file photo by Boyd Loving
CNBC data analysis shows outbound flow from high-tax states.
John W. Schoen | @johnwschoen
Everyone complains about taxes. But millions of American households apparently are doing something about it: Picking up and moving.
A CNBC analysis of tax data and figures provided by two major national moving companies shows that states with the highest per-capita taxes, for the most part, are also seeing the biggest net migration out of those states.
Take Connecticut, for example.
Earlier this week, the Nutmeg State’s legislature approved a collection of new taxes to close a two-year, $40 billion budget to help pay the multibillion-dollar tab to repair and replace the state’s dilapidated roads and bridges. The package includes a 50-cent-per-pack hike in cigarette taxes and a bump in tax rates on corporations and the state’s wealthiest earners.
The budget battle drew heated debate, along with threats from large employers like General Electric, which issued a rare statement that it might consider moving its Fairfield headquarters.
Republican opponents warned that the tax hikes would likely drive residents to flee to lower-tax states. One legislator suggested that a local moving-and-storage company up for sale should do a booming business moving households from the state.
“I think the best buy in Connecticut right now is a business for sale in Westport,” Michael A. McLachlan, R-Danbury, told the AP earlier this month as the debate wore on. “For $650,000, a sharp investor can get up and increase this business into a mega moving company, because that’s what people are going to be doing, starting today.”
Yes, if you can’t afford to live in Rdgewood then by all means move. Stop trying to impress people.
The “for sale” sign and the graduation sign together…….a Ridgewood tradition.
Loved the picture a few years ago with the twins or triplets graduating and the sale sign…a classic.
You don’t go to a Mercedes Benz Dealership to buy a new car with just enough money to buy a Ford and then complain about it unless your Charlie K.
The state sends lots of pension checks to Florida for just this reason
It has nothing to do with not being able to afford to live in Ridgewood. It has everything to do with no longer needing to live in Ridgewood while at the same time, having more money in your pocket by living else where.
Companies will also leave states with poor infrastructure and a poorly educated workforce both items need to be paid for.
Unless money is not an issue, or your parents sold you their house at below market rates, why would anyone without kids in the schools live here? Average property taxes are heading towards $20,000 in Ridgewood. There are plenty of great places to retire to with lower state taxes and property taxes at a fraction of Ridgewood. $20,000 will buy you three or four years of property taxes in places like Boulder, CO.
That’s why Ridgewood taxes need to consider people who don’t have kids in school and offer more amenities that appeal to empty nesters.
I have lived here for 30 years. It has nothing to do with not being to afford the taxed. The taxes are very high and it is just wasteful to pay for a school system that I have stiooed using.
I am here because of friends and family in the area. At this point many of are talking about where to move. Living here does not enhance my life or status. And I do not drive a Mercedes for the same reason.
When you pay $100mn for your schools and $20 million for public safety in a Village of less than 25,000, taxes happen
I can’t wait to see what happens to taxes when we implement the full day kindergarten that is being pushed.
I like living here and never had kids in schools. The last thing is would do is move to some hick place to save a few grand per year. What’s there to do? Go to a truck pull or nascar race? No thanks
geez you need to get out more
Everyone I know who moved from Ridgewood to Mahwah in order to save on taxes is very unhappy. What can you walk to in Mahwah?
I am not happy about the effort to push full day kindergarten in Ridgewood. We will need twice as many teachers and classroom to make this happen.
The school system is already 75% of my taxes. No More!