Quote:
Originally Posted by tis
Wow, NY is the gestapo!!
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All high tax states are the same. The SALT limitation on tax deduction has made them more so. And people are moving out in droves. Of course, this doesn't stop pols from continuing their attempts to tax the wealthy. NJ is trying to pass a "millionaires" tax will only drive more higher end earners out.
The ramifications are that RE in these high end places are taking it on the nose. When we sold our house in Albany NY the local property tax had gone from $6K when we bought in 1989 to just under $25K. We sold for LESS than we bought it for-25 years later!