LOL, a podcast I listen to regularly (any other Satellite Sisters here?) announced today they are doing a SS meet up in October….guess where? Minneapolis!!! Thought that was an odd coincidence!
I’ve met youdon’tsay IRL. She’s a hoot, tons of fun, and a wonderful person!
@Youdon_tsay (and others) - I’m in! Just let me know when!!
my house goes on the market Wednesday. I certainly hope noone complains about tiny holes from removing picture hooks, based on the lightbulb story. The contractors keep finding things, and the color I painted did not match what was there previously on the shutters so the HOA had a hissy fit and now I have to repaint them to a color they accept. (i personally loved the medium blue on pink brick, now i have to go Navy). I have run over budget. The kitchen doors and drawers are not done, and will be buyers choice now with samples put out to be done before closing. I will be very disappointed if the house sits. I am pricing it correctly for the market here (suburb Atlanta). So stressed.
We are in MD and thinking/exploring PA for retirement because of its tax-friendliness.
We aren’t going anywhere as long as my mid-80s parents (who live 3 miles from us) are alive. We would take them with us, except by the time we retire in 3-4 years, I think it would be too hard for them to move.
We have a lot of people who come here from MD telling us both that they get more bang for their buck and lower taxes. H works in Civil Engineering with land development, environmental, etc, and hears a ton of various backgrounds, esp from retirees.
At least in our are the atmosphere is far more laid back too - people “talking story” vs just “doing business,” and fewer HOA or restrictions if there are HOA. That can be a pro or con pending your preference. He hears from people who love it and those who are annoyed by it.
But if thinking about building new in the Chesapeake Bay watershed, be prepared for it to take a little while. I don’t know how that compares to other states TBH. H has worked in FL, SC, and HI besides PA and they all seem to have their various time-delaying needs, sometimes for good purpose and sometimes just because everyone has to be treated equally even when something really doesn’t apply.
We were in Chicagoland and MIL was on the east coast. She was fully entrenched in her house - it was part of her identity. FIL (who passed away about eight years earlier) would have loved to move to Florida to be near his brothers but she refused to even consider it. His life would have been much less miserable but she needed to maintain complete control. She could only be queen bee in her own hive. Most people thought she was so caring, but I had a different opinion of her psyche.
Well….if we are talking meet ups…I’ll start a thread.
Add me to the TC meetup list!
General IRL Meetup thread; people can start individual threads/PM’s for specific areas:
I was pleasantly surprised when I did mom & dad’s taxes this year; 2022 was their first full year in SC since moving down from PA. My dad was really worried about income taxes; turned out between all of the deductions and no taxes on SS or military pension, their total SC tax obligation was $238; they actually ended up with a large refund because his other PA based pension withheld SC taxes. It was the one thing I was worried about for us when we decided to retire here instead of home in PA, but they haven’t been bad so far; we’ll see once we fully retire. Dad was shocked when they got their $750 property tax bill for their house here; we all miss certain things from PA, but property taxes isn’t one of them Our last year in PA our property tax was almost $10k; just got our’s for here, and it was $1.9k We still have family in PA, NJ, NY and NH. 3 different relative families are going to visit in the next few weeks to check out the area for retirement. It’ll be interesting to see how all the states compare for retirement.
PA good for retirement in some ways, bad in others.
PA has an inheritance tax.
My stepfather called to make sure his property tax wasn’t a mistake, when they moved from NJ to SC. The person on the other end of the phone thought he was arguing that it was too high - my dad was like, no - just making sure this is correct! Ok GOODBYE! He was used to paying over 10x more in NJ for a smaller property.
my dad did the same thing, and they apologized to him for it being high.
Is there a dollar mount?
In MD, you don’t have to pay inheritance tax on anything under $5 million (not a problem for my family )
No it starts from dollar one.
State summary map - Inheritance and Estate tax (2020)
https://images.app.■■■■■■/5zdyttVjH85d6dc47
MD - shows Estate tax starting at $5M but also Inheritance tax (0 to 10%). Not sure how they differ but it could explain the varied MD info in prior posts.
I know that if you inherit from a non-relative in MD you pay 10% in inheritance tax.
Correct. I should have clarifed that I was thinking of inheritance from family:
“A decedent’s spouse, child, stepchild, grandchild, step-grandchild, parent, grandparent or sibling are exempt from paying Maryland Inheritance Tax.”