Contemplating a Move in 2008?
If you’re contemplating a move in 2008 (despite the crazy housing market), consider these spots. These towns are where Money magazine says the best places to live in 2007 are:
1 Middleton, WI
2 Hanover, NH
3 Louisville, CO
4 Lake Mary, FL
5 Claremont, CA
6 Papillion, NE
7 Milton, MA
8 Chaska, MN
9 Nether Providence (Wallingford), PA
10 Suwanee, GA
Money claims to take into consideration financial information, education, housing, weather, health, leisure and culture and the nebulous “quality of life” category.
But what intrigued me was, you guessed it, the taxes. Specifically, I was interested in the averages of the “best” places to live.
Here’s how it breaks down:
The average sales tax rate was 6.74% (in Philadelphia, we’re at 7%).
The average state income tax rate (highest bracket) is 6.38%. The average state income tax rate (lowest bracket) is 2.74%.
Where does your town or city rank? Do you agree?
Tags: Money magazine, taxRelated Stories
POSTED IN: tax policy
2 opinions for Contemplating a Move in 2008?
Vinny
Mar 27, 2008 at 1:13 pm
Let’s hear it for my new home of Chicago! Thanks to recent increases to bail out mass transit and fund some extra county patronage jobs, our sales tax will climb to 10.25% by the end of the year.
State income tax is a flat 3%. I’m just surprised that the city doesn’t levy an income tax.
Kelly
Mar 27, 2008 at 1:19 pm
Vinny, it’s possible that the city is prohibited from imposing an income tax by the state. I don’t know Illinois law but Pennsylvania law prohibits local governments from imposing an “income tax” - that’s why Philadelphia has a “wage tax.” I’m not kidding.
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