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YurytheRed

Staying in Jersey

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6 minutes ago, bucky said:

I like NJ, but the taxes SUCK !!! $600 a month property tax verses $600.00 year some wheres else,thats crazy:shock:

I haven't seen $600.00 a month for about a decade. It only gets worse from there bud. Right now, what I spend in property taxes alone could pay for 2 months of renting a condo in Florida for the winter months, including eating at a gourmet restaurant 5 nights  a week while we're there. 

When we do sell and downsize, my savings in taxes will fund my 2 month snowbird lifestyle each year

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3 hours ago, BothBarrels said:

All three of my sons, in their mid to late twenties, are making their way in life here in New Jersey. Grandchildren will be coming soon. I'm staying.

I just try not to think about all the crap.

Exactly-I'm too busy working, raising kids, and living a fulfilling life to sit around worrying about property taxes.  Especially since they're not all that bad here (no services).  The only thing I really want that I can't have here is the right to carry.

Edited by Swamp_Yankee
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4 minutes ago, DV1 said:

When we do sell and downsize, my savings in taxes will fund my 2 month snowbird lifestyle each year

Remember to downsize in NJ.  If you sell your house in NJ and move out of state, you owe the state taxes on the sale of your home.

It's probably cheaper to abandon your home and burn it down for insurance money.

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Just now, Haskell_Hunter said:

Remember to downsize in NJ.  If you sell your house in NJ and move out of state, you owe the state taxes on the sale of your home.

It's probably cheaper to abandon your home and burn it down for insurance money.

or sell one year before moving out and rent for that one year

 

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Mine and my wife’s whole families are here, and I have a job I absolutely love. It’s such a shame because I live in hunterdon county on 3.5 acres, can hunt out my back door and trout fish 1 min down the road. Although there’s so much to like the crippling taxes and Marxist government takeover we’re experiencing under this current scumbag murphy will make this place unlivable in the not so distance future so I think any red blooded conservative needs to develop an exit plan. It seems like every week another insane leftist law or restriction gets put into place whether it be more onerous gun control, rain taxes or a small business destroying $15 min wage. Every time I see that i die a little more inside and become more embarrassed by the day I’m from this state. This should be a shining example to the rest of the country that liberals and democrats are a cancer which destroys everything it controls and touches 

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I plan on retiring in a few months and hope to move out of NJ. in a year thereafter.  I want a farm in Virginia or the Carolinas. Wife wants a condo on the ocean...... will see what happens.

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3 minutes ago, Haskell_Hunter said:

Remember to downsize in NJ.  If you sell your house in NJ and move out of state, you owe the state taxes on the sale of your home.

It's probably cheaper to abandon your home and burn it down for insurance money.

So you figure doing time for insurance fraud is better than paying 2% of the sale price?  Personally I think the loss of income and the lack of employment opportunities due to the felony conviction would be more costly over the long term:

https://www.plymouthrock.com/blog/expert-explains-really-nj-exit-tax/

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1 minute ago, Merkel said:

I plan on retiring in a few months and hope to move out of NJ. in a year thereafter.  I want a farm in Virginia or the Carolinas. Wife wants a condo on the ocean...... will see what happens.

does my wife and yours trade notes?  LOL

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4 hours ago, Lunatic said:

Maybe her cooking will improve by then? :shock:

Not a chance. My kids call everything she cooks, twice killed. One at the slaughter house and then again when their Mom burns it. 

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21 minutes ago, Swamp_Yankee said:

Exactly-I'm too busy working, raising kids, and living a fulfilling life to sit around worrying about property taxes.  Especially since they're not all that bad here (no services).  The only thing I really want that I can't have here is the right to carry.

I think most are living a fulfilling, busy lives. But at some point taxes and government have an impact on all our lives and that is not how it is meant to be. 

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31 minutes ago, DV1 said:

For those dreaming of retiring to some hunting paradise, I suggest waiting until you're at least 55 before making the jump, or even purchasing what you think will be your retirement paradise. Why??? Well, if you asked me 5 years ago what I wanted in a retirement location, it would have been much different than it is today. 

I know several other people who ended up the same, some even bought their retirement hunting paradise early to have it paid off, only to discover that taking care of a large hunting farm or property with food plots, stands/blinds, etc, and living in the middle of nowhere, was not what they wanted in their 60's and 70's.

Not only is it a lot of physical work, but as most people age, hunting becomes less important and other things take on greater importance. If you told me 10 years ago I would feel the way I do now, I would have said impossible, really impossible. 5 years ago I would have said highly unlikely. Now, well, things change as you age. 

The 5 year plan I mentioned isn't only for the kids to be ready, it's for us to visit several potential locations over the next 5 years to make sure that it's what we want in our 60's, 70's and beyond.

Of course, everyone is different, and some may find that in their 70's whitetails and habitat management may be all they still think about. Most don't end up that way but I guess some still may. 

You nailed it! By the time you retire Your back hurts,bad knees and hips and you can't remember anything!:doh2: My family is in N.J. so here I'll stay.

Edited by toxo

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19 minutes ago, Swamp_Yankee said:

So you figure doing time for insurance fraud is better than paying 2% of the sale price?  Personally I think the loss of income and the lack of employment opportunities due to the felony conviction would be more costly over the long term:

https://www.plymouthrock.com/blog/expert-explains-really-nj-exit-tax/

If you get caught, you're not doing it right.

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Son has two more years of high school and then we could go anywhere.  Not sure yet.

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38 minutes ago, Haskell_Hunter said:

Remember to downsize in NJ.  If you sell your house in NJ and move out of state, you owe the state taxes on the sale of your home.

It's probably cheaper to abandon your home and burn it down for insurance money.

I was under the impression that your first home sale was exempt from capital gains tax, has that changed? The "exit tax", as I understand it, is really sales tax on the profit from the sale of the home. If it's your first home sale, I think your are exempt from this tax. 

Any tax or real estate people who can clarify. 

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