https://gotoby.com/wp-content/uploads/2020/10/go-toby-logo.jpg 0 0 Toby Tobin https://gotoby.com/wp-content/uploads/2020/10/go-toby-logo.jpg Toby Tobin2009-10-28 00:00:002021-03-19 15:00:30Tax refugees staging escape from New York – Florida, NJ Benefit Most
Tax refugees staging escape from New York – Florida, NJ Benefit Most
New Yorkers are fleeing the state and city in alarming numbers — and costing a fortune in lost tax dollars, a new study shows
Palm Coast, FL – October 28, 2009
By: ANDY SOLTIS (New York Post – October 28, 2009)
New Yorkers are fleeing the state and city in alarming numbers — and costing a fortune in lost tax dollars, a new study shows.
More than 1.5 million state residents left for other parts of the United States from 2000 to 2008, according to the report from the Empire Center for New York State Policy. It was the biggest out-of-state migration in the country.
The vast majority of the migrants, 1.1 million, were former residents of New York City — meaning one out of seven city taxpayers moved out.
"The Empire State is being drained of an invaluable resource — people," the report said.
What’s worse is that the families fleeing New York are being replaced by lower-income newcomers, who consequently pay less in taxes.
While New York City and the state were the losers, the Sunshine and Garden States were winners. more than 250,000 New Yorkers who lived in and around the city fled to Florida. Another 172,000 city taxpayers ended up in New Jersey.
Why all the moving vans? The center, part of the conservative Manhattan Institute, blames the state’s high cost of living and high taxes.
Toby’s Commentary: Florida politicians should take note. Sunshine is great (I don’t like the temperature less than my age), but sunshine, low taxes, a low cost of living, and a diverse economy fueled by more than tourism is better.
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Tolls on exiting roadways
New York has removed many tolls from inbound traffic, and placed them on outbound traffic, as many more leave than come to the state. For what New York state charges for income tax you can live in Florida and pay for all your food. Property taxes also are 5 times what they are in Flagler county. Many see the big Apple as a Florida Orange, once they taste the savings.
ITS NO BARGAIN
I am a P.C./Grand Haven home owner/taxpayer and this was to be my future. However I still live on Long Island in New York. The people of P.C. are delusional and here is an example why. The home I have in New York I could sell tomorrow for the same price as last year. My home in P.C. I cannot give away. Now would you rather pay high property taxes on a home that holds it value or pay taxes on a home that is worth half what it was last year and I cannot give it away. Unemployment is at 16%,electric, water, food, home owners insurance, gas for my car are no cheaper than in N.Y..However, I will give you the weather.
Reply to John
Do not forget the state and city income tax. NY State max rate is 9%. City is about 3%. Of course, if you were a realtor, income is not an issue.
Apples to apples – the median price of a home in Flagler County is not only well below NY City but also below the Florida average and the national average. Most studies that analyze fully loaded tax burden show New York near the top of the list with Florida much lower.