look at their own circumstance and calculate it all, not based on national averages. I live in FL, no income tax but our state sales tax is 6% with counties adding .5 or so. My area is 7% total. IN is 7% statewide, but they also have some other ancillary taxes in certain counties on food and such. You not only need to look at the sales tax rate, but the types of things that are taxed. FL has a lot of items, like services and most food, that aren't taxed. You look at TN with no income tax and their super high approximately 10% rate and you may think 3% isn't that big of a deal on sales tax, but that also includes your food. They don't give breaks on sales tax like FL does. However, the food cost is lower, so you might spend less or about the same at the end of the day.
Shipping isn't the only thing brings up cost of groceries. I used to be able to go to IN & KY to visit family and I paid a third of the price for OJ that was actually made where I live. However, the overhead cost to the grocery stores was higher, so they pass that one.
FL has fairly low property tax, for the most part but you wouldn't think that if you looked at national averages because so many homes are so high here, especially in the coastal area. You can get better prices inland, but it's not desirable. FL gets a lot of income from businesses and sales tax but there's a lot of money coming because of tourist industry. You get a state that doesn't generate a of income and they have to get the funding from residents.
I'm looking to move out of FL because it's the insurance that's pushing me out, and the horrible summer heat which doesn't get a winter break every year. It's costing too much to live here. 80% of my mortgage payment is insurance now. We're having a crisis because of it. Even though my property tax is low, and after 14 years in my home the equity is really good on my house, but insurance doubled two years ago and last year tripled. It's unaffordable. I'm working on trying to figuring out the actual variances in all cost of living for myself to see how much of a difference it really is, but it's not just about that. I want to live in an area with a better quality of life. I'm originally from IN, but have lived in FL since I was a kid. I'm looking in IN and MN at this point despite the income tax. Years ago it was TX & TN to avoid income tax and have a nice quality of life, but I want somewhere I'd be happier long term.
Thanks for the videos! Just subscribed. I Invest in Indy but live in California. Although I'm very interested in what life is like in Indy. Not planning on moving there but that could change in a couple years!
I live in Texas and yes, no income tax, but property taxes are what kills us! I think we are like #3 or #4 for highest property taxes. One of the reasons we are considering Indy to move to next year.
what are your thoughts on Mccordsville? I will be moving there soon! I love the videos keep up the great work!
I love McCordsville! It's right near Fortville and they're both up-and-coming areas with lots of new builds and new businesses! It's still got the 'small town feel' but easy to get to the mall and bigger towns!
email paige@bestlifeindianapolis.com & I'd love to help!
Thank you for sharing your videos maam. How about living in terre haute can you make a videos about the place, lifestyle, apartments for rent, transportation and many more. Thank you maam.