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Peter wrote:
Such folks, like myself, are going to move to an adjacent no-tax state (Nevada and Washington come immediately to mind). Heh...that's funny. If you smoke cigarettes you'll pay more tax in NV and WA than in California. Both WA and NV charge lower sales taxes than CA, but WA charges taxes on both goods AND services, which can be quite substantial. For instance, a car repair might cost $100 in parts but $600 in labor. In CA the labor isn't taxed. Property taxes: Interesting note here. WA is willing to defer some or all property taxes to the elderly, BUT they will then put a lien against the property so that the person can't leave the property free and clear to anyone without first paying off the property tax lien. In CA the property tax is limited to 1% of assessed valuation, which can never be more than market value. Neither WA nor NV had any limit on how high property taxes can go relative to assessed valuation. Good luck in finding that retirement bargain... |
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